ALKES

A new Fitch Ratings report on the banking sector in Emerging Markets highlights, among other topics, the ongoing process of bank sales in Uzbekistan in 2025 and explores factors that could improve the prospects for bank privatization in the near future. #uzbekistan #financesector #banking #privatization #fitch #emergingmarkets #investments

Higher Education in Uzbekistan this year celebrated a major milestone as for the first time prestigious QS World University Rankings and Times Higher Education rankings were awarded to universities in the country. #uzbekistan #education #social #development

Uzbekistan has developed a draft strategy for spent nuclear fuel management, radioactive waste, and decommissioning of nuclear facilities, Director of the Atomic Energy Agency under the Cabinet of Ministers of Uzbekistan Azim I. Akhmedkhadjaev told Trend News Agency in an exclusive interview. “Nuclear power will become the basis for all-season supply of electricity, thermal energy, and desalinated water to the country. This is the first step in the development of the nuclear industry, which will contribute to the strengthening of the economy and the welfare of the population. Uzbekistan, as one of the largest producers of natural uranium, intends to use its resources to regulate the cost of nuclear fuel. This will reduce the cost of electricity generation at nuclear power plants,” the Director said. #uzbekistan #nuclear #energy #electricity #economy #growth #invest

Statista: Advertising spending in Uzbekistan is expected to reach $481.5 million in 2024. #uzbekistan #advertising #business #development

The World Bank report analyzes Uzbekistan's services sector, highlighting the challenges and opportunities for its development and recommends reforms to modernize the sector, boost productivity, create jobs, and attract investment across its subsectors. The services sector is the country’s key driver of growth. In 2023, it contributed 43.9% to GDP, surpassing industry (23.5%), agriculture (20.6%), and construction (7.1%). The sector has played a vital role Uzbekistan’s structural transformation since independence, with employment in services having risen from 37% in 1991 to 50% in 2022—offsetting declines in agriculture. Since 2017, market reforms in Uzbekistan have driven steady economic growth, with an average annual GDP growth rate around 5.5%. However, structural transformation has slowed. Specifically, from 2010 to 2022, the services sector’s GDP share increased modestly from 41% to 44%, while employment stabilized at 50%. To sustain growth, the country should develop knowledge-intensive global innovator services, such as ICT, professional services (e.g., consulting, legal, architecture, engineering), and finance, which are over twice as productive as manufacturing but account for just 4% of all services jobs. #uzbekistan #worldbank #servicessector #development #economy #growth

The The OPEC Fund for International Development is providing a €70 million loan to Uzbekistan to co-finance the Second Inclusive and Resilient Market Economy Development Program. The program has been developed in collaboration with The World Bank and aims to support reforms that strengthen markets, enhance fiscal risk management and improve social inclusion and climate action in Uzbekistan. #uzbekistan #opec #worldbank #financing #economy #development

The Asian Development Bank (ADB) has provided Uzbekistan with a $250 million loan to support the transition to a low-carbon economy. The funding will aid programs in sectors such as transport and energy, as well as enhance the resilience of water resources and agriculture to climate change. #uzbekistan #adb #financing #lowcarbon #economy #climatechange

The geographical scope of the Middle Corridor's activity is expanding beyond its traditional limits. For the first time, Uzbekistan, a country within the Middle Corridor, sent its block train to Brazil. The journey of this pioneering shipment exemplifies the increasing importance of the Middle Corridor in global trade. #uzbekistan #middlecorridor #logistics #transportation #economy #invest

Uzbekistan has asked the European Union to extend the Generalized Scheme of Preferences (GSP+) for another ten years and broaden the list of duty-free exports, the press service of the Uzbek Ministry of Investment, Industry and Trade of the Republic of Uzbekistan said. GSP+, which extends the EU's Generalized Scheme of Preference, is a special trade arrangement aimed at facilitating sustainable development and reducing poverty in emerging economies by simplifying access for their goods to the EU market. #uzbekistan #europe #trade #gsp #development

By 2030, Uzbekistan aims to increase the share of renewable energy sources to 54% of total electricity generation, up from the previously planned 40%, according to the President. During this period, an additional 19,000 MW of "green capacity" is expected to be built. #uzbekistan #greeneconomy #renewables #electricity