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Economy

Uzbekistan bans disconnecting from central heating in favor of individual boilers

From November 1, tariffs for heat and hot water in Uzbek cities may rise; in Tashkent a 30% increase has been proposed. Deputy Minister of Construction Ozoza Juraeva stated that apartment buildings connected to central heating cannot be disconnected from the network and switched to individual gas boilers. Unauthorized alteration of in-building pipes is prohibited by government resolution No. 194 of July 5, 2014. Also, since December 1, 2022, new apartment buildings are not connected to gas — only to electricity supply.

2 min read
Economy

EDF: Syrdarya-2 Will Begin Strengthening Uzbekistan's Power System This Winter

At a meeting between Shavkat Mirziyoyev and fuel and energy sector investors, EDF Vice President Cedric Le Bouch announced that the 1,600 MW Syrdarya-2 combined-cycle power plant will come online this winter. Also, 75% of work at the Surkhandarya thermal power plant has been completed, a memorandum on a wind power plant in Bukhara region has been signed, and interest in modernizing power grids has been declared.

3 min read
Economy

Javlon Vahobov: The Fergana Valley is a market of 18 million people

Over the past 10 years, Uzbekistan's trade turnover with Central Asian countries grew from $2.5 billion to almost $8.5 billion, while the region's mutual trade turnover reached almost $11 billion. Economist Javlon Vahobov believes that the Fergana Valley, with a population of about 18 million, is not only a consumer market but also a base for industrial cooperation: Andijan — machine building, Namangan — light industry, Fergana — chemistry, Tajikistan's Sughd Region — metallurgy.

2 min read
Economy

Mirziyoyev held meetings with heads of foreign energy companies at the first Investors Council session

On 16 October, the first session of the Investors Council in the fuel and energy sector was held in Tashkent. Shavkat Mirziyoyev met with heads of companies from Azerbaijan, the UK, the UAE, Saudi Arabia, Turkey, China and Oman. Discussions covered the development of deposits on the Ustyurt Plateau, green energy, thermal power plants, power grids, a logistics hub in Andijan region and other projects.

3 min read
Economy

Infographic: China Overtakes the US and EU in Trade with 92 Countries

According to Visual Capitalist data based on IMF statistics and the UN Comtrade database, in 2000 the EU was the leading trade partner among the trio 'China — US — EU' in 112 of 175 economies, and the US in 53. By 2025, the leadership had shifted: China became the top partner in 92 countries, the EU in 55, and the US in 32. China's external goods trade grew from $470 billion in 2000 to $6.4 trillion in 2025.

2 min read
Economy

Tariff hikes prompted residents of Uzbekistan to save electricity and gas — Ministry of Economy and Finance

Deputy Minister of Economy and Finance Khurshed Mustafayev said that from 2023 to 2025 the average monthly electricity consumption per subscriber fell from 212 to 184 kWh (−13%), and gas from 431 to 342 cubic meters (−21%). Deputy Director of the National Agency for Social Protection Jamshid Abruev explained the shift to targeted support by the fact that the previous subsidies benefited higher-income families more. Over a year and a half, about 470 thousand families received compensation totaling 156 billion soums.

3 min read
Economy

Pandora opens the world's largest jewellery manufacturing plant in Vietnam

Danish jewellery company Pandora has opened a plant in Ho Chi Minh City that it calls the world's largest production complex for jewellery made of precious metals. The investment amounted to $150 million, capacity is up to 60 million items per year, and employment is 7,000 people. The plant will be Pandora's first production facility outside Thailand.

3 min read
Economy

AI Profits Concentrate Among Technology Owners Despite Global Spread of Production

According to UNCTAD, profits from the AI boom are concentrated in the high-tech stages of the supply chain. An analysis of the Nvidia GB200 NVL72 server system, worth about $3.3 million, showed that 68% of the tracked value added was profit, most of which went to Nvidia, while labor's share was only 14.2%. Raw material supplier countries receive a minimal share of the final value.

2 min read
Economy

Experts: Renewables growth saved Turkey $21.5 billion on fuel imports over the decade

Global Energy Monitor analysts note that over ten years Turkey has almost entirely abandoned new coal projects: of the 54.5 GW pipeline from 2014, only a few proposals remain. Wind and solar account for a third of installed capacity, and by 2035 the country plans to bring their combined capacity to 120 GW. According to the energy ministry's estimate, clean energy displaced fossil fuel imports worth $21.5 billion in 2015–2025.

3 min read
Economy

Omani Voltamp Energy to Expand Cooperation with Uzbekistan: Solar Plants and Transformers

Uzbek President Shavkat Mirziyoyev met with the chairman of the board of directors of Oman's Voltamp Energy, Sayyid Ayman al-Busaidi, at the first meeting of the Investors' Council in the fuel and energy sector. The parties agreed to implement the company's current and new projects based on a 'roadmap'; key topics are the construction of solar photovoltaic power plants and the production of high-voltage transformers.

2 min read
Economy

Hundreds protest IMF policies in Bangkok: rights groups criticize austerity demands

During the annual IMF and World Bank meetings in Bangkok, hundreds of protesters, including farmers and human rights organizations, demanded a revision of the funds' policies. Oxfam and activists called spending-cut demands misguided amid inflation, while the IMF insists on rebuilding fiscal buffers, and experts speak of 'two bad options' for developing countries.

3 min read