Uzbekistan Weekly: Uzbekistan secures $130M for Uzum, overhauls engineering, expands exports

March 5, 2026 to March 11, 2026

This week's top 10 stories from Uzbekistan, selected from our daily intelligence briefs.

1. Uzum Raises $130 Million from Oman’s Sovereign Funds, Valuing Platform at $2.3 Billion

Uzum secured just over $130 million in a strategic funding round from Oman’s sovereign funds alongside existing backers VR Capital, Tencent and FinSight Ventures, valuing the Uzbek digital platform at $2.3 billion. The company—reporting more than 20 million monthly users nationwide—will deploy the capital to expand its core e‑commerce, digital banking and payments businesses, scale technology infrastructure, broaden geographic coverage across Uzbekistan and shore up last‑mile logistics.

The deal signals rising international investor appetite for Uzbekistan’s digital economy and strengthens Uzum’s position as a leading private tech ecosystem, with expected impacts on product development, payment rails and financial inclusion that should accelerate SME onboarding and consumer adoption amid the country’s rapid market formalization. No direct comments from company or government officials were cited in the source.

Local Coverage: uzdaily.uz

From daily brief: 2026-03-11

2. President Orders Overhaul of Engineering Training and Expansion of Water Diplomacy Program

President Shavkat Mirziyoyev has ordered a comprehensive overhaul of engineering education and water diplomacy training to better integrate science and practice in Uzbekistan’s agricultural and water-management projects. Tashkent Institute of Irrigation and Agricultural Mechanization Engineers (TIIAME) will expand dual education—four days of classroom theory plus two paid days in industry—placing students in water‑saving irrigation projects, hydrotechnical works (canal concreting, cost estimates, small HPP construction) and farm mechanization. The reforms also establish drone-based crop monitoring, yield forecasting and pest-management services, backed by new drone training, satellite and research labs and digital management with KPI tracking, and a strengthened “school–technical college–university–industry” pipeline.

Recognizing the transboundary nature of most water resources, the government will enlarge TIIAME’s International Water Diplomacy master’s program and increase state-funded places to train specialists for Central Asia and Afghanistan, signaling a regional capacity‑building push in water negotiations and technical cooperation. For international professionals, the initiatives imply expanded opportunities for cross-border partnerships in water infrastructure, digital agriculture and remote‑sensing services, and a pipeline of practice-ready engineers trained to support water‑saving and transboundary management projects.

Local Coverage: gazeta.uz, uzdaily.uz, uzdaily.uz

From daily brief: 2026-03-11

3. Tashkent Plans New 20‑Million Passenger Airport and 282‑km Toll Expressway to Samarkand

Uzbek President Shavkat Mirziyoyev has advanced major transport investments including a six‑lane, Ia‑class toll expressway linking Tashkent and Samarkand: a 282‑km route engineered for 150 km/h with 12 interchanges, 91 bridges and 16 overpasses, targeted for completion within five years. An alternative 171‑km route via Angren–Kamchik featuring about 33 km of tunnels was also proposed, alongside upgrades to Tashkent–Chorvoq and Urganch–Khiva corridors; officials emphasised intelligent transport systems and project resilience to attract long‑term investors.

Separately, a new Tashkent International Airport first phase is planned to open by 2029 under a PPP with Vision Invest, Sojitz and Incheon International Airport Corporation: a 208,400 m² passenger terminal, two 4‑km runways, capacity for 20 million passengers annually, up to 30 movements per hour and stands for 169 aircraft. Together these flagship projects signal Uzbekistan’s push to boost connectivity and transit capacity, positioning the country as a regional transport hub while inviting foreign capital and expertise.

Local Coverage: kun.uz, qalampir.uz, uza.uz, anhor.uz, kun.uz, uzdaily.uz, gazeta.uz, gazeta.uz, uzdaily.uz

From daily brief: 2026-03-07

4. Export Growth Accelerates with Russia, China and Afghanistan as Key Markets

Uzbekistan’s exports surged to $1.7 billion in January 2026, a 26.7% year‑on‑year increase, driven by strong shipments to Russia ($325.8m), China ($178.1m) and an emerging market in Afghanistan ($136.7m), the National Statistics Agency reported. Regional diversification also showed early traction in the EU, led by France ($103.6m). Non‑gold exports rose 31.1% while overall external trade reached $5.8 billion (+29.2%), producing a $2.44 billion deficit as imports climbed 30.3% to $4.14 billion—partly because no gold exports were recorded.

Key structural shifts include services leading exports (43.8%) with travel, transport and ICT performing strongly, while energy exports fell 19.3% to $59.5m and gas exports were halted. Imports were dominated by machinery and transport equipment (35.9%) and energy imports jumped 94.2% to $406.1m, including gas imports of $167.6m (nearly sevenfold). China and Russia remain top trade partners (China 27.9% of trade, Russia 18.7%), underscoring deepening northern and eastern corridors; the data suggest improving competitiveness and greater resilience through market diversification, but rising import-driven deficits and volatile energy flows present near‑term risks.

Local Coverage: uz24.uz, gazeta.uz

From daily briefs: 2026-03-08, 2026-03-09

5. Hungary–Uzbekistan INNO Science Park Launches in Jizzakh to Drive R&D and Startups

Hungary and Uzbekistan officially opened the Hungary–Uzbekistan INNO Science Park in Jizzakh, announced at a launch attended by Uzbekistan’s Minister of Higher Education, Science and Innovation Qo‘ng‘irotboy Sharipov and Hungary’s Ambassador József Rózsa, with involvement from Óbuda University and the Hungarian Rectors’ Conference. The park targets applied R&D and commercialization across engineering, energy, AI, machine building, electronics and automation, unmanned aerial systems, materials science, chemical technologies, food security and medical technologies, and will provide modern laboratories plus business‑incubator and accelerator programs to support startups.

For international industry and academic partners, the initiative signals expanded opportunities for technology transfer, joint labs, faculty exchanges and potential dual‑degree pipelines as Jizzakh positions itself as a regional manufacturing and innovation hub. The project underscores deepening bilateral ties in technology and education and is designed to accelerate workforce development and industry–academia collaboration in strategic sectors.

Local Coverage: uzdaily.uz

From daily brief: 2026-03-07

6. Samarkand to Host 1 GW Solar Plant with 700 MW Storage and New Transmission Link

Uzbekistan will construct a major energy complex in Samarkand region consisting of a 1,000 MW solar photovoltaic plant, an approximately 700 MW energy storage system (≈1 billion kWh storage capacity), a large substation and a 441 km transmission line to link central generation to Tashkent and the Fergana Valley. The solar plant is expected to produce roughly 2.4 billion kWh annually; paired storage will improve load balancing and enable targeted releases to the grid, reducing outage risk during peak demand and smoothing variability as renewables grow.

The Ministry of Energy characterizes the project as strategically important for national energy security and infrastructure modernization, aligning with Uzbekistan’s longer‑term plans to expand green generation. For international stakeholders, the scheme signals significant state-led investment in utility‑scale renewables and grid reinforcement to deliver power from lower‑demand central regions to population‑dense, high‑demand areas; key issues going forward will include financing, timeline, grid integration planning and procurement of storage technology.

Local Coverage: uzdaily.uz

From daily brief: 2026-03-05

7. Madrid Business Forum Advances Spain–Uzbekistan Investment and Trade Deals

A Spain–Uzbekistan business forum held in Madrid brought together more than 110 entrepreneurs and officials to promote Uzbekistan’s investment and export opportunities, with a clear focus on agribusiness and technology. Spanish companies including Almar Water Solutions and New Greenhouses Projects proposed concrete joint ventures — a water treatment complex in Samarkand region and high‑tech greenhouse operations in Surkhandarya and Kashkadarya — while Feeding Systems and others outlined agri‑feed and efficiency projects. The event paired plenary sessions with targeted B2B meetings, featured online presentations by Uzbekistan’s national ministries and the regions of Samarkand, Tashkent and Andijan, and included participation by Uzbekistan’s Ministry of Agriculture.

The forum concluded with four cooperation documents and an export contract to supply Spain with dried fruits, legumes, nuts and other agricultural goods, and memorandums with GEDEPSA on olive cultivation/processing and WNL ENGE SL on energy‑efficient greenhouse technologies. Uzbekistan’s Ambassador Farrukh Tursunov and adviser Munira Aminova (delivering a message from Foreign Minister Bakhtiyor Saidov) framed the gathering as part of an ongoing push to deepen trade and investment ties; Spanish economic officials signalled readiness to expand cooperation, indicating near‑term potential for technology transfer, sustainable agriculture projects, and increased food exports.

Local Coverage: uzdaily.uz

From daily briefs: 2026-03-05, 2026-03-08

8. Central Asia–Azerbaijan ‘Green Energy Corridor’ Advances with Feasibility Work and Export Aims to Europe

Energy officials and grid regulators from Azerbaijan, Kazakhstan and Uzbekistan, together with the Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB), have reaffirmed timelines to complete the feasibility study for the Central Asia–Azerbaijan Green Energy Corridor, a project intended to link renewable generation in the Caspian region to European markets. The study, developed under an MoU signed in April 2025, will feed into the corridor’s next planning phase; Azerbaijan’s Deputy Energy Minister Orkhan Zeynalov framed the initiative as a route for clean Central Asian power deliveries to Europe.

The corridor’s implications hinge on planned national capacity expansions: Kazakhstan aims to raise generation to 26 GW by 2030 with 30–35% from renewables, positioning it as a prospective exporter of green electricity, while Uzbekistan is investing heavily in power infrastructure and targets regional integration by 2030 to boost export capacity to Europe. Completion of the feasibility work on schedule and subsequent financing decisions by ADB/AIIB will be decisive for project timing, trade flows and European grid integration.

Local Coverage: uza.uz

From daily brief: 2026-03-07

9. Foreign Reserves Hit Record US$77 Billion on Stronger Gold Prices

Uzbekistan’s official reserves reached a record US$77.0 billion in February, up US$2 billion month‑on‑month, the Central Bank said, driven largely by valuation gains from stronger global gold prices. The country now holds 13.1 million troy ounces (399 tonnes) of gold, valued at US$67.6 billion and comprising about 86% of total international reserves; the foreign‑currency component totals US$8.8 billion. The Central Bank purchased 9 tonnes in January and overall reserves rose 13.2% in January to US$75.08 billion on price effects.

Authorities have paused non‑monetary gold exports for four consecutive months after last selling US$1.5 billion in September 2025, even though international prices climbed from roughly US$3,700 to US$4,700 per ounce by January 2026. Historical patterns (2016–2026) show export timing is aligned with price cycles, and analysts say the halt likely reflects revenue‑maximizing timing, met export targets and defensive positioning amid geopolitical uncertainty. For international investors and lenders, the larger gold buffer strengthens Uzbekistan’s external position and creditworthiness but leaves liquidity and FX‑denominated flexibility more sensitive to future gold price movements.

Local Coverage: uzdaily.uz, uz24.uz, gazeta.uz

From daily briefs: 2026-03-05, 2026-03-07, 2026-03-08

10. Mirziyoyev Rallies Middle East Leaders for De-escalation, Prepares Historic Visit to Amman

On 4 March President Shavkat Mirziyoyev conducted a series of diplomatic calls with leaders of Oman, the United Arab Emirates, Kuwait, Qatar, Bahrain and Jordan to urge de‑escalation amid rising Middle East tensions and to coordinate protection and repatriation of Uzbek citizens. Mirziyoyev stressed that “any actions that endanger peace and public security must be halted immediately,” framed resolution through international law and dialogue—particularly during Ramadan—and commended Oman’s mediation role; Jordan’s King Abdullah II and Bahrain’s King Hamad bin Isa Al Khalifa expressed gratitude for Tashkent’s solidarity.

The outreach signals Uzbekistan’s proactive, balanced Gulf policy to safeguard labor migrants and travelers, reinforce security assurances, and deepen bilateral ties: Amman has signaled readiness for a planned “historic” visit from Mirziyoyev and Muscat is expecting a high‑level trip as well. For international stakeholders, Tashkent’s moves underscore a pragmatic regional posture that prioritizes civilian protection, diplomatic conflict management, and maintenance of strategic relationships across the Gulf.

Local Coverage: qalampir.uz, uza.uz, uz24.uz, uzdaily.uz, kun.uz, anhor.uz, gazeta.uz

From daily briefs: 2026-03-05, 2026-03-06

About This Weekly Digest

The stories above represent the most significant developments from Uzbekistan this week, selected through our AI-powered analysis of hundreds of local news articles.

Stories are drawn from our daily intelligence briefs, which synthesize reporting from Uzbekistan's leading news sources to provide comprehensive situational awareness for international decision-makers.