AGP Executive Report

Energy: Turkmenistan plans to produce about 80 billion cubic meters of gas and 8 million tons of oil annually in 2026–27, while preparing the TAPI pipeline section to Afghanistan. At its OGT conference, Turkmennebit and Turkmengaz signed five deals, including a pipe contract with Uzbekistan’s Galperin Tashkent Pipe Plant. Investment: The Eurasian Development Bank and partners are establishing a Central Asia and Caucasus private equity fund to finance regional companies and support industrial growth. Agriculture: Uzbekistan’s cotton harvest reached 4.63 million tons by October 22, 3% above target, with 76% picked mechanically. But around 37% of irrigation water is lost in transit, underscoring a key challenge for farm productivity. Mining: Uzbekistan and South Korean partners are advancing a project to improve mineral-resource management and monitor landslide risks, including fieldwork and equipment installation near Angren. Trade & Logistics: Uzbekistan and Kazakhstan are preparing to open upgraded Zhibek Zholy and Gisht Kuprik border checkpoints to improve passenger and cargo flows.

Trade and Investment: Uzbekistan and the Eurasian Economic Union agreed to develop a new cooperation plan focused on reducing trade barriers and digitizing customs and transport procedures, as trade and investment links continue to grow. Energy Projects: Masdar plans to invest $250 million in a 300 MW solar plant and 75 MW of storage in Kashkadarya, while Tashkent Region and U.S. firm PowerScape Global are exploring coal-processing projects to produce electricity, fertilizer and fuel. Urban Development: Plans for New Karshi envision a city for up to one million people, with electric public transport and a possible above-ground metro linking it to the airport and railway station. Industry Policy: Uzbek and German experts reviewed industrial support, noting a shift from tariffs toward subsidies and support for sectors including mining, metallurgy and chemicals. Healthcare Services: A proposed $100 million World Bank program would tie funding for Samarkand clinics to measurable improvements in facilities, staff skills and digital systems.

Coal Processing: Tashkent Region signed an MoU with U.S. firm PowerScape Global to explore turning local coal into electricity, fertilizer and fuel. Uzbekistan also discussed coal-processing projects with South Africa’s Sasol. Energy and Chemicals: Masdar plans a $250 million Kashkadarya project combining a 300 MW solar plant with 75 MW of storage, while Uzbekistan GTL has prepared three expansion projects worth $300 million and is assessing a separate $1.5 billion polymers venture. Industrial Policy: A CERR–Berlin Economics study found government support has shifted from tariffs toward subsidies, with backing focused on sectors including metallurgy, mining and chemicals; experts highlighted productivity and export growth as priorities. Transport Technology: Uzbekistan and South Korea discussed AI traffic management, rail cooperation and upgrades to Middle Corridor capacity.

Water and Industry: Tashkent discussions focused on energy-efficient pumping, industrial water monitoring and upgrades to drinking-water and wastewater systems, following EBA Engineering’s appointment as a Grundfos distributor. U.S. Deals: Uzbekistan announced 54 agreements worth $12 billion with American companies, covering energy, critical minerals, transport, finance, digital technology and industrial development; the figure is announced deal value, not investment already delivered. Gold Mining: AzerGold registered its first overseas subsidiary in Uzbekistan to explore the Akba deposit in Kashkadarya, while a separate Azerbaijani-Uzbek gold project is planned in Kitab district. Clean Energy: TrinaTracker supplied equipment for a 300MW Navoi solar project expected to generate about 700 million kWh a year. A 250MW battery-storage project is also planned for Bukhara. Agriculture: Uzbekistan joined regional discussions in Bishkek on AFACI project results and future cooperation in food production and sustainable agriculture.

U.S. Investment: Uzbekistan announced 54 agreements with American companies worth $12 billion, spanning energy, critical minerals, transport, finance, technology and industry; the figure is pledged deal value, not investment already delivered. Mining: Azerbaijan’s AzerGold has registered its first foreign subsidiary in Uzbekistan to assess the Akba gold deposit in Kashkadarya, where a joint mining project was also announced. Critical Minerals: U.S. firms ReElement and American Resources signed a new agreement with Uzbek partners to advance a commercial demonstration of tungsten refining technology in Uzbekistan. Energy: A 250MW/1,000MWh battery project is planned for Bukhara, while the 300MW Navoi solar plant is expected to generate 700 million kWh annually. Agriculture: A new study says reforms raised cereal and cotton yields, but irrigation losses and soil salinity remain major challenges in plans to cut emissions through 2070. Connectivity: China and Uzbekistan pledged to advance construction of the China–Kyrgyzstan–Uzbekistan railway, a key link for regional trade.

US Investment: Uzbekistan announced 54 agreements and joint projects worth $12 billion after Marco Rubio’s Samarkand visit, spanning energy, critical minerals, aviation, finance and advanced technology, including renewables, power storage and data centres. Regional Logistics: A new 1,694-metre railway section at Naibabad on the Hairatan–Mazar-e-Sharif route has opened under a cooperation agreement with Uzbekistan Railways, with further station works underway to support cargo transport. China and Uzbekistan also pledged to advance the China–Kyrgyzstan–Uzbekistan railway. Tourism Services: More than 10.3 million foreign visitors arrived in Uzbekistan in January–September, up 20.4% year on year, boosting prospects for tourism-related businesses. Space Technology: Uzbekistan joined the Artemis Accords as the 77th signatory, adding an international framework for cooperation as the country develops its space programme and plans a CubeSat launch by 2028.

U.S. Investment: Uzbekistan announced 54 agreements and proposed projects worth about $12 billion during Marco Rubio’s visit, spanning energy and transport infrastructure, minerals, agriculture, finance and digital technology. The government says bilateral trade is up 35% this year, though it has not detailed how much of the package is financed. Trade and Industry: Uzbekistan’s exports rose 34.2% to $12.9 billion in January–September, while tax and customs revenues also increased, according to a business activity review. Space Industry: Uzbekistan became the 77th signatory to the Artemis Accords, backing its plans to develop a national space program and launch a student-built CubeSat by 2028. Regional Connectivity: SCO members adopted a 2026–30 trade cooperation plan, with the China–Kyrgyzstan–Uzbekistan railway among the regional infrastructure priorities.

U.S.–Uzbekistan Investment: Uzbekistan and U.S. companies signed 54 agreements and initiatives valued at nearly $12 billion, spanning transport, energy, critical minerals, finance, agriculture and technology. Wabtec plans to localize railway equipment production, while GE Aerospace deals cover aircraft engines and aviation training. The full project list, individual values and timelines have not been published. Trade Routes and Industry: At the Samarkand C5+1 meeting, the U.S. and Central Asian countries backed investment in the Trans-Caspian corridor, closer industrial ties and simpler customs procedures, without announcing new funding figures. Regional Connectivity: Uzbekistan and Kyrgyzstan discussed joint investment projects, including the China–Kyrgyzstan–Uzbekistan railway, and plans for their first regional forum.

US Deals: Uzbekistan signed 54 agreements worth $12 billion with US companies during Marco Rubio’s Samarkand visit. The deals cover industry, transport, energy, critical minerals, finance, digital technology, agriculture, healthcare and education; Wabtec plans to localize railway equipment production. Regional Trade: At the C5+1 meeting, the US and Central Asian countries discussed trade, investment and transport links, including upgrades to the Trans-Caspian route. Rubio brought nearly 300 US businesses to the region. Rail Connectivity: President Shavkat Mirziyoyev and Kyrgyz Foreign Minister Jeenbek Kulubaev discussed the China–Kyrgyzstan–Uzbekistan railway and joint investment projects. Space and Technology: Uzbekistan and the US launched a strategic dialogue and signed the Artemis Accords, opening scope for cooperation on peaceful space exploration and specialist training.

Transport Infrastructure: L&T has begun design, planning and procurement preparations for the New Tashkent International Airport, a major passenger, cargo and logistics project; full construction awaits contractual approvals. Regional Energy: A proposed $5 billion Central Asia Gas Ring would link five countries through more than 3,000 kilometres of new and upgraded pipelines, with estimated capacity of 20 billion cubic metres a year. Trade and Investment: US Secretary of State Marco Rubio is in Samarkand for C5+1 talks, accompanied by more than 200 business executives, with trade, energy and critical minerals on the agenda. China Partnership: Beijing and Tashkent pledged deeper cooperation in infrastructure, AI, agriculture and green growth, and backed progress on the China-Kyrgyzstan-Uzbekistan railway. Bilateral trade reached $16.1 billion in 2025. Industry Skills: Uzbekistan will establish a state Fashion Academy to train specialists for textiles, clothing, leather and footwear, with dual education planned from 2027/28.

US Business Push: Marco Rubio arrived in Samarkand with more than 200 business leaders for C5+1 talks on trade, investment, energy, critical minerals and transport. China Links: Beijing pledged deeper cooperation with Uzbekistan in energy, resources, AI and agriculture, and backed the China-Kyrgyzstan-Uzbekistan railway; bilateral trade reached $16.1 billion in 2025. Energy Expansion: President Shavkat Mirziyoyev said Uzbekistan plans two additional nuclear power plants to support reliable electricity and lower costs for investors. The first plant is under construction in Jizzakh. Hydrocarbons: Uzbekistan is preparing 128 exploration blocks for foreign investors, with preliminary estimates pointing to 5.8 trillion cubic metres of gas and 4.1 billion barrels of oil and condensate. Industrial Skills: A new state-run Tashkent International Fashion Academy will train specialists for textile, garment, leather and footwear industries, adding dual education from 2027/28.

Nuclear Expansion: Uzbekistan plans to build second and third nuclear power plants to secure electricity supplies and lower prices. Talks with potential partners are expected soon; locations, costs and timelines have not been announced. Oil and Gas: Tashkent is preparing 128 exploration blocks for international investors, with preliminary estimates of 5.8 trillion cubic metres of gas and 4.1 billion barrels of oil and condensate. BP and SOCAR are already exploring six blocks on the Ustyurt Plateau. China Partnership: Premier Li Qiang backed high-quality delivery of the China-Kyrgyzstan-Uzbekistan railway and called for deeper cooperation in energy, minerals, agriculture and technology. Power Projects: Uzbekistan has secured a $200 million ADB loan to modernise its power grid, while Voltamp Energy plans solar plants and transformer production. Trade and Investment: US Secretary of State Marco Rubio’s Central Asia visit brings a business delegation of more than 200 and puts energy and commercial ties on the C5+1 agenda.

China-Uzbekistan: Chinese Premier Li Qiang said Beijing is ready to deepen cooperation with Uzbekistan in energy, resources, AI and modern agriculture. Energy Investment: Uzbekistan signed six energy agreements worth $4.7 billion for 3,000 MW of generation and 400 MW of storage, and outlined plans for two more nuclear plants. Infrastructure: Uzbekistan and the AIIB explored road, rail, logistics, power-grid and water projects. Agriculture: The government and IsDB signed a deal to expand farmers’ access to modern, climate-smart machinery. Semiconductors: Uzbekistan signed five MoUs in Malaysia focused on workforce training, research and university-industry links. Oil and Gas: President Shavkat Mirziyoyev reviewed Ustyurt field development with SOCAR and BP, while also agreeing a project roadmap with Oman’s Voltamp Energy for solar plants and high-voltage transformer production.

Energy Investment: Uzbekistan signed six energy agreements worth $4.7 billion for 3,000 MW of generation and 400 MW of storage, and announced plans for two more nuclear plants. New rules will require competitive tenders and clearer grid-connection terms. US Business: Secretary of State Marco Rubio is visiting Samarkand with a delegation representing more than 200 US companies, as Washington seeks investment ties in energy, mining and transport. Manufacturing: South Korea’s Hansae Mobility opened a $30 million auto-parts plant in Uzbekistan, expanding the country’s automotive supply base. Transport and Logistics: Uzbekistan aims to lift logistics capacity to 40 million tonnes by 2030, while discussions with Germany’s Rhenus include logistics projects and cargo-terminal upgrades. Oil and Gas: Uzbekistan revoked some Saneg oil-field licenses after the company failed to develop deposits and meet licensing conditions; officials have not disclosed which fields are affected.

Energy and Investment: U.S. Secretary of State Marco Rubio is due in Samarkand with more than 200 business representatives for C5+1 talks on trade, energy and critical minerals, as Uzbekistan seeks new investment and technology. Regional Connectivity: Uzbekistan, Azerbaijan and Turkmenistan discussed expanding transport corridors and energy cooperation in Baku, while universities from Uzbekistan and Azerbaijan signed agreements on joint research, exchanges and innovation. Manufacturing: South Korean company Hansae Mobility has opened a $30 million auto-parts plant in Uzbekistan, adding to the country’s manufacturing base. Oil and Power: Uzbekistan has revoked some oil-field licenses held by Saneg over failure to meet development conditions; separately, the Asian Development Bank approved a $200 million loan to modernize the power grid.

Automotive Manufacturing: South Korea’s Hansae Mobility has opened a plant in Fergana to make brake and steering components, bringing production closer to UzAuto Motors and positioning the company to supply customers across Central Asia. Power Infrastructure: Uzbekistan and the Asian Development Bank signed a $200 million loan to modernise 60 electricity substations, install digital management systems and support connections for at least 3.3 GW of renewable energy. Agricultural Mechanisation: The Islamic Development Bank will fully finance a $202 million project to expand access to modern, climate-smart farm machinery and improve productivity. Investment and Critical Minerals: A large US business delegation is due in Samarkand for the C5+1 meeting, with mining, energy and transport among the investment priorities. Land Restoration: A new assessment identifies restoration options in Kashkadarya, Khorezm and Karakalpakstan, addressing pressures including soil erosion, degraded pastures and water scarcity.