Over the week, the Uzbek authorities presented large-scale plans for the development of artificial intelligence, IT infrastructure, and hydropower. The economy continues to maintain strong growth, while the state is simultaneously accelerating reforms in investment, currency regulation, agriculture, and transport infrastructure.
Uzbekistan’s economy grew by 8.7% in the first quarter of 2026 and accelerated its growth pace
The Center for Economic Research and Reforms reported an acceleration in Uzbekistan’s economic growth following the first quarter of 2026. Real GDP growth reached 8.7%, while inflation fell to its lowest level in recent years. Positive momentum was recorded in construction, industry, services, and agriculture. Investment in fixed capital increased by more than 40%, while foreign direct investment reached $8.84 billion. Poverty, unemployment, and the share of the informal economy also declined.
Uzbekistan and Poland’s BGK bank agreed to expand investment cooperation
Talks were held at the Embassy of Uzbekistan with representatives of Poland’s Bank Gospodarstwa Krajowego. The parties discussed expanding cooperation in investment, finance, and trade-economic spheres. Following the meeting, they agreed to prepare a memorandum and continue joint work. Particular attention was given to projects in energy, pharmaceuticals, logistics, and IT. The participation of the Polish bank’s delegation in international events in Tashkent was also agreed upon.
Uzbekistan will not raise SMS notification fees for HUMO cards
HUMO announced that the cost of SMS notifications for card transactions will remain unchanged. Earlier, telecom operator Octotelecom had planned to raise tariffs starting May 1, 2026. After discussions, the parties decided not to change the service price. The cost of one incoming message from number 13131 will remain at 84.2 soums. The decision was made after reviewing the situation and user appeals.
Uzbekistan has simplified foreign exchange operations and expanded opportunities for investors
The Central Bank approved new rules for conducting foreign exchange operations in Uzbekistan. The changes are aimed at simplifying procedures for businesses, individuals, and foreign investors. Citizens were allowed to transfer funds between accounts for non-commercial purposes regardless of citizenship. Investors received more flexible conditions for withdrawing funds and conducting securities transactions. At the same time, all foreign exchange transactions, including online operations, will be recorded in a centralized accounting system.
The Tax Committee denied reports of a zero VAT rate for the catering sector
The Tax Committee denied reports about the introduction of a zero VAT rate for the public catering sector. Earlier, information had appeared on social media about alleged upcoming tax changes. The agency clarified that only international experience in supporting the sector had been discussed. At present, no decision has been made to reduce the VAT rate. Business representatives were invited to submit proposals on support measures for the catering sector.
Experts expect inflation to slow to 5.6% and the rate to fall to 13%
In March 2026, financial experts updated their expectations for inflation, interest rates, and economic growth. Survey participants expect inflation to slow gradually and stable monetary policy to be maintained. Most experts expect the current key rate to remain unchanged at the next meeting. GDP growth and wage increases are also forecast in the coming years. Market assessments point to declining uncertainty in the economy and more stable expectations regarding interest rates.
An IT hub with exports of up to $30 million is being created in Fergana
The president reviewed the operations of a new IT park in Fergana built with state budget funds. The complex is designed for education, work, and launching digital projects. The authorities plan to expand the park, increase the number of residents, and create new jobs. The center will be able to train more than 3,000 young specialists annually. The region also plans to develop IT service exports and launch projects in artificial intelligence.
Fergana airport will be modernized and a new terminal will be built
The president was presented with a development concept for Fergana International Airport. The project предусматривает modernization of infrastructure, construction of new terminals, and reconstruction of the runway. The airport’s capacity is planned to double. The project also includes the creation of a cargo terminal and expanded aircraft servicing capabilities. The authorities expect to improve the region’s transport connectivity and attract more tourists and investment.
Experts named the highest-paying sectors in Uzbekistan
The National Statistics Committee published wage data for January–March 2026. The average monthly salary in the country increased by 17.4% and reached 6.8 million soums. The highest incomes were recorded in Tashkent, the financial sector, and the IT sector. The lowest indicators remain in education, healthcare, and several regions. The statistics show continued income growth alongside a noticeable gap between sectors and territories.
Central bank keeps rate unchanged amid 7.1% inflation
The Central Bank reported that inflation in Uzbekistan continues to decline, although the pace of disinflation has slowed. The regulator intends to maintain tight monetary conditions to contain price pressure. By the end of 2026, inflation is expected to be around 6.5%, while the target level remains 5%. At the same time, the economy continues to show strong growth, with GDP rising 8.7% in the first quarter. The Central Bank noted that external risks and high economic activity continue to influence inflation expectations.
Uzbekistan changes the procedure for blocking entrepreneurs’ accounts
Lawmakers are considering a draft law to change the procedure for blocking bank accounts in cases of tax violations. The document provides for a simplified procedure in cases where an entrepreneur admits the violation and does not dispute it. In such situations, tax authorities will be able to suspend transactions without going to court. If a dispute arises between the parties, the decision to block the account will be made by the economic court. Once the violation is remedied, account restrictions are expected to be lifted under an expedited procedure.
UzNIF announced IPO parameters with a valuation of $1.95 billion
announced
Uzbekistan will implement 73 hydropower projects worth $5.8 billion
The president was presented with plans for the development of hydropower and the construction of new generation facilities. The authorities intend to expand the use of hydropower potential amid growing demand for electricity. Dozens of projects with a total value of $5.8 billion are planned for implementation by 2032. The program includes the construction of new hydropower plants, pumped-storage stations, and small hydropower facilities. The projects are aimed at increasing energy capacity and reducing dependence on gas and coal.
Russia has extended the permitted stay for drivers from Uzbekistan
Russia has extended visa-free stay limits for drivers from CIS countries, including Uzbekistan. The new rules apply to citizens engaged in international road transport. They will now be allowed to remain in Russia for up to 180 days within a calendar year. To use the regime, an application stating the purpose of entry will be required.
Investment in Uzbekistan reached 156.3 trillion soums in the first quarter
By the end of the first quarter of 2026, investment in fixed capital in Uzbekistan reached 156.3 trillion soums. The figure increased by nearly 30% compared with the same period last year. The bulk of investment came from foreign investment and external borrowing. Funds were directed toward the development of the economy and social infrastructure from various financing sources. The growth in investment reflects strong economic activity and the launch of new projects in the country.
Business benefits and preferences will be consolidated into a single register
Uzbekistan approved the procedure for maintaining a unified register of benefits and preferences for entrepreneurs. The register will be размещён on the Unified Interactive Portal of Public Services. The document establishes rules for entering and updating information on state support measures for businesses. State agencies will be required to submit data on available benefits and the conditions for their application. The system is intended to simplify entrepreneurs’ search for available preferences and improve the transparency of business support.
“O‘zbekiston temir yo‘lllari” announced the launch date of its new train
Uzbekistan Temir Yollari is launching a new high-speed route on the Tashkent — Khiva — Tashkent line. The Jaloliddin Manguberdi train will operate several times a week on a fixed schedule. Travel time will be about 7.5 hours, and ticket sales are already open. The first departure from Tashkent is scheduled for May 3, and from Khiva for May 4. The new route is expected to improve regional transport connectivity and support domestic tourism.
Uzbekistan and France reached an agreement on employment for citizens
Representatives of Uzbekistan and France agreed to expand organized labor migration. The parties discussed attracting citizens of Uzbekistan to seasonal work and launching new employment formats. The first group of workers is expected to be sent as early as summer 2026 as part of a pilot project. Agreements were also reached on cooperation with employers and educational institutions. The programs will combine formal employment with vocational training.
The Uzbek authorities are changing the rules for leasing agricultural land
The president signed a decree on new measures in the distribution and use of agricultural land. The document changes land auction rules, simplifies land allocation for major investment projects, and updates lease terms for farmers. Starting May 1, 2026, the sale of agricultural land in all regions will be carried out under a unified procedure. The authorities plan to accelerate auctions and reduce starting prices for certain categories of land. Starting in 2027, the country also plans to fully abandon the traditional method of rice cultivation and switch to modern sowing technologies.
Uzbekistan’s fruit and vegetable exports exceeded $317 million
In the first quarter of 2026, Uzbekistan increased exports of fruit and vegetable products. From January to March, nearly 340,000 tons of produce worth $317.7 million were exported abroad. Compared with last year, both physical export volumes and export revenue increased. Fruit and vegetable products accounted for 5.5% of the country’s total exports. The growth reflects steady external demand for Uzbek agricultural products.
The share of Uzbekistan’s informal economy fell to 22.9% of GDP
In the first quarter of 2026, the share of the informal economy in Uzbekistan declined to 22.9% of GDP. A year earlier, the figure stood at 24.8%. At the same time, the country’s economy grew by 8.7%, while GDP volume approached 447.9 trillion soums. The most notable reduction in the informal sector was recorded in construction and services. The statistics reflect the gradual transition of business and employment into the formal sector of the economy.
Uzbekistan will allocate another $45 million for AI infrastructure development
The president was presented with plans for the development of artificial intelligence and the digital economy in Uzbekistan. The authorities intend to expand AI infrastructure, introduce digital solutions in key sectors, and develop IT education. The country plans to increase IT service exports to $5 billion and create hundreds of thousands of jobs in the digital sector. The plans also include launching new IT Parks, expanding computing capacity, and supporting startups and AI projects. Digitalization is being viewed as one of the key drivers of economic growth and modernization.
