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🖥 In the Focus of Foreign Media: Uzbekistan’s Dialogue with Business: Five Years of Change An article by Khurshed Asadov, Deputy Director of the Center for Economic Research and Reforms (CERR), analyzes how the annual open dialogue between the President of Uzbekistan and entrepreneurs has evolved over the past five years from a new feedback mechanism into an established instrument of economic policy. The article emphasizes that: 👀 Since the first dialogue in 2021, the agenda has gradually shifted from removing post-pandemic barriers to systemic changes in taxation, financing, access to land and infrastructure, export support, digitalization, and protection of entrepreneurs’ rights. 👀 The 2022 dialogue introduced a differentiated approach to supporting businesses based on their size and the conditions of individual regions. The VAT rate was subsequently reduced to 12%, while special tax, credit, and financial conditions were introduced in 60 districts. 👀 Following the 2023 dialogue, support measures focused on helping businesses grow from small to medium-sized and large enterprises. By August 2024, business turnover had increased by 25% to around $82.2 billion, while the number of medium-sized and large companies roughly doubled. 👀 The 2024–2025 dialogues further expanded access to finance, simplified regulation, promoted startups and accelerated business digitalization. By the first seven months of 2025, more than 600 startups had attracted $264 million in foreign investment, four times more than in the whole of 2024. 👀 From January 1, 2026, individual entrepreneurs and self-employed persons with annual turnover of up to about $83,000 pay a 1% turnover tax instead of 4%. The “Starting a business in 15 minutes” principle has also been introduced, combining key registration procedures into a single digital process. 👀 In 2025, Uzbekistan had 493,000 operating enterprises, with 82,400 new businesses created during the year. Small businesses accounted for 52.2% of GDP, 36.6% of exports, 75.6% of construction, and 83% of trade. 📖 The article underlines that the five open dialogues have established a new tradition of continuous interaction between the state and the business community, where previously adopted decisions are reviewed and new priorities are defined each year. 🔝 The article is available on the Sada Elbalad 🖋 Cerr.uz ✈️ Telegram 💻Facebook 🖥(Twitter) ▶️ YouTube

What to Read This Weekend⁉️ 3️⃣ perspectives on how states, markets, and technologies shape global influence: 📖 Daniel Yergin, in “The Prize”, examines the history of the global oil industry as a story of worldwide competition among states for power, influence, and control over strategic resources. He shows how oil evolved from an industrial raw material into a foundation of global politics, shaping the outcomes of wars, the formation of alliances, and the economic leadership of major powers. According to Yergin, energy became one of the key forces transforming international relations in the 20th and 21st centuries, while control over oil supplies emerged as a crucial element of national security and geopolitical influence. 📖 Philippe Aghion and Peter Howitt, in “Creative Destruction”, explain that the sustainable development of states depends not on preserving old economic models, but on their ability to continuously renew technologies, institutions, and production systems. The authors build on Schumpeter’s idea that economic growth emerges through the replacement of outdated industries by new innovations, while national leadership depends on the ability to support competition, entrepreneurship, and scientific progress. In this logic, innovation becomes not merely a source of growth, but the foundation of countries’ global competitiveness. 📖 Joel Mokyr, in “A Culture of Growth”, argues that countries achieve economic superiority primarily through the development of a culture of knowledge, science, and the dissemination of ideas. He emphasizes that the Industrial Revolution became possible not only because of technology or capital, but also because society’s attitude toward knowledge, experimentation, and innovation changed. In Mokyr’s view, an intellectual environment that supports the free exchange of ideas and respect for scientific progress creates the foundation for countries’ long-term leadership in the global economy and technology. More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

✔️ Assistants to the hokims are among people ("Dekhibaland" makhalla) 📍The "Economic Review" Journal continues to cover issues related to the results of the "mahallabay" system. 📌 Nuriddin Khushvaktov, assistant to the hokim in "Dekhibaland" mahalla of Nurota District, Navoi Region, regarding the "mahallabay" system in an interview to "ER". ✂️The editorial provides excerpts from the interview: ➖ The mahalla’s main economic driver is livestock farming, a traditional activity that has been practiced here for generations. To further develop this sector, we have proposed that local entrepreneurs establish facilities for processing milk, dairy products, and meat. ➖ Residents of the mahalla mainly approach me for assistance in obtaining concessional loans to start or develop business activities, as well as for help in finding stable employment for unemployed citizens. ➖ It would be fair to say that today assistant khokims serve as a kind of bridge between the state and the population. At the same time, it would be advisable to further expand their authority to support entrepreneurial initiatives. ➖ One of the key changes in our working approach is that activities are now organized not from the office, but through direct engagement with residents and households, with particular emphasis not on temporarily alleviating problems, but on addressing their root causes and finding long-term solutions. Jamoliddin Turdimov In the country/Assistants to the hokims are among people «Economic Review» Journal №6/2026 Read more: ⬇️⬇️⬇️ en review.uz/en/wpv uz review.uz/oz/wpv ru review.uz/wpv More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter|linkedin

🖥Media_about_us 🇺🇿Development Concepts Prepared for the Districts and Cities of Khorezm Region 🖊 In accordance with the President’s instruction, the Center for Economic Research and Reforms, based on the “Think Tank – Hokimiyat – Council of People’s Deputies” principle, developed development concepts and roadmaps for 13 cities and districts of Khorezm Region. 📌 The documents were discussed on August 11 at the 25th session of the Khorezm Regional Council of People’s Deputies. 🎙Head of Sector of the Center for Economic Research and Reforms Fazliddin Nasriddinov spoke on the “Axborot24” news program aired on the “Oʻzbekiston24” TV channel about the results of CERR’s assessment of the potential of cities and districts in the Khorezm region and the development of annual roadmaps aimed at stimulating regional economic growth. "A representative of the Center for Economic Research and Reforms was assigned to each city and district to assess its existing potential. Measures covering approximately one year have been developed for 13 districts and cities. If these plans are fully implemented, the region’s economy could grow by an additional 0.5% as early as this year. In the near term, tax revenues and household incomes are also expected to increase, along with the creation of new jobs, providing further momentum to the region’s economy." ▶️ Youtube More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin #CERR #Media_about_us #Khorezm

🇺🇿 Preparations for the Open Dialogue with Entrepreneurs Reviewed President Shavkat Mirziyoyev was briefed on preparations for the upcoming Open Dialogue with entrepreneurs. 👀Appeals and meetings ➖ Around 6,000 appeals were received through the call center and official bots, more than 4,200 of which have already been resolved. ➖ As part of the preparations, more than 750 meetings were held with the participation of over 8,800 entrepreneurs. 👀Survey of 5,072 entrepreneurs ➖ The survey covered business efficiency, investment, infrastructure, tax administration, foreign trade, and legal and judicial issues. 👀Efficiency ➖ Enterprises that have implemented at least three efficiency-enhancing measures are 4.1 times more likely to reduce production costs and 2.1 times more likely to achieve higher wage growth. However, such enterprises account for only 11.6% of the total. 👀Investment and finance ➖ 40% of enterprises made no investments over the past year, while 29% have no investment plans for the coming year either. ➖ The main constraints are high lending rates, low collateral valuations, and lengthy loan application procedures. 👀Production costs and energy ➖ Production costs increased for 53% of enterprises. 43% have taken no energy-saving measures, while 49% do not use renewable energy sources. 👀Exports ➖ 22.3% of the enterprises surveyed are engaged in foreign trade. The main challenges are finding customers, certification, logistics, customs procedures, and marketing. 👀Legal environment ➖ 94% of entrepreneurs positively assessed the Sustainability Rating system, while 73% reported that bureaucratic procedures in the enforcement system negatively affect their businesses. 🇺🇿 The President instructed officials to identify a specific solution, implementation mechanism, responsible parties, and deadlines for each issue raised. More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

🇺🇿 Uzbekistan in Global Economic Trends Expanding international cooperation, attracting investment, and launching new projects are strengthening Uzbekistan’s position in the global economy. 🇺🇸Uzbekistan is strengthening cooperation with the United States. Projects with the U.S. Exim Bank and DFC are advancing in energy, infrastructure, critical minerals, AI, and digitalization. Air Products’ investments in Uzbekistan have already exceeded $1 billion. 🇷🇺Cooperation with Russia remains dynamic: trade has increased by 20% since the beginning of the year. Projects in energy and metallurgy, industrial cooperation, and interregional ties are moving forward. 🇲🇾Trade with Malaysia increased by 15%, while the number of joint ventures reached 50. Promising areas include petrochemicals, mechanical engineering, pharmaceuticals, agriculture, and Islamic finance. 🇨🇳Uzbekistan is expanding its partnership with China: trade exceeded $6 billion, more than $8 billion in direct investment was utilized, and nearly 6,000 joint ventures are operating in the country. The main focus is on green energy, infrastructure, data centers, and critical raw materials. 🇩🇪Mutual trade with Germany exceeded $1.4 billion, while German investment in 2025 reached $2 billion. New projects include Volkswagen assembly, a logistics center, and training industrial personnel. 🏛Cooperation with international financial institutions is expanding. The project portfolio with the EBRD exceeded $7 billion, while the portfolio with the World Bank reached $15 billion. Cooperation with the IMF continues on improving macroeconomic, foreign exchange, and fiscal policy. 🇯🇴New cooperation mechanisms have been launched with Jordan: a Business Council was established, the first meeting of the Intergovernmental Commission was held, and direct air connectivity was launched. 🇮🇹Trade with Italy has increased by 25% since the beginning of the year. Cooperation with Tuscany is planned in textiles, food processing, jewelry, construction, education, and tourism. "Economic Review" Journal №7/2026 More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

📚“The Gutenberg Galaxy” by Marshall McLuhan Canadian philosopher and media theorist Marshall McLuhan explains in his book how the development of communication technologies transformed people, society, and the very logic of civilization. 👀 McLuhan’s central idea is that human history changes together with the means of communication. Every new information environment transforms the way people perceive reality, the forms of knowledge, and the principles by which society is organized. 👀 According to McLuhan, the true turning point came with the invention of the printing press. Around 1450, Johannes Gutenberg introduced printing with movable type, triggering a technological revolution: knowledge could now be reproduced on a mass scale, while the book became a new instrument of education, order, and independent thought. 👀 McLuhan’s formula that “the medium is the message” shows that not only ideas themselves matter, but also the technology through which they are transmitted. The printed book shaped linear thinking, national languages, mass education, and modern states. McLuhan believed that print culture created the “Gutenberg man” — a person shaped by books, individual reading, and rational order. But radio, the telephone, and television had already begun to undermine the monopoly of the printed word, paving the way for the “global village,” where distance loses its former significance and humanity once again becomes a single information space. . Ziyoda Rizaeva, CERR "Economic Review" Journal №6/2026 More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

☑️#Infographics: Uzbekistan's foreign trade with the EAEU countries in January-June 2026 4️⃣Uzbekistan's foreign trade turnover with the EAEU member states in January-June 2026 amounted to $11 billion (+20.3%), of which: ◾️exports – $3.7 bn. ◾️imports – $7.3 bn. 🇷🇺Foreign trade turnover with Russia amounted to $7 bn. (+15.7%) 🇰🇿Foreign trade turnover with Kazakhstan amounted to $2.8 bn. (+25.9%) 🇰🇬Foreign trade turnover with Kyrgyzstan amounted to $625 mn. (+45%) 🇧🇾Foreign trade turnover with Belarus amounted to $527 mn. (+28.5%) Read full: en review.uz/en/dsf uz review.uz/oz/dsf ru review.uz/dsf More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

📁#Infographics: Uzbekistan's Trade with CIS Countries in January-Juine 2026 📍In January-June 2026, the CIS countries accounted for 37.8% of the foreign trade turnover of the Republic of Uzbekistan. ✔️The foreign trade turnover of the Republic of Uzbekistan with the CIS countries in January-June this year increased by 32.4% and amounted to $15.5 billion ◼️exports – $6.6 bn (+50.4%) ◼️imports – $8.9 bn (+21.6%) ✔️The largest shares of foreign trade turnover with the CIS countries were with Russia (45%), Kazakhstan (18%), Turkmenistan (4%) and Belarus (4%). Read full: en review.uz/en/cjh ru review.uz/cjh uz review.uz/oz/cjh More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

📊 #Infographics: Uzbekistan's Trade with Central Asian Countries in January-June 2026 📈 By the end of January-June 2026, the volume of Uzbekistan's foreign trade with Central Asian countries reached $4.4 billion, which is 10.8% of the total volume of foreign trade. ➡️ Exports amounted to $1.6 billion (+26.8%) ⬅️ Imports amounted to $2.8 million (+26.3%) 📊 The largest share in Uzbekistan's trade turnover with Central Asian countries was accounted for by Kazakhstan – 63%, the rest: Kyrgyzstan – 14%, Turkmenistan – 13% and Tajikistan – 10%. Read full: en review.uz/en/j5a uz review.uz/oz/j5a ru review.uz/j5a More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter|linkedin

📊#Infographics: Uzbekistan's foreign trade in January-May 2026 📶Uzbekistan's foreign trade turnover in January-May 2026 amounted to $32.8 billion (+3.7%) ➡️Exports in foreign trade turnover amounted to $12.7 billion ✔️In the structure of exports, goods amounted to $8.1 billion and services to $4.6 billion ⬅️Imports in foreign trade amounted to $20.1 billion (+20.8%) ✔️In particular, goods were imported for $18 billion and services for $2.1 billion Read full: en review.uz/en/b3a uz review.uz/oz/b3a ru review.uz/b3a More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin

(continuation) In trade, the most realistic growth potential lies at the intersection of Afghanistan’s already established demand and Uzbekistan’s competitive capabilities. The goal of increasing trade turnover first to $3 billion and then to $5 billion is achievable through a transition to joint production. A simple scaling up of the current export model from Uzbekistan will be limited by Afghanistan’s effective demand. . In 2021–2025, trade and economic cooperation between Uzbekistan and Afghanistan entered a phase of accelerated growth. Strong momentum is also continuing in 2026: in the first half of the year, Uzbekistan’s trade with Afghanistan increased 1.5 times and already exceeded $1 billion. The institutional and infrastructure base formed to support trade cooperation, combined with the implementation of industrial cooperation projects, energy infrastructure projects, and the Trans-Afghan railway, can turn the border area with Afghanistan into an industrial and logistics hub of Central and South Asia. More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin 🌌 Visualization powered by AI

(continuation) In recent years, trade ties have intensified significantly. The parties adopted a preferential trade agreement, which provides for the abolition of import duties on 14 commodity categories. Uzbekistan’s trade houses have been opened in Kabul and Mazar-i-Sharif. In Surkhandarya region, on the border with Afghanistan, the Ayritom Free Zone has been launched and is successfully operating, combining trade, production, warehouse, logistics, service, and industrial functions. Investment and cooperation ties between Uzbekistan and Afghanistan are gradually moving from trade operations toward the implementation of joint production, infrastructure, and raw-material projects. As of July 1, 2026, there were 685 enterprises operating in Uzbekistan with Afghan capital. For comparison, in July 2024, 550 such enterprises were reported. . In the area of transport connectivity, the infrastructure megaproject of the Trans-Afghan railway corridor is being developed. In the energy sector, a project is being implemented to expand opportunities for electricity exports from Uzbekistan to Afghanistan. Also in the energy sector, in August 2025, the Ministry of Energy of Uzbekistan and Afghanistan’s DABS signed four contracts worth a total of $243 million. . More analytics ⬇️⬇️⬇️ © Экономическое обозрение © Иқтисодий шарҳ © Economic Review telegram | facebook | twitter| linkedin 🌌 Visualization powered by AI