Uzbekistan and EBRD Define Cooperation Priorities for 2027

The Chairman of the Board of Directors of Uzbekneftegaz, Abdugani Sanginov, met with Evgeny Tatarintsev, head of the Kazakh company Azimut, to discuss issues of interaction in the oil and gas sphere.

The main focus of the negotiations was on the possibilities of jointly implementing projects in this industry, as well as introducing modern technologies into production processes.

Particular interest was drawn by the potential possibility of applying Azimut's technological solutions in areas such as seismic exploration, drilling, hydraulic fracturing, and well logging. Azimut specializes in providing services for geological exploration and the oil and gas business.

After the meeting, both sides emphasized the need for further technical evaluation of the presented proposals and the development of practical cooperation in promising areas. However, the report did not specify any concrete projects or timelines for their implementation.

The Ministry of Economy and Finance reported that Uzbekistan held a forum to discuss the national industrial strategy for the period up to 2035. The main focus was on long-term priorities, increasing industrial competitiveness, and boosting production volume.

Strategy Discussion in Tashkent

The forum took place on November 2, 2026, in Tashkent. Participants included Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov, Global Managing Partner of McKinsey & Company Bob Sternfels, experts from the World Bank and the International Finance Corporation, as well as representatives from other international organizations. Additionally, officials from state institutions, industrial companies, and business community representatives attended the event.

The central theme was the proposed conceptual vision for Uzbekistan's industrial strategy until 2035. Participants discussed methods to improve production efficiency, increase output with higher added value, and utilize the country's economic potential more fully.

Key Discussion Areas

During panel discussions, global trends in industrial development and international experience were reviewed. Special attention was paid to the opportunities and potential obstacles facing Uzbekistan, including attracting investment and major international investors, integration into global value chains, expanding export capabilities, and modernizing existing production facilities.

Thematic sessions focused on specific industries and related sectors, such as mining and deep raw material processing, mechanical engineering, automotive manufacturing, and consumer goods production. Issues regarding workforce training, energy, transport, and infrastructure development, as well as improving investment activities, were also discussed.

Representatives of relevant industries presented their proposals for further development, identified existing problems, and outlined issues requiring resolution. Discussions on the industrial strategy concept will continue taking into account the proposals presented at the forum. The event served as a platform for exchanging views on defining the long-term priorities of Uzbekistan's industrial development.

The Deputy Prime Minister of Uzbekistan, Jamshid Khodjayev, met with the Vice President of the European Bank for Reconstruction and Development (EBRD) for Banking, Matteo Patrone. The meeting aimed to discuss expanding cooperation, preparing new investment projects, and implementing joint initiatives.

According to Khodjayev, the total volume of cooperation between Uzbekistan and the EBRD has exceeded 7 billion US dollars. The bank remains one of the country's most important partners in supporting economic reforms and developing the private sector.

In 2025, the EBRD channeled 880 million euros into Uzbekistan through 39 projects, making the country the largest recipient of the bank's financing in Central Asia that year.

During the negotiations, methods for increasing enterprises' access to financial resources, the development of new investment programs, and further banking sector reform, including the privatization of Asakabank, were discussed. The parties also reviewed mechanisms for joint preparation and co-financing of projects with the Uzbekistan Recovery and Development Fund.

Another topic was the next stage of launching the ANORA platform, which is designed to attract investments into the agro-food sector. Furthermore, the involvement of local companies in EBRD-financed projects was discussed.

Khodjayev emphasized that the potential of domestic enterprises should be considered at the initial stages of project preparation so that they can participate in tenders and implementation of work. The Deputy Prime Minister stated that the goal is to develop a partnership such that attracting and distributing over 1 billion US dollars annually becomes a sustainable practice.

He stressed that the attracted funds must contribute to creating additional business opportunities, modernizing infrastructure, and improving the quality of life of the population.