Ukraine continues to be one of the largest suppliers of cheese to the Uzbekistan market, ranking among the top 10 exporters of this product. Dairy products traditionally occupy an important place in the diet of the Uzbekistan population, where fermented drinks such as kefir, ayran, and bifidok are particularly popular. At the same time, the most dynamically growing segments are ready-made baby food, drinkable yogurts, and butter, which indicates a gradual expansion of consumer preferences and demand for products with higher added value.
As Olga Gvozdeva, advisor to the director of the Office for Entrepreneurship and Export Development, noted, demographic and infrastructure factors are important for market development. “The average age of the population is 29, and the level of urbanization is only 51%, which creates certain logistical difficulties, especially for products that require a cold chain,” she said.
The growing demand for dairy products in a country that is home to 38% of Central Asia’s population makes Uzbekistan the largest potential consumer market for dairy products in the region.
There is a free trade agreement between Ukraine and Uzbekistan, which provides for a zero customs duty rate for products with a Ukrainian CT-1 certificate. Currently, 16 Ukrainian companies have official permission to export dairy products to Uzbekistan. Among them are:
Agroprosperis LLC
Molochny Aliance LLC
Yuriya-Plus LLC
Lvivmolprodukt LLC
Kyivmolprodukt LLC
Rogan Dairy Factory LLC
Prostokvashino LLC
Podillya LLC
Zarechnoye LLC
Starokostiantynivsky Milk Plant LLC
Shostka LLC
Volynmoloko LLC
Ivano-Frankivsk Milk Plant LLC
Bukovina LLC
Milko Dnipro LLC
Ternopil Milk Plant LLC
Uzbekistan is actively updating its regulatory system. In particular, in 2023, outdated technical regulations were abolished, and new sanitary standards and product safety assessment mechanisms were introduced. Particular attention is paid to compliance with Halal standards, in particular, the national certification system has been in operation since May 2023. The “Foydalilik belgysi” (Usefulness Mark) label was also introduced, which classifies products according to their nutritional value.
Thus, Ukraine has significant prospects for increasing exports of dairy products to Uzbekistan, which, given the growing demand and regulatory changes, is a lucrative opportunity for Ukrainian producers.
Uzbekistan’s gold and foreign exchange reserves reached $61.23 billion as of December 1, 2025, according to data from the Central Bank. This is the highest figure since statistics began in 2013.
In November, reserves grew by another $1.9 billion (+3.2%), and since the beginning of the year — by $20 billion (+48.7%).
The main factor behind the growth was again gold, which rose in price on world markets.
According to the Central Bank’s estimates, the price increase from $4,013.2 to $4,159.4 per ounce (+3.6%) added about $1.8 billion to reserves (in September — $4.6 billion, in October — $2.5 billion).
The physical volume of gold has been increasing for the second month in a row. In November, it grew by 310,000 troy ounces (9.64 tons) to 12.23 million ounces (380.4 tons).
The value of gold reserves increased by $3 billion amid rising prices and reached a historic high of $50.86 billion. Gold now accounts for about 83% of all reserves.
At the same time, the currency portion of reserves decreased by $1.1 billion to $9.8 billion.
The volume of securities increased by $503.3 million to $1.53 billion.
As part of the strategy to accelerate the development of the financial technology market and stimulate the use of modern IT solutions in the field of financial and banking services, Uzbekistan has adopted a resolution ‘On measures for the further development of the financial technology sector in Uzbekistan’.
According to the document, the main targets for 2026–2030 include:
The Central Bank has been appointed responsible for the development of the financial technology sector and has been granted a number of additional powers. Within its framework, the following will be created:
From 2026, participants in the innovation hub will be able to receive compensation of up to 50% of the costs of training and attracting mentors, but not more than $20,000 and $50,000, respectively.
The programme provides for the introduction of an open banking system for the secure exchange of data between banks and fintech companies, the creation of the position of Chief Data Officer in the Central and Commercial Banks, and the development of a National Financial Technology Development Strategy for 2026-2030.
Particular attention is paid to expanding the use of crypto assets: from 1 January 2026, a special legal regime will be introduced to regulate the circulation of stable tokens as a means of payment, the issuance of tokenised shares and bonds will be permitted, and separate platforms will be created on stock exchanges for their placement and circulation.
The international news portal Euronews has published an article about Uzbekistan’s large-scale program aimed at developing artificial intelligence infrastructure and data centers. The article emphasizes that the country offers significant tax breaks, access to cheap electricity, and support for renewable energy projects, hoping to attract more than €85 million in foreign investment in the first phase.
Euronews pays particular attention to the choice of Karakalpakstan as a key location. The region is seen as a promising center for large AI projects due to its energy advantages, cool climate, and availability of free land resources. Journalists note that the new projects will use energy-efficient and low-water cooling systems that meet the environmental conditions of the region, which has been affected by the drying up of the Aral Sea.
According to the Ministry of Digital Technologies and Research and the UNDP, the ongoing modernization of fiber optic and telecommunications infrastructure is increasing the country’s digital potential and making it attractive to major players in the industry. According to the publication, the Uzbek government is counting on an influx of investment in the artificial intelligence sector, the creation of high-tech jobs, and the development of related industries, from logistics to engineering services.
Euronews also notes that the selection of projects will be based on their export potential, focus on green energy, and plans for training local personnel. The potential of Karakalpakstan as a future hub for the export of computing power and cloud services to countries in the region is highlighted separately.
According to the portal, the initiative is integrated into Uzbekistan’s broader strategy to create a full-fledged artificial intelligence ecosystem by 2030. The plan envisages attracting more than €860 million in investments, opening new AI laboratories, forming technology clusters, and launching more than 100 AI-based projects, including solutions based on renewable energy sources. By 2030, the country intends to increase its IT services exports to €4.3 billion and strengthen its position in the global technology market.
On November 10, the President of Uzbekistan met with medical and pharmaceutical workers, congratulating them on their professional holiday, Medical Workers’ Day.
Over the past five years, approximately $624,000 has been allocated to specialized medical centers, and thousands of pieces of modern equipment have been purchased. At the same time, the efficiency of its use is only 25%. The president emphasized the need to prioritize the development of digitalization, the modernization of clinical protocols, the introduction of advanced diagnostics and prevention, as well as the formation of professional teams in the regions.
Now, the directors of 26 specialized centers, heads of regional and district health care systems, and heads of family clinics will work according to monthly plans, visit problem areas and mahallas, analyze the causes of morbidity, propose solutions, and train local doctors. Daily meetings with healthcare managers will be held at the mahalla level, and each manager will be required to ensure attentive and prompt treatment of patients.
Starting in the new year, the procedure for appointing heads of medical institutions will change: the positions of director and chief physician will be separated, and entrepreneurs with management training and proven results will be eligible for leadership positions.
The incentive system will also be modernized: the best managers will be awarded titles, orders, medals, and cash bonuses of up to $2,497, and $41,000 will be allocated to improve the infrastructure of institutions. The best specialists will be sent abroad for training.
The development of medical education continues: faculties of general medicine are being opened, and residency and master’s programs in family medicine are being launched. Students will study free of charge and work as doctors at the same time, receiving a 150% salary bonus upon completion of their studies. Support for nurses has been strengthened: a Higher Academy of Professional Medicine is being created, quotas for higher nursing education are being doubled, and from 2027, the annual increase will be at least 20%, and nurses with higher education will receive a 100% salary bonus.
A new system of continuous professional development is being created, including distance learning, AI-based simulator training, and independent learning in the workplace. To this end, a Center for Continuing Professional Medical Education will be established.
The president noted that the private sector already provides about 30% of medical services, and the state is ready to expand public-private partnerships. Tax breaks on the import of equipment and ambulances will be extended for three years, part of the VAT will be refunded to private medical organizations, and entrepreneurs will be provided with a preferential credit line of $200 million to create modern multidisciplinary clinics.
In conclusion, the Head of State emphasized the importance of professionalism and dedication of medical workers, instructed to continue reforms, improve the quality of services, and introduce modern technologies, noting that this will make Uzbekistan’s healthcare system accessible and effective for all citizens.
The National Agency for Promising Projects has presented a list of specially authorized crypto exchanges participating in a special tax regime for foreign citizens.
The list includes all three crypto exchanges operating in Uzbekistan — Kobea Group, Coinpay, and Asterium. Foreigners will be able to open an account with any of them to obtain exemption from tax on income received outside the republic.
The President of Uzbekistan, by his decree dated October 4, 2025, No. UP-180, established that from January 1, 2026, the income of foreign citizens received from sources outside Uzbekistan will be exempt from personal income tax, subject to the following conditions:
Those wishing to participate in the regime must submit an application through the Tax Committee to a special commission.
Money transferred to an account or crypto wallet will only be credited after the bank (exchange) has assessed the risks and verified compliance with anti-money laundering rules.
