CAG

Name: CAG
Address: 160 Robinson Road, Business Federation Centre, Singapore, 068914, SG
Telephone: +6581000779

CAG is the global consultant in risk analysis & assessment, advisory and consulting focusing in Central Asia region.

CAG is the global consultant in risk analysis & assessment, advisory and consulting focusing in Central Asia region which stretches from the Caspian Sea in the west to China in the east and from Uzbekistan in the south to Russia in the north. The region making up a huge land area between Europe and China, consisting of Republics of Kazakhstan, Uzbekistan, Tajikistan, Turkmenistan and Kyrgyzstan. T

he centralized management team with multifaceted skills and experts advise the world’s leading business, investment, and government professionals to help them anticipate risk and shape strategic outcomes. We are known for our deep country and thematic expertise, analytic rigor, and geopolitical foresight that our clients use for major business and market decisions shaping the global economy. We connect geopolitics with business to support our clients’ long-term planning and organizational needs. CAG’s in-depth consulting solutions help executive leaders assess business and investment environments, identify and anticipate sector outlooks, forecast change and future states, and detect key disruptive trends. Partners and Associates based in various parts of the globe, including South Africa and Kazakhstan, Lesotho and Tajikistan, Malaysia or Russia are always there to offer utmost support in the business, corporate or governmental affairs, if and when is needed. Group mutual trust and respected built and tested over years match to none in today’s highly volatile business environment. One thing is for sure; CAG is and always will place above all, the principles of professional ethics, honesty and performance. Working with CAG does mean working without any anxiety, without any remorse, but with great achievements.

“Depending on the jurisdiction or transaction, services may be provided via CAG, or other project specific subsidiaries.”

03/05/2026

CAG Organises Executive Business Tour to South Africa with Davlatov Millionaires Club

Central Asia Group (CAG) is proud to announce the upcoming Davlatov x CAG Executive Business Tour to South Africa an exclusive initiative bringing together a carefully selected group of Central Asian business leaders for an immersive week of high-level business engagement, industry exploration, and cultural experience in one of Africa’s most dynamic destinations.

Organised jointly by CAG and the Davlatov Group of Companies, this tour is designed for entrepreneurs, investors, and business leaders who are ready to explore Africa’s most industrialised economy firsthand and to build meaningful connections that open doors across a continent of 1.4 billion consumers.

Tour Highlights

Participants will engage with South African business chambers and industry leaders, explore sectors including mining and resources, agriculture, and financial services, and experience the extraordinary natural beauty of South Africa through a game reserve and safari experience. A professional multilingual guide and interpreter will accompany the group throughout.

What’s Included

Five-star accommodation at the iconic Sandton Sun Hotel in Johannesburg, a full business programme with market leaders, game drive and safari experience, airport transfers and ground transport, multilingual guide and interpretation, and official invitation letters for visa applications.

Tour Details

Destination: Johannesburg & Cape Town, South Africa Dates: 17–23 June 2026 Format: Business + Leisure

Seats are strictly limited for this exclusive executive tour.

To reserve your seat or for more information, contact us at [email protected]

03/05/2026

CAG Speaks at Banking & Finance Academy of Uzbekistan 30th Anniversary International Conference

Tashkent, 30 April 2026

Central Asia Group (CAG) was honoured to participate as a speaker at the International Conference of the Banking and Finance Academy of the Republic of Uzbekistan (BFA), marking the institution’s 30th Anniversary.

The conference, themed “Sustainable Finance in the Age of FinTech and Artificial Intelligence: Transforming the Future of Banking and Financial Systems”, brought together leading academics, financial regulators, and international practitioners from across Uzbekistan, Malaysia, Indonesia, South Korea, Russia, and beyond.

Tabarruk Nabijon, Founder & President of Central Asia Group, delivered a presentation titled “Digital Platforms and Emerging Technologies as Renaissance of Central Asian Tradition: Case Study How the Wisdom of the Silk Road Found Its Digital Infrastructure.”

The presentation explored the deep civilisational roots of Islamic finance in Central Asia, tracing the region’s intellectual and commercial heritage from the Golden Age of the Silk Road to the present day. Drawing on a live case study a Shariah-compliant, Mudarabah-based livestock investment platform built in New Zealand for a global Muslim investor community the address argued that Central Asia possesses a unique and largely untapped competitive advantage: a living cultural connection to the original principles of ethical and equitable finance, now amplified by modern digital infrastructure.

CAG was proud to share the stage with distinguished speakers including representatives from the Central Bank of Uzbekistan, Universitas Indonesia, Universiti Utara Malaysia, MGIMO University, Marmara University, and Handong Global University, among others.

We congratulate the Banking and Finance Academy on 30 remarkable years of shaping Central Asia’s financial future, and look forward to continued collaboration.

For more information about CAG’s advisory work and ventures, contact us at [email protected]

03/05/2026

CAG Presents at the XXVI April International Academic Conference Higher School of Economics, Moscow

Moscow, April 2026

Central Asia Group (CAG) was proud to participate in the prestigious XXVI April International Academic Conference named after E.G. Yasin, hosted by the National Research University Higher School of Economics (HSE), one of Russia’s leading research institutions.

Tabarruk Nabijon, Founder & President of Central Asia Group, contributed to the roundtable session titled “Rethinking Finance: Pathways to Sustainable and Inclusive Systems” a high-level academic discussion on the transformation of Islamic finance into a broader model of partnership finance and its potential to address pressing global economic challenges.

The session brought together leading scholars and practitioners to examine the rapid growth of global debt now exceeding USD 102 trillion and the structural limitations of traditional lending models. Discussions explored how partnership finance instruments, including Mudarabah-based models and sukuk structures, offer a fundamentally different logic: replacing debt obligation with co-investment, risk-sharing, and asset-backed participation.

CAG’s contribution drew on the livestock investment platform as a live case study demonstrating how a 1,400-year-old Islamic finance principle can be operationalised through modern digital infrastructure, built by a Central Asian founder for a global Muslim investor community.

The conference brought together academics, policymakers, and international practitioners across economics, law, and Islamic finance reflecting the growing recognition of partnership finance as a mainstream alternative in the evolving global financial landscape.

CAG is committed to contributing to this global academic and policy conversation, bridging Central Asia’s rich intellectual heritage with the practical demands of today’s financial systems.

For more information about CAG’s research and advisory work, contact us at [email protected]

16/02/2026

Happy Chinese New Year, Dear Brothers and Sisters! From House of CAG.

01/12/2025

Central Asia's Retail Market to Surpass $100B in 2025: A Turnina Point for Reaional Growth and Investment

The latest INFOLine forecast shows that Central Asia's retail market will exceed $100 billion for the first time in 2025-a milestone that reflects the region's rapic economic transformation.

Projected 2025 retail turnover (real terms)

🇰🇿 Kazakhstan: +6.5-7.5% (> $50.4B)
🇺🇿 Uzbekistan: +11-13% ( $34.5B)
🇰🇬 Kyrgvzstan: +10-12% ( $11.1B)

This momentum is driven by strong domestic demand population growth, rapid urbanization, and the expansior of modern retail infrastructure across maior cities.

Why this matters

1. Investment Attractiveness:
Central Asia is evolving into a robust consumer market creating new opportunities for global and regiona nvestors across retail, loaistics, FMCG, commercial rea estate, and digital commerce.

2. E-Commerce Surge:
Online trade is expected to grow 30-50% annually enabling companies to expand their footprint without heavy investment in physical stores. Kazakhstan anc Uzbekistan remain the most dynamic e-commerce hubs.

3. Economic Transformation:
A rapidly expanding retail sector contributes to iob creation, SME growth, tax revenues, and broader economic diversification-supporting the region's transition from resource-driven economies to consumer-driven markets.

The Bottom Line

Central Asia is emeraing as one of the world's most promising new consumer and investment destinations

For companies and investors looking to enter high-growth markets with strong demographics and increasinc purchasing power, the timing has never been better.

10/11/2025

CAG conducted a Dialogue with Malaysia’s F&N Group on Central Asia’s Booming Potential

TASHKENT, UZBEKISTAN – November 9, 2025 – In a collegial meeting marking Central Asia’s re-emergence as a pivotal global market, the CAG team, led by Dr. Ali Sher Mohamad and Mr. Tabarruk Nabijon, held informative discussions with executives from Malaysia’s renowned F&N Group. The meeting, held in Tashkent, brought together expertise in regional development and international market strategy to explore the vast potential of the Central Asian consumer market.

The F&N delegation, comprising Mr. Patrick Heng, Manager of International Market Development, and Ms. Hazel Wong, Executive of International Market Development, was in Uzbekistan on a strategic market research trip. The dialogue centered on the unique opportunities presented by the rapidly evolving economies of Central Asia, a region once known as the crossroads of civilizations and now reclaiming its position on the world economic map.

Key points of discussion highlighted the compelling factors drawing global investors to the region:

– First-Mover Advantage: The meeting emphasized the significant benefits for pioneering international brands like F&N to establish a strong presence ahead of competitors in a market ripe for growth.
– Economic Momentum: Central Asia was identified as a hub of fast-growing economic powers, with increasing GDP and a surge in consumer spending power.
– Demographic Dividend: The region boasts a young, active, and growing population, creating a dynamic consumer base eager for quality products.
– Rapid Retail Modernization: The discussion noted the swift development of modern retail infrastructure, including the rapid expansion of supermarket chains and sophisticated warehousing facilities, which facilitates market entry for international F&B products.
– Growing Demand: As disposable incomes rise, so does the demand for diverse, high-quality consumer products, particularly in the food and beverage sector.

Dr. Ali Sher Mohamad of CAG commented, “Central Asia is not just a market of the future; it is the market of today. The confluence of economic growth, demographic trends, and infrastructural development creates an unparalleled opportunity for visionary companies. Our discussion with F&N underscores the region’s strategic return to the global stage.”

Mr. Patrick Heng, Manager of International Market Development for F&N, stated, “Our visit to Uzbekistan has been incredibly insightful. Understanding the landscape firsthand and engaging with knowledgeable local partners like CAG is crucial. The potential for a portfolio like ours in Central Asia is substantial, and we are keen to explore avenues to bring F&N’s beloved brands to this vibrant and growing consumer base.”

This meeting between CAG and F&N International Market Sdn. Bhd. marks a forward-looking step in bridging Southeast Asian industry leaders with the burgeoning opportunities in the heart of Central Asia, signaling a new chapter of cross-regional trade and investment.

About F&N:
Fraser & Neave Holdings Bhd (F&N) is a leading multinational corporation and a household name in Malaysia and the region, with a rich heritage in the food and beverage industry. Known for its diverse portfolio of soft drinks, dairy products, and more, F&N is actively expanding its footprint in international markets. https://www.fn.com.my

&N

08/11/2025

Central Asia Group Forges Strategic Alliance with MCMTC to Establish Malaysian Trade House in Central Asia

TASHKENT, UZBEKISTAN – In a significant step towards strengthening economic ties between Malaysia and Central Asia, Central Asia Group (CAG) met with a high-level delegation from the Malaysian Consortium of Mid-Tier Companies (MCMTC) on Friday, 7 November 2025. The meeting, hosted at the Embassy of Malaysia in Tashkent, culminated in a landmark agreement for CAG and MCMTC to collaborate on establishing a Malaysian Trade House in the Central Asian region.

The delegation was led by Mr. Martin Ang, President of MCMTC, and included Ms. Lee Pang, Vice President of International, and Ms. Christina Tee, who also serves as the President of the Malaysian International Chamber of Commerce and Industry (MICCI). The meeting served as a dynamic forum to explore concrete business collaboration and investment opportunities across key sectors such as FMCG, lifestyle products, renewable energy, information technology, and logistics.

Representing CAG’s leadership and strategic direction were Dr. Ali Sher Mohamad, Senior Advisor and Mr. Tabarruk Nabijon, President of CAG. Their deep understanding of the Central Asian market landscape was instrumental in framing the immense potential for Malaysian brands.

The primary outcome of the meeting is a formal commitment for CAG and MCMTC to work hand-in-hand in creating the Malaysian Trade House. This pioneering platform is designed to be a central hub, facilitating the entry and expansion of Malaysian products and companies into the vibrant and fast-growing Central Asian markets.

“We are thrilled to formalize this partnership with MCMTC,” said Dr. Ali Sher. “The Malaysian Trade House initiative is more than a project; it’s a strategic corridor that will unlock mutual growth. It provides a structured, supported pathway for leading Malaysian mid-tier companies to access a new frontier of consumers, leveraging CAG’s unparalleled on-the-ground intelligence and network.”

Mr. Martin Ang, President of MCMTC, added, “The potential in Central Asia is undeniable. Our meeting with CAG was exceptionally productive, and their capability is clear. By joining forces, we can de-risk market entry for our members and create a powerful, unified presence for Malaysian quality and innovation in the region. This partnership is a game-changer.”

This initiative underscores CAG’s core mission of delivering tangible results by bridging international businesses with emerging opportunities in complex markets. The Malaysian Trade House will serve as a testament to CAG’s ability to architect and execute large-scale, impactful economic partnerships.

About Malaysian Consortium of Mid-Tier Companies (MCMTC):
The Malaysian Consortium of Mid-Tier Companies (MCMTC) is a leading industry body dedicated to empowering Malaysian mid-tier companies to scale up and internationalize. It provides a collaborative platform for businesses to enhance their capabilities, access new markets, and drive the nation’s economic growth. Learn more at www.mcmtc.my

About Central Asia Group (CAG):
Central Asia Group (CAG) is a premier consultancy and advocacy firm specializing in navigating complex markets, with a focus on Central Asia and the Caspian region. We provide bespoke solutions in government relations, market entry, business intelligence, and strategic communications to help our clients achieve sustainable growth and a competitive edge.

08/11/2025

CAG Members Champion Malaysia’s Allure at Central Asian Fashion & Craft Briefing

TASHKENT, Uzbekistan – In a vibrant event designed to showcase the rich tapestry of Malaysian culture and tourism, the Malaysian Embassy in Uzbekistan, Tajikistan, and Kyrgyzstan hosted a “Fashion and Craft Briefing” in preparation for the highly anticipated VISIT MALAYSIA 2026 (VM 2026) campaign. The event served as a pivotal platform to engage key stakeholders from across the Central Asian region.

The Central Asia Group (CAG) was proudly represented at the gathering, with its members joining a distinguished assembly of invitees from Tajikistan, Kazakhstan, Uzbekistan, Azerbaijan, and other Central Asian nations. The evening seamlessly blended business, culture, and gastronomy, offering a holistic introduction to the Malaysian experience.

The briefing provided deep insights into Malaysia’s diverse history, captivating geography, and the vast array of tourism opportunities awaiting international visitors. The presentation effectively positioned Malaysia as a must-visit destination for travelers from Central Asia, highlighting its unique blend of modern attractions, pristine natural wonders, and cultural heritage.

A highlight of the evening was an immersive culinary journey. Guests were treated to a curated selection of delicious, unique, and multicultural Malaysian cuisine. The flavors of Malaysia served as a delicious ambassador, offering a tangible taste of the nation’s vibrant diversity and warm hospitality.

“This event was more than a briefing; it was a bridge between cultures,” said Mr. Tabarruk Nabijon, a President of CAG. “Sharing a meal is a universal language of friendship. To experience the warmth of Malaysian culture through its food, while simultaneously learning about the incredible business and tourism opportunities, created a powerful and memorable connection. We are excited to see how this relationship between Central Asia and Malaysia will flourish as we approach VM 2026.”

The “Fashion and Craft Briefing” successfully laid a strong foundation for fostering stronger economic and cultural ties between Malaysia and the Central Asian region. The Central Asia Group looks forward to continuing its support for the VISIT MALAYSIA 2026 initiative and facilitating new pathways for collaboration and exchange.

About VISIT MALAYSIA 2026:

VISIT MALAYSIA 2026 is a national campaign led by the Ministry of Tourism, Arts and Culture Malaysia to position the country as a leading global destination. The campaign aims to celebrate Malaysia’s diversity, heritage, and natural beauty, targeting significant growth in tourist arrivals and economic impact.

About Central Asia Group (CAG):

The Central Asia Group is a leading organization dedicated to fostering business development, investment, and cross-cultural collaboration within the Central Asian region and its international partners.

08/11/2025

CAG Advisor Dr. Ali Sher Instrumental in Forging Uzbekistan-Malaysia Educational Partnership

TASHKENT, UZBEKISTAN – In a significant step towards strengthening international academic cooperation, the Tashkent Medical Academy (TMA) and Advance Pact Sdn Bhd of Malaysia formalized a strategic partnership through a signing ceremony on November 4, 2025.

The ceremony was witnessed by His Excellency Mr. Ilham Tuah, the Malaysian Ambassador to the Republic of Uzbekistan, and Dr. Ali Sher Mohamad, Senior Advisor for Central Asia Group (CAG). Dr. Ali Sher played a pivotal role as the key architect in fostering the professional relationships between the two institutions, leveraging his expertise and network to bring this collaboration to fruition.

This landmark agreement is set to enhance the bilateral educational partnership between Malaysia and Uzbekistan, creating new avenues for academic and professional excellence in the healthcare sector.

The Memorandum of Understanding (MoU) establishes a comprehensive framework for collaboration, with key areas of cooperation including:

Academic & Professional Development: Joint initiatives aimed at advancing healthcare education and professional growth.
Knowledge Exchange: Facilitating the sharing of expertise and best practices through various exchange activities.
Research & Innovation: Collaborative efforts in research and development projects of mutual interest.
Future Collaborations: Exploring other potential areas of partnership as identified by both parties.

Under the agreement, Advance Pact Sdn Bhd will contribute by:
– Providing valuable industry perspectives and technical insights.
– Facilitating connections with relevant professionals and resources.
– Identifying potential student engagement opportunities.
– Participating in joint academic and professional events.

The Tashkent Medical Academy will take the lead on:
– Structuring and leading the relevant academic programs.
– Proposing suitable candidates for various exchange and collaboration initiatives.

This partnership promises to create a dynamic platform for students and professionals from both Uzbekistan and Malaysia, fostering cross-cultural learning and driving innovation in medical sciences. The involvement of H.E. Mr. Ilham Tuah underscores the diplomatic importance of this educational bridge between the two nations.

Central Asia Group proudly celebrates the instrumental role of our Senior Advisor, Dr. Ali Sher, in facilitating this international partnership, which aligns perfectly with CAG’s mission of fostering development and collaboration across the region.

Address

160 Robinson Road, Business Federation Centre
Singapore
068914

Telephone

+6581000779

Website

http://www.cag.world/

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