Uzbekistan: 960 localization projects to be implemented in 2017

Increasing the level of localization of finished products plays an important role in further dynamic and sustainable development of the economy, reducing its dependence on external factors, accelerating the introduction of new efficient technologies in production processes. That is why localization is one of the main directions of industrial development in Uzbekistan, which ensures wide…

Kyrgyzstan: reasons for low profitability of state enterprises to be clarified

Members of the interdepartmental commission in a month should find out the reasons for the loss and low profitability of state-owned enterprises, Vice Prime Minister Zhenish Razakov said at a meeting on optimization of state property management, the information department of the Kyrgyz government reported. “The state represented by the State Property Management Fund participates…

Turkmenistan: IMF urging to support private sector

In the challenging external environment, maintaining strong, sustainable, and inclusive growth for Turkmenistan will require improvements in the business and regulatory environment to support further private sector development, the IMF (International Monetary Fund) mission said in a message following the visit to Ashgabat. Effective implementation of reforms of state-owned enterprises and privatization, greater efficiency of…

Ukraine: Kyivavtodor officials accused of UAH 300 million embezzling

Officers of the Security Service of Ukraine (SBU) jointly with Prosecutor General’s Office (PGO) have revealed embezzlement of hundreds of millions of hryvnias by officials of municipal corporation Kyivavtodor. The press service of SBU reported that it was established that officials embezzled funds of the national and city budgets provided for construction, maintenance, overhaul and…

Kyrgyzstan: exports to EEU up in 2016

Kyrgyzstan has managed to increase deliveries of products to the markets of the Eurasian Economic Union (EEU) in 2016 despite the decline in its trade turnover with members of the union in the same period, Vice Prime Minister of Kyrgyzstan Oleg Pankratov said. “If we take the total figure, the drop in external trade with…

Ukraine: PrivatBank to expand cooperation with government in providing some social services

State-run PrivatBank plans to expand cooperation with the government in providing some social services on the basis of Privat24 platform, PrivatBank Head Oleksandr Shlapak has said. “PrivatBank today is a leader of the so-called ‘digital banking.’ For many years we have been providing services that no country provides. We are trying to convince the government…

Uzbekistan: micro-lending to entrepreneurs to be simplified

President Shavkat Mirziyoyev signed a decree “On measures for further simplification of the system of micro-lending to businesses and the wider population”, aimed at ensuring broad access to preferential micro-loans. The decree provides for the introduction of a simplified mechanism for granting micro-loans to newly registered individual entrepreneurs (IE) and family business entities (FBE) without…

Ukraine: Alfa-Bank Ukraine not to be sold

The sale of Alfa-Bank Ukraine is not being planned, one of the bank’s major shareholders Petr Aven declared. “We are not preparing to sell,” Aven said, adding that Alfa-Bank currently had a “normal working relationship” with the National Bank of Ukraine. Earlier, the director of strategic communication of Alfa-Bank Ukraine Denis Kazvan said that after…

Kazakhstan: grain stocks at 11 million tons

As of March 1, the registered carry-over stocks of grains and pulses in Kazakhstan totaled 11.735 million tons, the Statistics Committee of the Ministry of National Economy of the Republic of Kazakhstan reported on March 21. In particular, peasant and farming households stored 2.483 million tons of grains. Wheat formed the major share of the…