Uzbekistan: GMU to be renamed

GM Uzbekistan will be renamed in the coming months, the UzAvtoSanoat Deputy Chairman Aziz Shukurov announced. Shukurov added that the Chevrolet and Ravon brands would remain. “The issue of renaming will be resolved in the near future, and we will inform about it soon,” Shukurov said during a press conference. The company exports its products…

Uzbekistan: trade with Russia up in 2018

The trade turnover between Russia and Uzbekistan in 2018 increased by 21% YoY, to $5.7 billion, said the Ambassador of Uzbekistan to the Russia, Bortizhon Asadov. “Russia remains the largest trading partner of Uzbekistan. Mutual trade grew by 21% and reached $5.7 billion at the end of 2018,” the ambassador said. President of Uzbekistan Shavkat…

Uzbekistan: exports to Ukraine to increase

In 2019, Uzbekistan plans to increase exports to Ukraine to $220 million and resume flights between Tashkent and Kiev. The announcement was made by the Uzbek Ambassador to Ukraine Alisher Abdualiyev. In addition, it is planned to develop projects to attract direct investments of $10 million in Uzbekistan for the production of pharmaceutical products. It…

Uzbekistan: UAE company to buy securities of second largest bank

UAE-based investment company Frontera Capital will acquire securities of O’zsanoatqurilishbank. The delegation of O’zsanoatqurilishbank visited the United Arab Emirates, where the parties signed the agreement on development of cooperation. The document provides for raising $50 million using investment and credit instruments. The agreement also provides for the sale of securities of the Uzbek bank to…

Uzbekistan: trade turnover with Qatar to increase

Uzbekistan and Qatar intend to expand trade and economic cooperation and achieve sustainable growth in mutual trade, the Foreign Trade Ministry of Uzbekistan stated. According to the information, Deputy Foreign Trade Minister Sahib Saifnazarov held talks with representatives of Qatar’s business community headed by Chairman of the Barwa Group of Companies Sheikh Mohammed Hamad Al-Thani.…

Uzbekistan: reforms in electricity sector mulled with WB

Representatives of Uzbekistan’s state-run energy operator Uzbekenergo and the World Bank Group held a meeting to discuss reforms in the electricity sector of Uzbekistan. The parties discussed a plan on expansion of generating capacity at the lowest cost, research on tariffs, institutional reforms in the electricity sector and renewable energy development. The delegations of Uzbekenergo…

Uzbekistan: UzAir and Korean Air expanding partnership

Director General of Uzbekistan Airways Bakhtiyor Khakimov held talks with Senior Vice-President of the Korean Air Samsug Noh. During the meeting the parties exchanged views on further development of cooperation between Uzbekistan Airways and Korean Air. In particular, the cooperation in passenger and cargo transportation was discussed. Also, the heads of airlines considered the prospects…

Uzbekistan: GMU raises prices for some car models

Uzbek automaker GM Uzbekistan has resumed sales of cars on the domestic market but the prices have increased by 7.7%, the company said. The principles of pricing and reasonableness of the calculation of prices for manufactured cars were considered with the assistance of the country’s government with the participation of representatives of ministries and departments,…