Uzbekistan and Kazakhstan are planning to increase the volume of mutual trade to $4 billion. Nowadays, Kazakhstan and Uzbekistan carry out joint projects and cooperation programs in such areas as mechanical engineering, electrical engineering, food industry, tourism, transport and logistics. Recently, the volume of trade between the two countries has grown at a high rate.…
The Uzbek flag carrier will soon connect the capital cities of Uzbekistan and Georgia with new seasonal flights. Uzbekistan Airways will start operating flights on the route Tashkent-Tbilisi from July 16. During the summer season flights will be performed twice a week on Tuesdays and Sundays by an Airbus 320 type aircraft. Uzbekistan Airways was…
Enterprises of Uzkimyosanoat JSC manufactured marketable products in the amount of 1.636.8 trillion soums ($193.736 million) in January-March, up by 20.6% YoY. Chemical enterprises produced 334,960 tons of mineral fertilizers, including 252,170 tons of nitrogen fertilizers, 37,770 tons of phosphate fertilizers and 45,020 of tons potash fertilizers. During the reporting period, 1,276.5 million tons of…
Uzbekistan’s expenditures on the import of weapons and ammunition, their parts and accessories in 2018 amounted to $700,000, the Central Bank reported. In 2016-2017, $300,000 was spent for these purposes. Thus, over the past year, spending on armaments has more than doubled. Data on the import of weapons and ammunition are disclosed by the Central…
Uzbekistan Railways is implementing a new project to modernize the Andijan-Sawai-Khanabad railway and organize passenger intercity train traffic there. The project provides for the modernization of the railway section with a length of over 50 kilometers, as well as straightening parts of the track, reconstruction of artificial structures, modernization of alarm systems and telecommunications, construction…
Nine commercial banks of Uzbekistan have been suspended from participation in currency trading “due to systematic violations related to transactions on the currency exchange”, the Central Bank of Uzbekistan reported. Hamkorbank, Turkiston Bank, HayTek Bank, Universal Bank, Invest Finance Bank, Ipak Yuli Bank, Savdogarbank, Trust Bank and Asia Alliance Bank were among those removed. “Measures…
The state policy of Uzbekistan is aimed at the development of tourism so that this area in the future should become one of the drivers for the accelerated integrated development of the regions and their infrastructure. Tourism development should contribute to the solution of such major social and economic tasks as the creation of hundreds…
The Uzbek-Egyptian business forum was held on March 1, in Tashkent during the visit of Egyptian delegation led by Deputy Minister of Trade and Industry of Egypt, Ahmed Taha Boraya. The event was attended by representatives of business circles of the two countries: officials of more than 40 Egyptian companies, such as “Techno Marble”, “El-Garhy…
Uzbekistan’s government has approved regulations on the export of fruits and vegetables, the Ministry of Justice reported. In accordance with the document, entrepreneurs have the right to export fruit and vegetables without a license for wholesale trade, and taxation is applied to their revenues, providing for a single tax payment. The export of fruit can…
In 2018, Uzbekistan increased the imports of vegetable oils by 42.1% in physical terms compared with the previous year, to 175.4 thousand tons, and in monetary terms – by 19.3%, to $147.4 million, declared the Ministry of Agriculture and Water Resources. In particular, the imports of sunflower oil demonstrated the most significant upward trend –…
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…
President of Uzbekistan Shavkat Mirziyoyev visited Forish district of Jizzakh region and the site where the first nuclear power plant of Central Asia would be built in 8-9 years. The head of state spoke with the leaders of the UzAtom Agency and the Rosatom Corporation. He noted that the project was a new strategic area…
The preparations for the construction of a 200-meter high building, the highest in Uzbekistan, as part of the International Business Center Tashkent City project, has started. Currently, the construction is in its second phase. The calculations and analytics are done with use of IT technologies. Recently, the geological research of the soil has been completed…
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…
Power supply in south Uzbekistan will be significantly improved thanks to the construction of the additional generation capacity at existing Talimarjan power plant (TPP) with the help of a up to $240-million sovereign loan provided by the EBRD to JSC Uzbekenergo. The project will be the largest EBRD investment in Uzbekistan to date. The funding…
Uzbekistan is negotiating to attract Germany’s Deutsche Bahn for reforming Uzbekistan Railways. “Now we are working with Deutsche Bahn, a German state-owned company, the world’s largest railway freight carrier. We are now negotiating with them to attract their experts and consultants to develop a strategy for further activities of Uzbekistan Railways,” said Laziz Kudratov, the…
Uzbekkhimmash, a subsidiary of Uzbekneftegaz, will direct more than $23 million to a foundry modernization project with construction of a new foundry. The government of Uzbekistan has recently approved main parameters of a feasibility study on this investment project. The new foundry’s annual capacity will be 4,000 tons of casting, of which about 500 tons…
Uzbekistan Railways is considering the possibility of building another high-speed railway to Samarkand. “Recently, the company’s management has raised the issue of building a dedicated electrified line from Tashkent to Samarkand, which will be run only by Afrosiyob train. This will shorten the journey to about 1 hour and 20 minutes,” said the message. It…
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…
Investments in the economy of Uzbekistan should grow by 16%, to $17 billion in 2019, said President Shavkat Mirziyoyev during the annual address to the Houses of Parliament on December 28 It is planned to absorb 138 trillion soums of investments ($16.6 billion). At the same time, the authorities plan to increase the size of…
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…
The Indian company, Synthite Industries Ltd, plans to implement a project for the cultivation and processing of pepper in Uzbekistan. Negotiations were held between the leadership of the Indian company and the Deputy Chairman of the State Committee for Investments, Shamil Burnashev, on December 19. Pepper is selected as an experimental crop for this initiative.…
At least 9 new customs terminals will be built in 2019-2021 in Uzbekistan on the border with Kazakhstan and Kyrgyzstan. The decree was signed by President of the Republic of Uzbekistan Shavkat Mirziyoyev. Four of them will be built in 2019-2020, and five more – in the next two years. “The state bodies and other…
About 1.5 billion kWh of electricity was exported by Tajikistan to Uzbekistan in April-September 2018. First deputy chairman of Barki Tochik, Mahmadumar Asozoda, more precisely stressed that for this period 1 billion 480 million kWh of Tajik electricity was exported at a price of $0.02 per kilowatt. Representative of Barki Tochik said that since September…
China’s Gansu Hengya Cement Co. will invest in the construction of a new cement plant in Kattakurgan district of Samarkand region of Uzbekistan. The cost of a new cement plant with a capacity of over 2.4 million tons of cement per year is $420 million. The project will be implemented in two stages. At the…
Uzbekistan has significantly increased its trade turnover with the countries of the Central Asian Regional Economic Cooperation (CAREC) in the first three quarters of 2018, Foreign Trade Minister Jamshid Khojayev declared. “It is good to see that trade with CAREC member countries is growing at an accelerated pace. In the three quarters of this year,…
The first plant in Central Asia, on the basis of which the industrial production of frozen French fries and potato flakes will be launched in November, has been built in Uzbekistan. The production capacity of the plant will be up to 20,000 tons of finished products per year. Work on the project has been going…
Uzbekistan has lifted restrictions on the export of products in eight product groups. Starting from January 1, 2019 it will be allowed to export pork, meat and poultry by-products, pork fat and poultry fat, vegetable oil, sugar, bakery products, tungsten ore and concentrates, as well as silk waste without any restrictions. On October 30 Uzbek…