Uzbekistan: Korean holding to construct cement plant

South Korean company Evergreen Holdings plans to build a cement plant in Karakalpakstan. A relevant agreement was signed in Seoul between the representatives of “Uzkurilishmaterialary” and the Korean company. The total cost of the project exceeds $300 million. Evergreen Holdings intends to implement it in several stages based on the demand in Uzbekistan and neighboring…

Uzbekistan: GDP growth rate disclosed

According to the preliminary estimates, Uzbekistan’s GDP totaled 170,74.8 trillion soums and the real growth rate was 105.3% in January-September compared to the same period of 2016, the State Statistics Committee said in a message. According to the message, the growth rate in the main sectors of the economy, such as agriculture, forestry and fishery…

Uzbekistan: aviation agreement with Spain inked

Uzbekistan and Spain have signed agreements on air services and international road transport, the Uzbek Foreign Ministry reported. The document was signed by Foreign Ministers of Uzbekistan and Spain Abdulaziz Kamilov and Alfonso Dastis in Madrid. The signed documents create a legal basis for the development of bilateral cooperation in the transport and communication sphere…

Uzbekistan to develop beekeeping

Honey, a healthy foodstuff, which improves human nutrition and boosts immunity, has long tradition as a food source in Uzbekistan. Currently, beekeeping continues to develop dynamically in the country. Special attention paid to the development of beekeeping and saturation of the domestic market with affordable and high-quality products had a positive impact on the expansion…

Uzbekistan: new requirements set for local banks

Minimum authorized capital for each newly established commercial bank in Uzbekistan will be 100 billion soums starting from October 1. According to the decree of the country’s President Shavkat Mirziyoyev “On measures to further develop and improve stability of Uzbek banking system”, the banks operating in Uzbekistan must bring their authorized capital, if necessary, to…

Uzbekistan: former deputy PM named UzAir head

Uzbekistan’s former Deputy Prime Minister Ulugbek Rozukulov has been appointed the director general of the country’s national airline Uzbekistan Airways, a source in the airline’s management reported on August 24. Uzbekistan Airways was earlier headed by Valeriy Tyan. Uzbekistan Airways is a flag carrier airline in Uzbekistan and is wholly owned by the state. It…

Uzbekistan: GMU suspending car production

GM Uzbekistan has announced about suspension of car production due to maintenance work. The car manufacturer GM Uzbekistan located in Asaka, suspends production from August 22 till September 10 due to the planned maintenance work, said the company’s press service. It is planned to carry out preventive inspection and maintenance of main and auxiliary processing…