Having decreased by $1.37 billion over the month, the volume of gross gold and foreign exchange reserves of Uzbekistan as of July 1 amounted to $34.14 billion, according to the data unveiled by the Central Bank. The country’s gold and foreign exchange reserves declined after a record high in early June, which was $35.5 billion.…
Considering the rising demands in the world market for viticulture, Uzbekistan is planning to create its own brand and use its potential of exporting $600 million worth of grapes in the near future. This topic was under scrutiny at the recent videoconference chaired by President Shavkat Mirziyoyev. Vineyards occupy some 90,000 hectares of land in…
Analysts of the Eurasian Development Bank (EDB) have assessed the consequences of Uzbekistan’s possible accession to the Eurasian Economic Union (EAEU). According to their forecast, this would allow Tashkent significantly increasing the inflow of infrastructure investments and money transfers, expanding exports and strengthening industrial cooperation. The EAEU itself would also benefit from the expansion. They…
Uzbek President Shavkat Mirziyoyev has inked a new law aimed at improving the public procurement system. According to the document, from July 5, the relevant corporate customers should publish announcements about the conduct of procurement procedures and information about its results on a special information portal and through the media. The current procedures for carrying…
Moody’s Investors Service has improved Uzbekistan’s rating outlook to positive from stable, and concurrently affirmed the B1 long-term issuer and senior unsecured ratings and the (P)B1 senior unsecured MTN program ratings. “The outlook change to positive reflects demonstrated improvements to institutional capacity and policy effectiveness that, if continued, will support a higher rating. In Moody’s…
Minister of Innovative Development of Uzbekistan Ibrokhim Abdurakhmonov had a telephone conversation with Ambassador of China to Uzbekistan Jiang Yan. At the beginning of the conversation, the ambassador congratulated on the successful holding of the fifth meeting of the subcommittee on scientific and technical cooperation of the Uzbek-Chinese Intergovernmental Committee for Cooperation and highly appreciated…
Uzbekistan’s capital city of Tashkent plans to spend $3.9 million towards the procurement of electric buses, the press service of the Ministry of Transport has reported. The project aims at improving the quality of the environment by introducing accelerated use of electric transport in urban public transport on the example of the capital. Further, this…