Uzbekistan will allocate $50 million to Kyrgyzstan for implementation of various economic projects. This was announced at the meeting of the Committee on Economic and Fiscal Policy. The members approved ratification of the agreement on establishment of the Kyrgyz-Uzbek Development Fund. According to it, Uzbekistan will allocate funds to Kyrgyzstan. A board will be created,…
President Shavkat Mirziyoyev attended the 14th summit of the Economic Cooperation Organization (ECO) on March 4. The event was chaired by Turkish President Recep Tayyip Erdogan. In his address, Mirziyoyev named the space of the Economic Cooperation Organization a region with huge potential, a common history, religion, culture and values. He also underlined that the…
Uzbek President Shavkat Mirziyoyev during his regular meeting on March 3 stressed the need to provide housing for all segments of the population and expand the opportunities for choice. According to plans unveiled at the meeting, the government is to provide housing for 54,000 families this year. In particular, 45,000 houses are to be built…
Uzbek car manufacturer UzAuto Motors plans to shift the delivery time of manufactured cars by up to two months, the company’s representatives have reported. The company cited a worldwide shortage of semiconductors as the reason. “Interruptions in the supply of chips and disruption of logistics chains have already caused the closure of a number of…
Syrdarya region plans to implement 737 projects worth $2.4 billion until the end of 2023, with the share of foreign investment amounting to $900 million. President Shavkat Mirziyoyev reviewed the projects on March 1. New projects are set to deliver $1 billion worth of goods and create almost 36,000 new jobs. The export potential of…
In a bid to develop tourism, President Shavkat Mirziyoyev has signed a decree to modify the taxing and subsiding system in the tourism sector of the country. The government has approved the document and it includes the following changes. Tickets for local flights will be sold with a 25% discount and if purchased through tour…
Fitch Ratings maintained Uzbekistan’s Long-Term Foreign-Currency Issuer Default Rating at BB- with a Stable Outlook throughout 2020. “Uzbekistan has demonstrated resilience to the coronavirus pandemic, supported by its robust external and fiscal buffers, access to external financing and diversified economy. It was among the few sovereigns to avoid an economic contraction in 2020, as timely…