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…

Uzbekistan: foreign trade turnover up in H1 2017

Uzbekistan’s foreign trade turnover rose by 11.1%, to $12.072 billion in January-June, compared with the same period of 2016, the State Statistics Committee of the Republic of Uzbekistan reported. Uzbekistan has increased export operations by 13.1%, to $5.97 billion, imports – by 9.2%, to $6.102 billion. Foreign trade turnover with the CIS countries improved by…

Uzbekistan: single brand to export fruit created

Traditional Uzbek goods, including fresh and processed products of agricultural and food industry are set to be exported under a single brand UzAgro, according to the management of the holding company “Uzbekoziqovqatholding”. According to company representatives, the new brand will serve as a guarantee of high quality of products and services for partners in any…

Uzbekistan: S&P affirms Ipoteka Bank’s rating

S&P Global Ratings affirmed its “B+/B” long- and short-term counterparty credit ratings on Ipoteka Bank JSCM. The outlook is stable. The affirmation reflects S&P’s view that over the past two months Ipoteka Bank’s capitalization has significantly improved on the back of support received from the government of about Uzbekistani sum (UZS) 380.8 billion (about $95…

Uzbekistan: measures to improve tax system approved

President Shavkat Mirziyoev signed a Decree “On measures for radical improvement of tax administration, increase tax collection and other obligatory payments”. The decree notes that the country has formed a tax system that provides for a consistent reduction of the tax burden and creates a favorable climate for business development and attracting foreign investment. However,…

Uzbekistan: banks entitled to carry out transactions on foreign exchange market at market exchange rate

The transactions on purchase and sale of foreign currency between the authorized banks and their clients were carried out at the average exchange rate fixed in interbank trading sessions held in Uzbekistan during the previous week. By its resolution the Uzbek government abolished this procedure. According to the decision of the country’s Cabinet of Ministers,…

Turkmenistan: Tashkent and Ashgabat mull issues of expanding cooperation

Central Asian states, Uzbekistan and Turkmenistan, which traditionally enjoy fruitful and successful cooperation, voiced commitment to deepen the ties. Uzbekistan’s President Shavkat Mirziyoyev and Deputy Chairman of the Cabinet of Ministers, Foreign Minister of Turkmenistan Rashid Meredov discussed the expansion of practical Uzbek-Turkmen cooperation. The sides discussed the expansion of cooperation between the countries, as…

Turkmenistan: Berdimuhamedov and Mirziyoyev satisfied with cooperation

Presidents of Uzbekistan and Turkmenistan, Shavkat Mirziyoyev and Gurbanguly Berdimuhamedov held a telephone conversation to review prospects to deepen the ties. Both sides noted with satisfaction the intensification of contacts at all levels, as well as actively implemented joint projects in trade and economic, transport-communication, energy, cultural and humanitarian and other spheres. A number of…

Uzbekistan: gas condensate imports from Turkmenistan up

Uzbekistan will increase the supply of gas condensate from Turkmenistan to load the Bukhara oil refinery, Turkmenneft state concern reported citing Uzbekneftegaz National Holding Company. A number of documents on cooperation in the economic and energy spheres, including an agreement between Uzbekneftegaz and Turkmennebit (Turkmenneft) were signed during the visit of Uzbekistan’s President Shavkat Mirziyoyev…