Uzbekistan and Turkey sign deals worth $2 billion

A set of documents and agreements was signed in Tashkent on May 25 following a meeting of the Uzbekistan-Turkey Intergovernmental Commission for Trade and Economic Cooperation and the Uzbekistan-Turkey business forum. The documents and agreements envisage the implementation of around 30 projects in pharmaceutics, textile industry, electro-technical, construction and banking sectors, worth more than $2…

Uzbekistan and Turkmenistan reach agreement on electricity transit

Uzbekistan’s state power company Uzbekenergo and Turkmenistan’s Ministry of Energy signed a memorandum envisioning cooperation in the transit of electricity from Turkmenistan to Kazakhstan and Kyrgyzstan through Uzbekistan’s power grid. The memorandum was signed during Uzbek president’s working visit to Turkmenistan. Under the terms of the memorandum, Turkmenistan will deliver electricity to Uzbekistan in exchange…

Uzbekistan: Peugeot Citroen to launch production of commercial vehicles

Peugeot Citroen and JSC Uzavtosanoat entered into agreement to establish a joint venture – Uzbekistan Peugeot Citroen Automotive. This partnership is aimed at building a production plant in Jizzakh SIZ. The plant will specialize in the production of full industrial cycle of light commercial vehicles under the brands “Peugeot” and “Citroen”, intended for transportation of…

Uzbekistan: free economic zones for pharma firms created

President Shavkat Mirziyoyev singed a decree to create the free economic zones Nukus-pharm, Zomin-pharm, Kosonsoy-pharm, Sirdaryo-pharm, Boysun-pharm, Bustonlik-pharm, and Parkent-pharm, in efforts to draw investment to the pharmaceutical industry, produce high-quality medicine, boost Karakalpakstan, Djizzak, Namangan, Sirdarya, Surkhandarya and Tashkent’s industrial capacities, and create new jobs. With pharmacy bearing much importance, Uzbekistan has always paid…

Uzbekistan: Chinese business to expand its presence

Chinese business delegation comprised of representatives of several major corporations visited Uzbekistan. They attended a business forum with participation of business circles of the two countries. The State Committee of Republic Uzbekistan for investments organised the event. Welcoming the participants, Deputy Prime Minister Ulugbek Rozukulov noted that the two countries had established a strategic partnership…

Tajikistan and Uzbekistan resume flights after 25 years

Tajikistan and Uzbekistan have reestablished regular connecting flights after a 25-year break, paving the way for improved relations, a spokeswoman at Tajikistan’s international airport said. “An Uzbekistan airways flight (from Tashkent) landed at Dushanbe international airport at 8:03 am (0303 GMT),” she said. According to her, “the plane and the passengers were very well met.”…

Uzbekistan: Uzbekneftegaz and KazMunayGas to cooperate

KazMunayGas and Uzbekneftegaz signed a cooperation agreement to jointly develop oil product marketing and logistics, set up crude oil supply to Uzbekistan, and ensure oil transit across Kazakhstan. Uzbekneftegaz also signed a memorandum of understanding with Kazakhstan’s energy ministry to cooperate in oil and gas industry. According to KazMunayGas, KazTransOil pipelines may be reconstructed and…

Uzbekistan: Uzbekipaksanoat silk association set up

Historically important, Uzbekistan’s silk sector has seen structural reforms since independence, attracting foreign investment, upgrading production techniques, and expanding production. Boasting good natural conditions, Uzbekistan has 80 million plants and 51,000 hectares of plantations, producing 26,000 tons of cocoons. The silk sector has been stunted in recent years by falling demand worldwide and outdated production…

Uzbekistan: Karakalpak and Khorezm entrepreneurs to get rebates

On March 17, President Shavkat Mirziyoyev signed the resolution ‘On additional favorable conditions for entrepreneurial activity in Karakalpakstan and Khorezm regions’. The resolution aims at boosting economy, supporting entrepreneurs, nudging exports, and implementing investment projects in the two regions. Legal entities registered and doing business in Karakalpakstan and Khorezm are exempt from compulsory sale of…

Uzbekistan: Competition committee and German Foreign Ministry discuss cooperation

The State Privatization, Demonopolization, and Competition Development Committee met with the representatives of Germany’s Foreign Ministry to discuss cooperation. The committee has closely worked together with German experts, including Finance Ministry, since 2009, pushing off the Memorandum of Understanding in Privatization and State Property Control. German support helped introduce the Corporate Governance Code in 2016,…

Uzbekistan: 960 localization projects to be implemented in 2017

Increasing the level of localization of finished products plays an important role in further dynamic and sustainable development of the economy, reducing its dependence on external factors, accelerating the introduction of new efficient technologies in production processes. That is why localization is one of the main directions of industrial development in Uzbekistan, which ensures wide…

Uzbekistan: micro-lending to entrepreneurs to be simplified

President Shavkat Mirziyoyev signed a decree “On measures for further simplification of the system of micro-lending to businesses and the wider population”, aimed at ensuring broad access to preferential micro-loans. The decree provides for the introduction of a simplified mechanism for granting micro-loans to newly registered individual entrepreneurs (IE) and family business entities (FBE) without…

Tajikistan expresses gratitude to Uzbekistan for humanitarian aid

Tajikistan has expressed gratitude to Uzbekistan for humanitarian aid sent to disaster-affected people. According to the Uzbek MFA’s official website, the Uzbek Embassy in Dushanbe has received the letter of thanks from the Committee on Emergency Situations and Civil Defense under the government of Tajikistan for humanitarian aid sent by the Uzbek authorities to Tajikistan…

Uzbekistan: Competition Committee and WB jointly boosting small business

The State Competition Committee received the World Bank mission in Uzbekistan to discuss small business support through the Small Business Development Guarantee Fund. Held under the World Bank’s Modern Economy-backed Job Expansion and Skill Development Project, the meeting reviewed small businesses’ efficiency and praised the setting up of the Guarantee Fund. Specialists said they were…

Uzbekistan: Ministry of economy and EBRD to develop cooperation program

The Ministry of economy of the Republic of Uzbekistan held a meeting with the President of the European Bank for reconstruction and development Suma Chakrabarti. EBRD delegation was informed in detail about the achievements of the socio-economic development of the country in recent years, in particular about large-scale economic reforms aimed at further structural transformation…

Uzbekistan: Japan allocates over $500,000 for social projects

Japan has allocated grants worth $551,100 to Uzbekistan for the implementation of eight social projects, the Japanese embassy said. The grants are allocated through the Japanese governmental program “Official Development Assistance” (ODA), the embassy said. Uzbek Deputy Minister of Healthcare Elmira Basitkhanova, the country’s First Deputy Minister of Public Education Bakhtiyor Daniyarov and Japanese Ambassador…