Uzbekistan: EBRD planning investments

The European Bank for Reconstruction and Development (EBRD) aims at long-term cooperation with Uzbekistan, Natalia Khanjenkova, managing director for Central Asia and Russia at the EBRD, said. It was previously reported that an EBRD delegation headed by Khanjenkova arrived in Tashkent on February 7, to discuss cooperation prospects. “On the basis of consultations with the…

Uzbekistan: pensions to be paid in cash starting February 2017

President Shavkat Mirziyoyev signed the Resolution “On Additional Measures for Improvement of Wage, Pensions, Welfare Benefits and Stipend Payment Mechanisms.” The resolution outlines unprecedented steps to secure the rights and interests of pensioners, students and other socially vulnerable groups, who will now have fewer hurdles in paying for goods and services across Uzbekistan. The resolution…

Uzbekistan: Tashkent hosts Uzbek-American business forum

The American-Uzbek Chamber of Commerce held its regular meeting. Representatives of some 30 major US companies, including General Motors, General Electric, Caterpillar discussed the current state and priority directions of economic and investment cooperation, aimed at further strengthening mutually beneficial business relations between Uzbekistan and the United States. The Uzbek side at the meeting was…

Uzbekistan: new bank to be created

Uzagroexportbank, a joint stock commercial bank, will be created in Uzbekistan to support manufacturers and exporters in the agricultural sector, according to the decree of the Uzbek President Shavkat Mirziyoyev. The founders of the newly established bank with an initial registered capital of 10 million euros will include the Fund of the Reconstruction and Development…

Uzbekistan: exporters contract for $55.6 million on Green Week

Uzbek exporters and regional and district khokims continue negotiations on exports to foreign countries, including European states, at Green Week, an international agricultural exhibition. On the fourth day, exporters met representatives of Central Investments Worldwide L.P. and Better International Trade (UK), GIZ (Germany), Avietes (Lithuania), Befresh (Israel), Greenfield Agro and Shri Niwas Dall & Besan…

Uzbekistan: airways to launch new flights

Uzbekistan Airways announced it planned to launch flights to Dushanbe (Tajikistan) and Lahore (Pakistan) in 2017. The company is also working on flights to Mumbai (India) and Guangzhou (China). Director-General Valeriy Tyan said Uzbekistan Airways bought 4 more Boeing 787 Dreamliners and went ahead with Tashkent 4, a new passenger terminal expected to serve 1,500…

Uzbekistan: export deliveries to Ukraine expanded

Business circles of Uzbekistan and Ukraine signed bilateral agreements in the diplomatic mission of Uzbekistan in Kiev, aimed at increasing the volume of exports of the Uzbek producers. In particular, representatives of JSC Uzsanoateksport and JSC Uztadbirkoreksport signed agreements for a total amount of $7.05 million on the export of products of domestic manufacturers, namely…

Uzbekistan: trade with Afghanistan to increase

On January 24, the government delegation of the Republic of Uzbekistan headed by Foreign Minister Abdulaziz Kamilov held a meeting with senior Advisor to the President of the Islamic Republic of Afghanistan on economic issues Humayun Kayumi, special representative of the President for cooperation with the countries of Central Asia and Russia Mahamad Shokir Korgar.…

Uzbekistan: over 8.2 million tons of grain produced in 2016

The implementation of numerous measures on agriculture development for the period 2016-2020, aimed at ensuring increased yields and productivity of agricultural products, the expansion of cultivated lands for growing fruit and vegetables, resulted in increased volumes of products (services) in agriculture, forestry and fishing at 6.6% YoY. Meanwhile, growth in crop sector, animal production and…

Uzbekistan: sale of state properties simplified

President of Uzbekistan Shavkat Mirziyoyev has signed a decree “On measures to further simplify and accelerate sale of state properties to be used for business purposes”. The provisions of the decree eliminate bureaucratic barriers to privatization of state properties and contribute to the organization of production at the privatized facilities. The document also simplifies some…

Uzbekistan: FEZ “Jizzakh” produces 255.2 billion soums worth of goods

The presidential decree “On additional measures for the intensification and expansion of activities of free economic zones” dated October 26, 2016 serves as an important guide to action in creating a more favorable investment climate, expanding privileges and preferences. A single legal regime for free economic zones, unification of tax and customs privileges and preferences,…

Uzbekistan: Eriell GmbH buys 51% of Uzbekneftegaz’s subsidiary’s shares

Austrian Eriell GmbH has acquired controlling stake of Sarbon-Neftegaz JSC, the transportation division of Uzbekneftegaz National Holding Company, Tashkent Republican Stock Exchange said in a message. The Austrian company acquired 561,930 shares at $6.04 per share. A package of shares was purchased at $3.394 million from Uzgeoburneftegaz – subsidiary of the holding, Uzbekneftegaz said. Sarbon-Neftegaz…

Uzbekistan: Karshi-Dekhkanabad 90 km railway section electrified

As technological development necessitated transportation development, Uzbekistan electrified 1700 kilometres of its railway network, putting into operation 500 kilometers in 2016 alone. Following the 2010 Presidential Resolution “On Accelerating Infrastructure, Transport and Communication Construction Development in 2011-2015” Uzbekistan electrified and commissioned the Marakand-Karshi railway section in summer 2015. This led to the launch of an…