Saturday, 22, February, 2020

Economy

Uztransgaz and the Asian Development Bank (ADB) have begun drafting the Gas Master Plan (GMP), which provides for the establishment of a Central Asian gas hub in Uzbekistan, the Ministry of Energy said in a statement.

Today in Ankara’s JW MARRIOT Hotel, the Uzbek President Shavkat Mirziyoev, as part of his trip to Turkey, met with the officials of the Association of Chambers of Commerce and Exchange of Turkey, the Turkish Agency for Cooperation and Coordination (TIKA), Gebze industrial zone as well as the senior executives of Ziraat Bank, Zorlu Holding, Coşkunöz Holding, Eczacıbaşı, Baikar, Dunyagöz, Kanymed Saglık, Bau Global and Havelsan.

"Attracting foreign investment, digital transformation, developing infrastructure, boosting exports and increasing competitiveness - these are the Uzbek aviation sector’s main goals, the Uzbek Transport Minister, Elyor Ganiev said in his remarks at the International Aviation Forum in Tashkent today. Highlights:

The Uzbekistan Minister of Investment and Foreign Trade, Sardor Umurzakov, today at the between Uzbek-Hungarian intergovernmental commission on trade, economic, scientific and technical cooperation, called on the Hungarian business to make use of the current investment opportunities in Uzbekistan.

Five local airlines could be set up in Uzbekistan, one of the items of the draft 2020 State Program stipulates. The Ministry of Transport, the Tourism Committee and a number of other departments were instructed to create five new airlines by April 1 of this year.

Long beholden to fossil fuels for all of their energy, the two most populous countries in Central Asia seem to finally be tapping into their abundant renewable resources.

The Ministry of Energy intends to engage the Saudi energy company ACWA Power for the construction of a 500 MW wind farm in the Navoi province, the ministry said in a statement.

President Shavkat Mirziyoyev, at the oil and gas sector meeting, instructed to increase the production of natural gas and liquid hydrocarbons this year, the presidential press service said.

The Central Bank presented latest data on Uzbekistan’s gold and foreign currency reserves, the Bank said in a report. As of January 1, 2020, the official reserves stood at US$ 29.1 billion. The international reserves - US$ 28.6 billion. Uzbekistan's reserves remain poorly diversified, with almost all of them shared between USD (US$ 12.4 billion) and gold (US$ 16.3 billion).

This year Uzbekistan will buy by 165% more agromachineries to the last year, the chairman of Uzagrotechsanoatholding, Nodir Otajonov said at the next session of the International Press Club in Tashken’st Congress Hall.