Friday, 22, November, 2024

Economy

The Government of Uzbekistan issued the Measures to Implement Modern Forms of Cotton and Textile Production Resolution.

Shavkat Mirziyoyev held a government meeting devoted to the results of geological exploration and production by UzbekNeftegaz. He underscored that the natural gas and oil production plan for 2017 was not fulfilled due to failure to achieve growth in reserves and that only 77% of planned drilling works were completed.

Recent statements by Uzbek officials have indicated a renewed interest in joining the World Trade Organization (WTO), the intergovernmental body responsible for regulating international trade and ensuring the smooth flow of trade across borders.

Big gas condensate reserves were discovered in the Lower Surgil of the Ustyurt plateau in Karakalpakstan, Uzbekneftegaz reported. The company said that Uzbekneftegazwidened the search areas for hydrocarbons in the bowels of the Ustyurt plateau.

Construction of new plant cement commenced in Namangan's Pap district. According to UzA, the foundation laying ceremony of the Uzbek-Chinese-UAE joint venture PopCement took place in Pap on Monday.

President Shavkat Mirziyoyev by the January 22 decree approved the Agreement between the Governments of Uzbekistan and Russia on cooperation in the field of using atomic energy for peaceful purposes.

Uzbekistan, Kyrgyzstan and China will hold a tripartite meeting on implementation of the Agreement on International Highway Service. According to the Uzbek Foreign Ministry, the meeting will be held in Tashkent on January 24-25. The agreement was signed between the governments of Uzbekistan, Kyrgyzstan and China on on 19 February 1998!

Delegations of the Ministry of Transport of China, the Ministry of Transport and Roads of the Kyrgyz Republic and the Uzbek Agency for Automobile and River Transport will attend the meeting.

Bilateral Uzbek-Kyrgyz and Uzbek-Chinese meetings on international highway service issues will be held on the eve of the meeting, the ministry added.

Delegation of Georgia Parliament of headed by the Chairman Irakli Kobakhidze arrived in Uzbekistan on Sunday on an official visit. Members of the Georgian delegation began their trip with a visit to the Investments Committee, Jahon reported.

President Shavkat Mirziyoyev arrived in Surkhandarya province to familiarize himself with the progress of social and economic reforms and the fulfillment of previously set tasks, the President’s press service reported.

Uzbekistan Railways has laid 29.6 km of the railway line between Urgench and Khiva, the company said. President Shavkat Mirziyoyev in January 2017 set out the task to boost the tourist potential of Khorezm province, pointing to the need to build Urgench to Khiva railway line and a modern rail station in Khiva city thus enabling electric trains movement, and in the future the movement of the Afrosiyob high-speed train.

President Shavkat Mirziyoyev yesterday signed Measures to Further Ensure Food Security in Uzbekistan Decree. The document notes "the existence of serious systemic problems that facilitate the preservation of unhealthy competition, monopolizing by some entities of imports, artificial deficit and facts of unjustified overpricing for some items, which resulted in super profits made on this basis.

On 13 January 2018, JICA Uzbekistan Office and Torishima Pump Mfg. Co. Ltd, as well as Ministry of Agriculture and Water Resources of Uzbekistan conducted handover ceremony of “Double Suction Centrifugal Pump, Torishima Model CDM” pump equipment at the division of pump stations, energy and communications under Chirchik-Ahangaran department of irrigation system (Soylik-1).

President Shavkat Mirziyoyev signed a decree approving the Construction of a Mining and Metallurgical Complex on the basis of the Tebinbulak deposit Project.

In 2017, Uzbekistan exported US$ 13.9 billion worth of goods and services, 5.4% increase compared to 2016, with US$ 945.5 million worth of trade surplus.

Uzbekistan and Tajikistan have reached agreements on visa relations and on the most controversial section of the state boundary - the Farhad Dam, a source in the government said.

Uzbekistan in 2017 reduced petroleum production by 6.3% down to 806 Mt, and increased natural gas production up to 56.417 Bcm, or a 0.5% increase compared to 2016, statistics committee said.

The size of Uzbekistan’s shadow economy is estimated at over 50% of GDP, the first deputy economy minister Mubin Mirzayev said at International Press Club meeting Thursday.

In Uzbekistan, the concepts: "consumer basket" and "minimum subsistence level", as well as the criteria for their measuring, may be introduced. This is proposed in the draft 2018 State Program which has been posted for public consultation. It is planned to implement the initiative before July 1.

Uzbekistan will purchase 5,778 units of agromachineries in the first half-year of 2018. President Shavkat Mirziyoyev on 4 January signed Additional Measures to Further Enhance Equipedness of Agriculture With Machineries Decree.

President Shavkat Mirziyoyev on Dec. 29, 2017 signed Forecast for main Macroeconomic Figures and Parameters of Uzbekistan’s Budget for 2018 Decree, which envisages cutting from 27 to 5%, or by 5.4 times the excise duty for GM Uzbekistan cars.