Friday, 22, November, 2024
Friday, 22, November, 2024
Growth is expected to slow to 5.3 percent in 2022. Increased logistical challenges linked to sanctions on Russia are expected to dent private consumption growth. Private investment and exports are expected to grow strongly, and the current account balance improve, as Uzbekistan benefits from strong global commodity prices (gold, copper, natural gas) and increasing remittances.
Remittances are a very important source of financing in the countries of Central Asia. Kyrgyzstan, Tajikistan and Uzbekistan are among the largest recipients of remittances from Russia, making them particularly sensitive to changes in the Russian economy.
Senior executives of Uzbekneftgaz hosted the World Bank’s energy business mission to Uzbekistan. During the meeting, the parties discussed Road Map on reform Uzbekistan gas sector and low-carbon hydrogen production development.
The economies of Central Asia are showing strong resilience to the geopolitical adversities caused by Russia’s war on Ukraine, the European Bank for Reconstruction and Development (EBRD) reports in its latest Regional Economic Prospects today.
Deputy PM/Minister of Investments and Foreign Trade Jamshid Khojaev with business leaders providing services in the field of transport and logistics.
In the first year-half, tax revenues amounted to 18.6 trillion soums and remained at the level of last year. This is mainly due to the reduction of the increased tax rate for gold and copper miners.
On September 5, President Shavkat Mirziyoyev chaired a government meeting via conference call. During the meeting, he noted that Andijan, Bukhara and Khorezm provinces, thanks to the efficient use of land, managed to increase exports by 1.5 times. As a result of the reforms carried, the degree of provision with poultry products, fish, and rice has significantly improved.
The State Statistics Committee provided data on products with the highest share in food imports. Information is provided on the price of certain types of food products imported into Uzbekistan in January-July 2022.
The Ministries of Energy of Uzbekistan and Azerbaijan on August 29 signed a road map to expand cooperation in the field of energy, the press service of the Ministry of Energy said.
Port of Riga will be expanding cooperation with Uzbekistan Railways. The parties will work on expanding transit to and from Uzbekistan through Latvia. Uzbekistan Railways signed a memorandum of cooperation with Riga Free Port, the industry portal PortNews said.
The value added tax (VAT) rate will be cut from 15 to 12 percent in Uzbekistan from January 1, 2023. This was announced by President Shavkat Mirziyoyev today during an open dialogue with business leaders.
The State Assets Management Agency has announced a selection of consulting companies to develop privatization strategies of Uzbekistan Airways and Thermal Power Plants.
The top 10 countries in Uzbekistan's exports have been announced by the State Statistics Committee. Reportedly, Russia is the top trade partner with the highest share of Uzbekistan's exports in January-July 2022, US$ 1.5 billion.
The Ministry of Transport has agreed with colleagues from Iran and Turkmenistan to simplify the international freight transportation, the Ministry said on Wednesday.
In January-July 2022, Uzbekistan's international trade topped US$ 28.1 billion, recording an increase of US$ 6.3 billion compared to the same period last year, the State Statistics Committee said in a report.
The level of diversification of Uzbekistan’s industrial exports was assessed by experts from the Institute for Forecasting and Macroeconomic Research.
The Uzbekistan unemployment rate in January-June 2022 was at 8.8%, a decrease by 0.9% compared to the same period last year.
In the first half of 2022, Tajikistan exported more than 6.6 thousand tons of cotton to Uzbekistan worth over US$17.3 million. According to Asia-Plus, citing the Customs Service of Tajikistan, this is almost 3.3 times higher than in the same period in 2021 ($5.3 million).
Deputy Prime Minister/Minister of Investments and Foreign Trade Jamshid Khojaev met with Turkish Minister of Trade Mehmet Muş, Dunyo reported.
Uzbekistan and Azerbaijan are to set up a $500 million investment fund for joint projects. This was discussed on August 1 at a meeting of the joint intergovernmental commission.