Friday, 04, December, 2020

Economy

At the Ministry of Investment and Foreign Trade were held talks with the Turkish energy company Cengiz Enerji, during which topical aspects for implementation of the 240 MW thermal power plant construction project in Tashkent province were discussed, the ministry said.

Jizzakh Auto (Volkswagen Uzbekistan) will bring Škoda to the Uzbek market from the VAG line. The first model in the lineup will be the Škoda Kodiaq crossover2021, the flagship of the crossover line.

The Cabinet of Ministers issued a Resolution outlining the measures for the implementation of the construction project of the third 650 MW combined cycle plant at the Navoi thermal power plant, Norma said.

The recovery of the Uzbek economy is expected to be gradual as the lockdown shock fades away, the Central Bank said. However, the return to the pre-crisis figures will take some time due to the relatively low growth in the households’ incomes, and due to the more cautious behavior of economic agents when making decisions.

Roodell has announced plans to launch assembly of KIA Seltos and K5 - at the ADM-Jizzakh plant in the Jizzakh free economic zone, the company said in a statement.

Uzbekistan’s shadow economy reaches 48% of GDP (245 trillion soums, or US$ 24 billion), the State Tax Committee (STC) said in a report.

With over 34 million citizens – the largest population in Central Asia, rich reserves of natural resources, and relatively well-developed infrastructure, Uzbekistan has the potential to become one of the strongest economies in the post-Soviet area.

On September 8, the Deputy PM Sardor Umurzakov, had a videoconference with the First Deputy PM/Minister of International Trade and Industry of Malaysia, Mohamed Azmin Ali.

The Ministry of Trade and Integration of Kazakhstan told details about the construction of the Kazakh-Uzbek analogue of the Khorgos International Center for Trade and Economic Cooperation (ICTEC), LS reported.

An Uzbek-Turkish technopark will be set up in the Olmazor district of Tashkent city, the Ministry of Innovative Development of Uzbekistan said.