Friday, 18, January, 2019

Economy

President Shavkat Mirziyoyev signed the Establishing an Enterprise With Foreign Investment - Uzbekistan Peugeot Citroën Automotive (UzPCA LLC) Decree.

The governments of Uzbekistan and Afghanistan are readying an agreement on trade and cooperation in transit of goods, which is expected to increase the two-way trade turnover, the Minister of Foreign Trade of Uzbekistan Elyor Ganiev said.

Uzbekistan has the second-fastest-growing economy, with projected growth of 7.6% in 2017 according to the World Bank’s latest edition of Global Economic Prospects.

President Shavkat Mirziyoyev familiarized himself with the light industry projects implemented in Boz district. Today in Andijan province there are 20 large light industry enterprises. In the province, 82 percent of cotton fiber is processed locally.

JV New Silk Road Oil And Gas set up by UzbekNeftGaz (UNG) and Chinese CNODC (a subsidiary of CNPC) commenced the develoment of gas condensate fields in Bukhara province.

President of Uzbekistan on May 26, 2017 issued the On Measures to Improve Price Formation For Products Manufactured by GM Uzbekistan Decree which provides for that from June 1, 2017 in local market GM Uzbekistan will sell its cars only for the national currency - UZS.

The first meeting in 10 years of the Uzbekistan–Turkey Economic Commission was attended by Deputy Prime Minister of Uzbekistan Rustam Azimov, Foreign Trade Minister Elyar Ganiyev, Chairman of the Tourism Development Committee Anvar Sharapov and Turkish Deputy Prime Minister Tuğrul Türkeş, Minister of Economy Nihat Zeybekci, Minister of Culture and Tourism Nabi Avci and other officials.

UzbekNeftGaz and TurkmenNebit signed a memorandum of understanding. Following the talks between the Presidents of Uzbekistan and Turkmenistan at the Avaza congress center in Turkmenbashi city on Saturday.

On May 24-26, 2017, Turkish Minister of Economy Nihat Zeybekci is set to visit Uzbekistan to attend Uzbekistan-Turkey Economic Council meeting.

By 2021 UzbekNefteGaz  plans to increase its downstream refining and petrochemicals capacity through 78 projects worth $ 30.4 billion, it was announced at the Global Oil & Gas Uzbekistan 2017 international exhibition, which opened on Wednesday in Tashkent.