Monday, 21, September, 2020

Economy

The governments of Uzbekistan and Russia have agreed on a joint “road map” for deepening industrial cooperation between the two countries, the Uzbek Ministry of Investment and Foreign Trade (MIFT) said.

117,925 passenger cars were manufactured in Uzbekistan in January-May 2020, which is by 19,145 more compared to the last year, the State Statistics Committee said in a report.

In 2020, the capacity of textile enterprises in Uzbekistan will allow to process the entire cotton crop. “In the first half of 2020, the capacity will be raised up to 1,030,000 tons, which will allow processing 100% of the cotton fiber grown in the country,” Uztekstilprom said.

Combined start-up of the second 280 MW combined-cycle plant (CCGT) was carried out at the Takhiatash Thermal Power Plant (TPP) on Wednesday the Ministry of Energy said.

Uzbekistan filed an official application for the beneficiary status of the European Union’s General System of Preferences Plus (GSP +), the Ministry of Investment and Foreign Trade (MIFT) said.

Uzbekgeofizika and Rosgeology signed a geological services agreement to identify hydrocarbon potential in Uzbekistan Tuesday, according to the Russian holding.

The chief of the car factory in the Navoi Free Economic Zone spoke about the provisional prices for cars that will be manufactured in the province.

Masdar, a UAE based renewable energy company, will build 500 MW capacity wind power plant in the Navoi province. The signing ceremony of the investment agreement between the UAE company and the Ministry of Investment and Foreign Trade took place on June 8. According to the document, Masdar will design, finance, build and operate the wind farm.

Recent developments: The COVID-19 pandemic has adversely affected Europe and Central Asia through the collapse in global commodity prices, disruptions to global and regional supply chains, and heightened risk aversion in financial markets. The widening of domestic outbreaks of the virus has steepened the decline in domestic demand, exacerbated supply disruptions, and brought much activity to a halt.

In Uzbekistan, production of Volkswagen Caddy light commercial vehicles begins at Jizzakh factory which was built for Peugeot-Citroen plant project which was reported abandoned due to differences.