Thursday, 20, June, 2019

Economy

On April 4, 2019, a Memorandum of Cooperation was signed between the International Aerospace Committee (IAC) and the Uzbek Digital Trust Fund, which envisages extending cooperation, as well as information sharing, the National Project Management Agency said.

Uzbekistan will help Afghanistan for its textile industry recovery. This is provided for in the memorandum of cooperation on rehabilitation of the Afghan textile industry in, which was signed recently in Kabul, Uztekstilsanoat said in a statement.

Economic growth in the Europe and Central Asia region slowed to 3.1% in 2018, and is projected to decline to 2.1% in 2019, amid slowing global growth and uncertain prospects, according to the World Bank’s Economic Update for Europe and Central Asia, released today.

Uzbekistan plans to sell controlling stakes in six enterprises that are part of the Uzkimyosanoat (transl. Uz Chemical Industry) JSC to investors, including foreign ones. This is stated in the April 3 presidential decree.

The meeting of the Uzbek-Tajik Intergovernmental Commission for Trade and Economic Cooperation was held in the city of Termez, which chaired by the Prime Ministers of Uzbekistan Abdulla Aripov and Tajikistan Kohir Rasulzoda.

Tax collections in Q1 2019 topped 18.4 trillion soums, which is by 1.7 times more than in 2018, the Tax Committee said in a statement.

The US$ 553 million Bukhara refinery modernization project will be launched in 2020, Uzbekistan 24 reported. After project completion, the refinery will have the capacity to process an annual 2.5 million tons of oil and gas condensate, thereby producing 1.2 million tons of Euro 5 standard gasoline, 200 thousand tons of aviation kerosene, 750 thousand tons of diesel fuel and 30 thousand tons fuel oil.

Uzbekistan plans to export 80 tons of gold in 2019, the Central Bank said in a statement. Uzbekistan reprotedly exported 70 tons of gold in 2018, while 80 tons a year earlier.

Power outages cost Uzbekistan economy US$ 6 billion annually, the Deputy Minister of Energy Sherzod Hujaev said at a briefing with reference to the Asian Development Bank.

Epsilon Development has increased natural gas production and is about to expand the gas pipeline infrastructure in Uzbekistan.