Tuesday, 23, April, 2024

Economy

Uzbekistan’s textile and ready-made garment exports to the EU countries will grow to US$ 1.2 billion due to the country becoming the beneficiary of the preferences within GSP+, the UzTekstilSanoat association said.

President Shavkat Mirziyoyev will today attend the opening ceremony of the Tashkent Metallurgical Plant in Tashkent’s newly formed Yangikhayot district, the presidential press service said.

Thermal power plants account for 86% of electricity generated in Uzbekistan, while the demand for electricity in the country to double by 2030, Muhammadjon Bekmuhammedov, the spokesman to Thermal Power Plants JSC said speaking about the measures take to increase production.

Cement production at Kuvasaycement and Akhangarancement has been suspended due to lack of gas, the Antimonopoly Committee said in a statement.

The Ministry of Finance proposed to introduce an excise tax of 20% on the imported sugar as of January 1, 2021 in the amendments to the tax policies for 2021" (PDF).

On November 25, President Shavkat Mirziyoyev chaired a meeting to discuss promising projects in the petrochemical industry, the presidential press service said.

VEB.RF, in a consortium with Russian partner banks, is ready to work out the financing of the phase II of the program to increase hydrocarbon production being implemented in Uzbekistan. The total volume of loans planned to be received is US$ 650 million, the corporation said.

The Accounts Chamber published the 2021 State Budget of Uzbekistan Bill and its own conclusion. It was noted that the documents for making the conclusion were submitted to the Chamber on a later than the scheduled deadline (on October 28, not on September 20).

238,868 passenger cars were produced in Uzbekistan in January-October 2020, which is by 19 956 more compared to the last year, the State Statistics Committee in a report.

The ceremony of launching the eTIR pilot project between Uzbekistan and Kazakhstan within the framework of the Turkic Council took place in Uzbekistan on 17 November 2020 with the partnership of Customs Authorities of both countries and the International Road Transport Union (IRU).

In 9 months of 2020, Uzbekistan’s GDP grew by 0.4% to the last year (5.9% in the first 9 months of 2019), the State Statistics Committee said.

In 2020, Uzbekistan purchased 5 BCM of gas from Lukoil at a negotiated price, the Deputy Energy Minister Bekhzot Normatov announced at a press briefing on Friday.

The value of Uzbekistan’s gross foreign exchange and gold reserves as of October 1 topped US$ 33.4 billion, decreasing by US$ 1.15 billion to the last month, the Central Bank said in a report.

Cement prices at exchange trades slightly increased due to the failure of furnaces at Akhangarancement and Jizzakh cement plant, the Antimonopoly Committee said.

The Russian GAZ Group’s commercial vehicles will be assembled in Uzbekistan. This became known during the 21st meeting of the Intergovernmental Commission on Economic Cooperation between Uzbekistan and Russia in Bukhara.

The Tashkent-based enterprise MS RemTex, which is part of the State Defense Industry, plans to organize the assembly of Russian Ural trucks.

On October 12, Bukhara hosted the twenty-first meeting of the Uzbek-Russian Intergovernmental Commission (IGC) on economic cooperation, the Ministry of Investment and Foreign Trade.

On October 12, Bukhara will host a meeting of the intergovernmental commission on economic cooperation between Uzbekistan and Russia, the Russian Ministry of Economic Development said.

In 8 months of 2020, Uzbekistan exported US$ 11.5 million worth of drugs to 11 countries, which is by four times to the last year, the Statistics Committee said in a report.

In 7 months of 2020, Uzbekistan reduced the delivery of fruits and vegetables to China by 44% to US$19 million, EastFruit reported.