Friday, 19, April, 2024

Economy

Acwa Power (Saudi Arabia) has installed 10 meteorological masts out of 18 planned to study wind potential research in Peshku and Gijduvan districts of Bukhara province, where the company will build wind power plants (WPPs) with a total capacity of 1000 MW, the press service of the Ministry of Energy said.

At the invitation of the Namangan province governor Khairullo Bozarov, a delegation headed by First Deputy Chairman of the Korean-Uzbek Business Association under the Ministry of Trade, Industry and Energy of the Republic of Korea Kim Chang Keon visited the province to discuss stepping up the implementation of joint projects, Dunyo news agency reported.

The Tajik capital Dushanbe will host a major Uzbek-Tajik business forum which is expected to be attended by Prime Ministers of Uzbekistan Abdulla Aripov and Tajikistan Kokhir Rasulzoda.

More than 200 representatives of the business community of Uzbekistan and Tajikistan are expected to attend the business forum, which will take place in Dushanbe on September 29, Asia-Plus said.

Uzbekistan and Tajikistan businesses will discuss the implementation of joint projects in the fields of industry, trade and tourism.

Last year, 16 documents were signed at the Tajik-Uzbek business forum in Dushanbe, during which multimillion-dollar deals on the export and import of goods and services were inked.

The forum will be held at the Hyatt Regency Dushanbe.

Note: The next meeting of the joint intergovernmental commission of Tajikistan and Uzbekistan on trade, economic, socio-cultural cooperation is also scheduled in Dushanbe on September 28-29.

According to the Tajik Agency of Statistics, over the past five years, Uzbek-Tajik trade figure has grown by almost 3.6 times: from US$ 13 million in 2014 to US$ 362 million in 2019.

However, the coronavirus pandemic has caused a decrease in trade between the two states.

The trade between Uzbekistan and Tajikistan decreased by 11.3% in January-July this year to 2019. The volume of two-way trade YTD has reached US$ 148.4 million.

Uzbekistan exports to Tajikistan natural gas, textile products, mineral fertilizers, plastic, footwear, ceramics, non-ferrous metals, electrical and mechanical equipment and imports primary aluminum, electricity, cotton fiber, ore, cement, raw leather, cocoon, raw silk, various fabrics, alcoholic beverages, carpets and so on.

Uzbekistan's trade in goods in January-August reached US$ 24.5 billion, a 12.7% decrease, or US$ 3.5 billion, compared to the same period last year, the State Statistics Committee said in a report.

Masdar Energy (UAE) has installed four meteorological poles to study wind potential in Tomdi district of Navoi province, the Uzbek Ministry of Energy.

The Uzbekistan Deputy PM Sardor Umurzakov yesterday hosted the Russian Deputy PM Alexei Overchuk at the Ministry of Investments and Foreign Trade.

The Cabinet of Ministers issued the Measures to Improve Activities of Termez Free Economic Zone Resolution creating Termez free economic zone.

The models of cars produced in Uzbekistan are set to be renewed every 5 years. This is provided for by Practical action plan for 2020-2021 to revive economic growth and continue structural changes in Uzbekistan.

Economic growth in Uzbekistan is projected to further decelerate this year as a result of the coronavirus disease (COVID-19) pandemic, weak demand, slowing industrial output, and a decline in services, according to a new report released by the Asian Development Bank (ADB).

Enter Engineering has prepared a schedule for hiring new workers from Uzbekistan’s provinces for the Uzbekistan GTL plant project in Guzar district of the Kashkadarya province. Due to the coronavirus pandemic, the site was practically empty in summer, and many foreign specialists were forced to leave home. Timur Abdullayev, Administrative Director of Enter Engineering, told Kun.uz how the company intends to cope with the pandemic.

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.