Monday, 22, April, 2019

Economy

The Organization for Economic Cooperation and Development (OECD) has improved Uzbekistan's credit risk rating, moving the country from point 6 to point 5, the Uzbek finance ministry said Saturday.

Uzbekistan is ready to work on the implementation of the Kambar-Ata-1 HPP construction project, the Uzbek Ambassador to Kyrgyzstan Komil Rashidov said at a briefing on Tuesday.

The German Graess Energy has begun construction of a solar power plant in Muinak, Karakalpakstan, a source at Uzbekenergo told Tashkent Times.

The unemployment rate in Uzbekistan topped 9.3% in 2018, the Employment Ministry said based on sociological survey conducted in 66 cities and townships.

Dubai-based flydubai airline will operate five flights per week between Dubai and Tashkent starting 11 March 2019 from Terminal 3, Dubai International Airport.

Uzbekistan has climbed in the latest Economic Freedom Index to 140th place among 182 countries with freedom score at 53.3. Its overall score has increased by 1.8 points, led by robustly higher scores for investment freedom, labor freedom, and business freedom. Uzbekistan is ranked 36th among 43 countries in the Asia–Pacific region, and its overall score is below the regional and world averages. In 2017 Uzbekistan ranked 152th, while in 2016 was the 166th freest.

Uzbekistan Airways posted the annual report on the occasion of the 27th anniversary of the airline. The airline told that three new routes were opened to Mumbai, Vladivostok and Jeddah in the last three months, adding that flights to Tbilisi, Munich and Karachi are planned to be launched in 2019.

In 2018, the share of cotton fiber in total exports (1.6%) decreased considerably compared to the last year, the Statistics Committee said in a report.

Uzbekistan sold US$ 2.9 billion worth of gold, the Statistics Committee said in a report. In general, in 2018, Uzbekistan total exports in 2018 amounted to US$ 14,257.9 million (an increase by 13.6% to the last year).

Ahead of the official visit to Germany of the President of Uzbekistan Shavkat Mirziyoyev, Uzbek companies signed a number of strategic partnership agreements with Siemens for implementing energy and industry projects. In particular: