Friday, 26, April, 2024

Economy

Khorazm-Shakar and Angren-Shakar sugar factories ceased operations. The representatives of the industry note that the halt in production was preceded by a drop in demand for sugar products of the two factories.

Uzbekistan is included in the UNIDO Competitive Industrial Performance  (СIP) Index for the first time, the Ministry of Finance said. Uzbekistan ranked 92nd in the updated Index. The CIP Index evaluates and compares industrial competitiveness indicators of 152 countries.

President Shavkat Mirziyoyev today chaired a government meeting, at which were discussed measures to ease doing business in provinces and ensure budget revenues.

President Shavkat Mirziyoyev signed the Additional measures to further develop the competition environment and reduce state participation in the economy decree, which in particular, approved the Competition Development Strategy and Roadmap for its implementation until 2024 inclusive, Uzbekistan 24 reported.

On July 6, Chairman of Uzbekneftegaz Mehriddin Abdullaev and President of South Korean company SK Engineering & Construction Jason Ann signed the engineering services agreement, providing for the development of a Front End Engineering Design (FEED) to modernize the Bukhara oil refinery.

President Shavkat Mirziyoyev signed the Measures to Implement Volkswagen Light Commercial Vehicles Production Project in the Republic of Uzbekistan Decree.

Ministry of Energy of Uzbekistan and Altmax Holding Ltd. belonging to the Russian billionaire Andrei Filatov signed a memorandum for building of a US$1.8 billion 1.5 thousand MW gas-fired thermal power plant, TASS said.

The preparation and signing of the intergovernmental free trade agreement (FTA) between Uzbekistan and South Korea were discussed during the negotiations in a video conferencing between the officials of the two countries.

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.

Turkish Aksa Energy is investing in the 240 MW combined cycle gas power plant project in Tashkent. The project is to be implemented based on the agreement with the Ministry of Energy of Uzbekistan, Dunyo reported.

A meeting of the Ministry of Energy and Uzbekneftegaz JSC took place at the construction site of the GTL plant in Kashkadarya province under the chairmanship of the Minister Alisher Sultanov.