Wednesday, 24, April, 2024

Economy

The President signed the Measures to Expand Production of Potatoes and Further Development of Potato Seed Production in the Republic Decree.

Central Asian gas producers Turkmenistan, Kazakhstan and Uzbekistan are discussing a shared cut in gas supplies to China, as a result of the coronavirus pandemic's impact on demand, Uzbekneftegaz CEO Mekhriddin Abdullaev told S&P Global Platts Tuesday.

The government approved the Concept for Providing Uzbekistan with Electricity for 2020–2030, the Ministry of Energy said. The document was developed with the participation of international experts.

The countries of the Turkic Council are planning to step up the Trans-Caspian transport corridor during the coronavirus pandemic, the Foreign Ministry said in a statement.

Uzbekistan Railways has launched the regular movement of a high-speed freight train to the Hairaton station in Afghanistan, the company said. Part of the train is reportedly formed in Tashkent, and along the way it is supplemented by freight cars sent from provinces.

On April 24, Deputy PM/Minister of Investment and Foreign Trade Sardor Umurzakov, in a videoconference meeting with the Russian Deputy PM A. Overchuk and discussed the state and prospects of Uzbek-Russian cooperation in the trade, investment, industrial cooperation and logistics fields.

On 27 April 2020, the Uzbek Deputy PM/Minister of Investment and Foreign Trade Sardor Umurzakov held a video conference with the Italian Minister of Foreign Affairs and International Cooperation Luigi Di Maio and discussed a wide range of investment, trade, economic, financial and technical cooperation between the two countries, the Uzbek ministry said.

In January-March, Uzbekistan exported over $1 billion worth of gold, a 1.7% increase to the last year, the State Statistics Committee said. While, the gold’s share in exports standing at 29.8%.

On April 21, the Uzbek Minister of Investments and Foreign Trade, Sardor Umurzakov held a teleconference with the Minister of Railways and Commerce of India, Piyush Goyal.

The construction of a new hydroelectric power station in the Sardoba reservoir has commenced in Uzbekistan. The 21.3 million-euro project is scheduled for 2020-2022 and will be financed through the direct loans from RosEximBank (Russia).

In January-March, Uzbekistan’s foreign trade in goods reached US$ 8.14 billion, which by US$ 924.1 million (10.2%) lower compared to the same period in 2019, the State Statistics Committee said in a report.

President Shavkat Mirziyoyev, through video conferencing, launched the construction of the Tashkent Pharma Park Innovative Scientific and Production Pharmaceutical Cluster in the Zangiata district of Tashkent province on Friday.

Shavkat Mirziyoyev chaired a video-conference government meeting on Thursday on the chemical, agricultural and automotive industries, the presidential press service said.

The Ministry of Energy has announced a call for bids for a 100 MW wind farm in the Karauzyak district of Karakalpakstan.

On April 8, a videoconference was held with the top executives of 30 major German companies and banks - ThyssenKrupp, Metro, MAN, Takraf, Klaas, Papenburg, Falk Porsche Technik, Knauf, Deutsche Bank, Commerzbank, Landesbank and others.

Retail prices for AI-80 gasoline and diesel fuel (including ECO grade) is to be deregulated starting from May 1. This is provided for by the April 4 Cabinet’s resolution, the Ministry of Justice said.

The first of two combined-cycle plants with a capacity of 280 MW was commissioned at the Takhiatash Thermal Power Plant (TPP) on Friday, the Ministry of Energy said.

Uzbekistan has climbed 26 places in the latest Economic Freedom Index to 114th among 182 countries with freedom score at 57.2 Uzbekistan’s economic freedom score is 57.2, making its economy the 114th freest in the 2020 Index. Its overall score has increased by 3.9 points due to higher scores for investment freedom, financial freedom, and property rights. Uzbekistan is ranked 26th among 42 countries in the Asia–Pacific region, and its overall score is well below the regional and world averages.

The next meeting of the Intergovernmental Commission on Trade and Economic Cooperation between Uzbekistan and Tajikistan, co-chaired by the prime ministers of the two countries, Abdulla Aripov and Kohir Rasulzoda, will be held in the second half of April in Guliston, Tajikistan.

Deep processing of natural gas is much more profitable for Uzbekistan than its exporting, the chairman of Uztransgaz, Ulugbek Sayidov told Gazeta.uz in an interview.