Saturday, 23, November, 2024

Economy

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.

The President Shavkat Mirziyoyev signed the Measures to organize construction of a new 1,500 MW capacity thermal power plant in Syrdarya province Decree.

Lockdown measures have led to a decline in economic activity and, as a result, to a decrease in revenues to the treasury. Such a conclusion can be drawn from the commentary on the budget revenues, published by the Ministry of Finance.

The Uzbekistan unemployment rate in June topped 13.2%, a 4.1 pp increase to the last year, the Ministry of Employment and Labor Relations reported.

During the visit of the Uzbek government delegation to Turkey on July 28, the Deputy Prime Minister/ Minister of Investment and Foreign Trade Sardor Umurzakov met with the Turkish Minister of Trade Ruhsar Pekcan, the Uzbek Ministry of Investment and Foreign Trade said.

The first Volkswagen dealership was inaugurated in Uzbekistan with sales of VW Caddy light commercial vehicle launched. The chairman of Uzavtosanoat, Shavkat Umurzakov in his inauguration remarks said that the project was born during the visit of the President of Uzbekistan to Germany in January 2019. After that, a cooperation agreement was signed between Uzavtosanoat and Volkswagen. He recalled that at the first stage of the project, it was decided to produce a seven-seater minivan Caddy.

On July 22, a video conference was held with the participation of officials of Uzbekistan, Afghanistan and Iran on boosting ties in the field of transport, implementation of promising projects, the Ministry of Transport of Uzbekistan said in a statement.

Online talks between the Deputy Prime Minister Sardor Umurzakov and the World Bank Vice President for Europe and Central Asia Anna Bjerde were held on July 23, the Ministry for Foreign Trade and Investments said.

The interagency commission collaborating with the World Trade Organization and the working group on Uzbekistan’s accession to the WTO held an online meeting Tuesday. 

Uzbekistan’s gold exports in six months of 2020 topped US$ 2.1 billion, the State Statistics Committee said in a report. During the reporting period, the share of gold in total exports reached 33.8%. Last year, the figure stood at 19.5%

The Uzbekistan international trade in six months of 2020 decreased by 18.2% to the last year, the State Statistics Committee said in a report.