Monday, 22, April, 2019

Economy

The Government of Uzbekistan has approved the main technical and economic parameters of the feasibility study of the Modernization of the Foundry Capacities through Construction of a new foundry at JSC UzbekKimyoMash Plant Project.

Shavkat Mirziyoyev signed the Macroeconomic Figures and Parameters of the State Budget for 2019 and Budget Guidelines for 2020–2021 Decree scrapping the tax waivers provided for General Motors Uzbekistan, SamAuto and JV MAN Auto-Uzbekistan, save for the value added tax (VAT).

Uzbekistan intends to change the structure of textile production and increase exports up to US$ 7 billion by 2025, UzTextil Sanoat (transl. UzTextileIndustry) Association said.

The Cabinet of Ministers issued resolution ordering the hand-over of the Uzbekistan Railways’ stake in UzbeKo’mir (transl. UzbekCoal) state-owned company in the amount of 45% to Progress Gor Tech, a Russian company for trust management, the Uzbek Ministry of Justice said.

The Peugeot Citroen car plant in Jizzakh province is not included in the list of facilities which will be commissioned in 2019, the President’s Measures to Implement Uzbekistan’s Investment Program for 2019 Decree said.

Kazakhstani producers said that it is impossible to compete with Uzbek manufacturers due to unequitable conditions and high utility prices, abctv.kz said.

The final minutes and roadmap on trade, economic and investment cooperation was signed following the second meeting of the Council of Heads of Border Provinces of Uzbekistan and the Kyrgyz Republic.

Uzautosanoat and the French PSA Groupe will review the concept of the car plant project in the Jizzakh province and optimize economic parameters, the Uzautosanoat said in a statement.

The State-Owned Assets Management Center under the Competition Committee has entered into a trust management agreement with a subsidiary of United Investment Healthcare Group (USA).

The Government has approved the feasibility study for the propane-butane mixtures production units modernization project at the Mubarek Gas Processing Plant (MGPP).