Sunday, 12, July, 2020

Economy

"Attracting foreign investment, digital transformation, developing infrastructure, boosting exports and increasing competitiveness - these are the Uzbek aviation sector’s main goals, the Uzbek Transport Minister, Elyor Ganiev said in his remarks at the International Aviation Forum in Tashkent today. Highlights:

The Uzbekistan Minister of Investment and Foreign Trade, Sardor Umurzakov, today at the between Uzbek-Hungarian intergovernmental commission on trade, economic, scientific and technical cooperation, called on the Hungarian business to make use of the current investment opportunities in Uzbekistan.

Five local airlines could be set up in Uzbekistan, one of the items of the draft 2020 State Program stipulates. The Ministry of Transport, the Tourism Committee and a number of other departments were instructed to create five new airlines by April 1 of this year.

Long beholden to fossil fuels for all of their energy, the two most populous countries in Central Asia seem to finally be tapping into their abundant renewable resources.

The Ministry of Energy intends to engage the Saudi energy company ACWA Power for the construction of a 500 MW wind farm in the Navoi province, the ministry said in a statement.

President Shavkat Mirziyoyev, at the oil and gas sector meeting, instructed to increase the production of natural gas and liquid hydrocarbons this year, the presidential press service said.

The Central Bank presented latest data on Uzbekistan’s gold and foreign currency reserves, the Bank said in a report. As of January 1, 2020, the official reserves stood at US$ 29.1 billion. The international reserves - US$ 28.6 billion. Uzbekistan's reserves remain poorly diversified, with almost all of them shared between USD (US$ 12.4 billion) and gold (US$ 16.3 billion).

This year Uzbekistan will buy by 165% more agromachineries to the last year, the chairman of Uzagrotechsanoatholding, Nodir Otajonov said at the next session of the International Press Club in Tashken’st Congress Hall.

The Ministry of Energy announced the launch of the first pilot project to build a photovoltaic plant in Surkhandarya’s Sherabad district with the support of the Asian Development Bank (ADB), the Ministry of Energy said in a statement.

The Russian Power Machines completed the modernization of two power units of the Syrdarya Thermal Power Plant, the largest TPP in Uzbekistan, having completed the phase I of its reconstruction, the Ministry of Energy said in a statement.