Saturday, 23, November, 2024

Economy

Uzbekistan has successfully implemented a first wave of significant economic reforms. Initiated by President Mirziyoyev in 2016, the reforms aim to revive an economy that was hobbled by distorting policies, including foreign exchange and trade restrictions, a punishing tax burden, and directed credit. Flagship reforms implemented so far include foreign exchange liberalization, tax reform, and a major upgrade in the quality and availability of economic statistics. Uzbekistan has also taken the lead on regional cooperation, key for promoting regional trade and reconnecting the region’s energy and transportation networks.

Uzbek Foreign Minister Abdulaziz Kamilov held talks with the State Minister for Foreign Affairs of Qatar, Mr. Soltan bin Saad Al-Muraikhi, the Uzbek Foreign Ministry said.

The 9th meeting of the Uzbek-Korean Trade and Economic Cooperation Committee was held on Monday at Tashkent’s International Business Center, which was attended by the Uzbekistan Deputy PM E. Ganiev, Uzbek Minister of Investments and Foreign Trade S. Umurzakov and Minister of Trade, Industry and Energy of the Republic of Korea Mr. Sung Yoon-mo. The meeting was co-organized by the Uzbek Ministries of Investments, Foreign Affairs and the embassies of the two countries.

The 24th session of the Uzbek-British Council on Trade and Industry (UBSTP) is being held these days in Tashkent. attending by over 110 business executives representing more than 60 British companies, the record number in the history of UBSTP.

Today Shavkat Mirziyoyev, as part of his Namangan province trip, familiarized himself with the construction progress at the Turakurgan Thermal Power Plant.

The Ministry of Energy of Uzbekistan and the United States Agency for International Development (USAID) yesterday signed a Memorandum of Understanding (MoU) in Tashkent.

24th Session of the Uzbek-British Trade and Industry Council (UBTIC), co-chaired by the Uzbek Deputy PM Elyor Ganiyev and Baroness Emma Nicholson of Winterbourne, will be held on February 26-March 1 in Tashkent.

On February 18-20, a delegation of the Uzbek Ministry of Investments and Foreign Trade, headed by S. Umurzakov, visited Munich on a working visit and met with the Adviser to the Minister-President of Bavaria/Head of Europe, International Relations, Mass Media Department of the State Chancellery Dr. Thomas Gruber for the implementation of the road map of the visit of the President of Uzbekistan to Germany.

Uzbekistan and Tatarstan plan to sign a new Cooperation Agreement. This became known after the talks of First Deputy Prime Minister/Minister of Transport of Uzbekistan Ochilboy Ramatov with the President of Tatarstan Rustam Minnikhanov.

Uzkimyosanoat (Uz Chemical Industry) and Samsung Engineering will build a US$ 600 million urea and ammonia production plant in Uzbekistan, the presidential press service said.

Tashkent city mayor's office has plans to contribute US$ 2.7 billion for the 2019 investment program, the deputy mayor Sharof Rakhmanov announced at a press briefing.

President Shavkat Mirziyoyev today began a trip to the Syrdarya province, the presidential press service said. The trip began with the visit to Sirdaryo Universal Oyna enterprise in Syrdarya district and familirizing with the process of manufacturing of pharmaceutical and food glass containers.

Uzbekenergo and Russian Power Machines are working on a phased modernization of power units at the Syrdarya thermal power plant, Uzbekenergo said.

The Uzbekistan Committee on Geology and Mineral Resources (GeoComm) and the Turkey’s Geological Authority (MTA), signed the agreement on geological exploration for gold and tungsten in three sites, the Committee said.

The Deputy Investments Minister Badriddin Abidov met with the Georgian Deputy Foreign Minister Alexander Khvtisiashvili Monday as part of the 11th round of political consultations between the foreign ministries of the two countries .

Investors from the UAE proposed to open a casino in Muynak, Karakalpakstan. The Uzbek Prosecutor General Office confirmed it is closely considering the issue along with other relevant bodies, a government source told The Tashkent Times.

GM Uzbekistan plant in Andijan will change its name, the acting deputy chairman of the Uzavtosanoat responsible for technical policies and localization Azizbek Shukurov said. 

The Chinese Huaxin Cement will build a new cement plant in Zafarabad district, Jizzakh province, a government resolution said.

By the presidential decree, a number of oil & gas, energy sector bodies have been handed over from the Cabinet of Ministers to the Ministry of Energy .

Novovoronezh NPP In Russia, will be prototype of the first nuclear power plant in Uzbekistan. A group of Uzbek journalists visited Novovoronezh NPP to familiarize themselves with the nuclear plant, with the visit co-organized by the Rosatom Corporation and Uzatom Agency.