Friday, 22, November, 2024

Economy

Almalyk Mining and Metallurgical Complex (AMMC) plans to build a new copper processing plant, the plant said. The TOMS Research and Design Institute (Russia) will develop a project for the new factory, which is scheduled to be commissioned before 2022.

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).

2.3 million tons of cotton were harvested in Uzbekistan in 2018, Shavkat Mirziyoyev noted in his congratulatory message to agricultural workers.

Kyrgyzstan delegation led by Minister of Economy Oleg Pankratov paid a working visit to Tashkent between November 28 - December 1, the Uzbek Ministry of Foreign Trade reported.

The Ukraine’s Interdepartmental International Trade Commission (IITC) at its Monday meeting decided to stop the anti-subsidiary investigation regarding the import of new passenger cars originating from Uzbekistan, the Ministry of Economic Development and Trade of Ukraine (MEDT) reported.

Draft Uzbekistan’s Hydropower Industry Development Concept for 2020-2024 has been published for public consultation.

The Government of Uzbekistan announced the agenda for the next phase of its bold and ambitious reforms. The Reform Roadmap, revealed today, outlines the Government’s economic reform priorities over the next three years (2019-2021).

President Shavkat Mirziyoyev signed a decree Thursday stimulating the export potential of domestic manufacturers. According to the document, as of January 1, legal entities who export over 15% of the total revenue from the sale of goods (works, services), including via an agent (confidant), shall see their taxable base for corporate income tax reduced by the amount of revenue made from exports of goods (works, services), as well as the single tax payment by the amount of export of goods (works, services).

The natural gas production volume in Uzbekistan is expected to surpass 61 billion cubic meters (BCM) by the year-end, a 5.2 BCM increase to 2017, according to Uzbekneftegaz.

President Shavkat Mirziyoyev signed the Measures to Fundamentally Improve Uzbekistan’s Civil Aviation Decree, Uzbekistan Airways said.

The delegation of the UzAtom Agency visited Budapest on November 11-13 and Moscow on November 14-15, the agency said.