Thursday, 20, June, 2019

Economy

Uzbekistan has climbed in the latest Economic Freedom Index to 140th place among 182 countries with freedom score at 53.3. Its overall score has increased by 1.8 points, led by robustly higher scores for investment freedom, labor freedom, and business freedom. Uzbekistan is ranked 36th among 43 countries in the Asia–Pacific region, and its overall score is below the regional and world averages. In 2017 Uzbekistan ranked 152th, while in 2016 was the 166th freest.

Uzbekistan Airways posted the annual report on the occasion of the 27th anniversary of the airline. The airline told that three new routes were opened to Mumbai, Vladivostok and Jeddah in the last three months, adding that flights to Tbilisi, Munich and Karachi are planned to be launched in 2019.

In 2018, the share of cotton fiber in total exports (1.6%) decreased considerably compared to the last year, the Statistics Committee said in a report.

Uzbekistan sold US$ 2.9 billion worth of gold, the Statistics Committee said in a report. In general, in 2018, Uzbekistan total exports in 2018 amounted to US$ 14,257.9 million (an increase by 13.6% to the last year).

Ahead of the official visit to Germany of the President of Uzbekistan Shavkat Mirziyoyev, Uzbek companies signed a number of strategic partnership agreements with Siemens for implementing energy and industry projects. In particular:

President Shavkat Mirziyoyev signed the Creation of Andijan-Pharm Free Economic Zone Decree. The free economic zone (FEZ) is being set up in the Andijan district of the Andijan province, with the validity term of 30 years and possibility of extension, the decree says.

When you run a large landlocked central Asian state rich in uranium and with big economic ambitions, what do you do? You build a nuclear power plant. 

The Uzbekistan Ministry of Economy has been reorganized into the Ministry of Economy and Industry. This is provided for by the President’s Measures to Fundamentally Improve the System for Implementing the Economic Policies Decree.

The Economic Council has been formed in Uzbekistan for implementation of the Uzbekistan Reforms Road Map for 2019-2021.

Uzbekistan is planning to buy two Talgo-250 high-speed trains and four economy-class cars, as part move to improve quality of rail transportation and passenger service.