Tuesday, 27, September, 2022

Business

The European Bank for Reconstruction and Development (EBRD) is stimulating the local production of pharmaceuticals in Central Asia’s most populous country, Uzbekistan, by extending a senior loan of up to US$ 5 million to local producer Nika Pharm.

The augmented reality mobile app developed by a team from Uzbekistan came in second in the list of the most popular AppStore apps in its category, downloaded in Iceland, the Ministry of Innovative Development said.

On December 18, in Seoul, the President Shavkat Mirziyoyev met with the chiefs of major companies and financial institutions in the Republic of Korea, the presidential press service said.

Draft of president’s Measures to remove barriers that negatively affect competition and to further expand business areas Decree has been published for input.

Tashkent hosted an international forum of European and Asian Business Ombudsmen entitled "Interregional cooperation for protection of business rights".

Uzbekistan exported 714 trucks in 10 months, the State Statistics Committee said in a report. According to the committee, in January-October 2021, Uzbekistan exported 714 trucks worth $ 11.5 million to 8 foreign countries.

QIWI Uzbekistan electronic money system was registered by the Central Bank, bringing the total number of e-wallets allowed to operate in Uzbekistan to 8.

On October 26, the Tashkent deputy mayor Sharof Rakhmanov hosted Ivan Demchenko, chairman of the board and director general of the Russian Novostal-M.

The International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) are promoting increased private-sector participation in Uzbekistan’s banking sector by acquiring stakes in TBC Bank Uzbekistan (TBC UZ), a subsidiary of TBC Bank Group, the largest banking group in Georgia and listed on the London Stock Exchange. The investment is aimed at strengthening digital finance in Uzbekistan, and thereby boosting financial inclusion in the country.

On September 28, 2021, American Chamber of Commerce in Uzbekistan with support from USAID’s Future Growth Initiative are organizing a working seminar on “How to do business in Uzbekistan”, which is going to be held at 1.30 pm in hybrid format – with location in Hyatt Regency Tashkent for offline participants and Zoom conference room for online participants.

On September 15, the President Shavkat Mirziyoyev signed another decree aimed at "further reducing the administrative and tax burden for businesses ", as well as "improving the system for protecting their rights." The document emphasized that it was developed following the August meeting of the head of state with business leaders.

A Provider of business solutions for the medical industry, K-DOD Korea Corp., announces the launch of the multi-functional Web Platform to connect Korean medical companies with the Asian market.

The President signed the Measures to create more favorable conditions for business entities for the perbuildance of tax obligations Decree on Monday.

Artel Electronics LLC (Artel), Central Asia’s leading home appliance and electronics manufacturer and one of Uzbekistan’s largest companies, continues to strengthen its Research and Development (R&D) position to bring new, innovative products to its customers.

On August 24, the President of Uzbekistan signed the Improving administration of value added tax Decree. The Decree was adopted to help "bona fide taxpayers to perform their tax obligations." It takes into account the proposals voiced in the framework of the President's open dialogue with business leaders on August 20.

The President Shavkat Mirziyoyev held a meeting with business executives, and announced a number of innovations aimed at easing doing business in Uzbekistan.

Trade and economic ties between Tashkent and Kabul, despite the aggravation of the situation in Afghanistan caused by the change of power in the country, should soon be restored, said on Tuesday the director of Termez Cargo Center, the largest logistics terminal in southern Uzbekistan, Nodirbek Jalilov.

According to the State Statistics Committee, as of August 1, 2021, the number of foreign-invested enterprises registered in Uzbekistan topped 13.5 thousand, of which 12.9 thousand are operating.

The Hyatt Regency Tashkent hotel hosted a press conference on the occasion of the launch of the project on digitalization of small and medium-sized businesses, as well as on the export of their products in the Middle East and CIS regions using the capabilities of the Zoodmall online shopping platform.

The annual meeting of the Board of Governors of the Islamic Development Bank Group (IsDB) will be held in Tashkent on September 3-4.