Wednesday, 19, May, 2021

Business

Uzbekistan and Tajikistan businesses signed US$50 million worth of deals at the Investment Forum held in Dushanbe. The Forum was part of the Uzbek-Tajik Intergovernmental Commission meeting on Trade and Economic Cooperation and was attended by more than 300 people from both sides, including senior officials of government bodies, state companies and organizations, as well as representatives of the private sector, Asia-Plus said.

World renowned Nike and Adidas are planning to open sport shoes production units in Uzbekistan, Fakhriddin Boboev, chairman of Uzcharmsanoat association, said.

On August 14, the President got acquainted with the presentation of projects on tourism promotion. As reported by the presidential press service, Bostanlyk district of Tashkent province has a huge tourism potential. However, over the years the existing potential has not been fully tapped.

The territory of the Khazarasp free economic zone will be expanded through vacant land plots not used in agriculture, This is stated in the Aug. 17 presidential decree on the development of entrepreneurship in the Khorezm province and boosting the investment attractiveness of the province.

5 hectares of land on the shore of Kerkidon reservoir in Fergana’s Kuva district province have been put up for sale with the condition of investing in tourist facilities, the Tourism Development Committee said.

The production of Changan small trucks, a Chinese brand, will be launched at Namangan free economic zone, the Namangan province governor’s office said.

President Shavkat Mirziyoyev chaired a meeting on the implementation of the Banking System Reform Strategy for 2020–2025 and accelerating the transformation of banks, the presidential press service said.

IFC, a member of the World Bank Group, is providing a $12.5 million long-term loan to JSC Indorama Kokand Fertilizers and Chemicals to finance the modernization of its fertilizer plant in Uzbekistan, which will create jobs and benefit the country’s agriculture sector. The investments will help the company introduce energy-efficient technologies to boost production capacity of high quality phosphate fertilizers for local and regional farmers, improving crop yields and farmer incomes.

CIS Business Initiatives Week (BIW) will be held in Tashkent on September 9–13, the Tashkent mayor’s office said. The preparation plan for the event was approved by a government order.

Since February, Lukoil has reduced gas production in Uzbekistan by 40% of its design capacity due to low demand for gas in China due to coronavirus, the company said in a report for 2020 Q1.