Tuesday, 23, July, 2024

Economy

Kazakhstan became the top importer of Uzbek-made footwear on 4.1 million pairs. According to the Statistics Agency, in January-April 2023, Uzbekistan exported 8.4 million pairs of shoes to 11 countries worth total of $12.5 million.

The World Bank has just released its latest Global Economic Prospects report. The Institution's flagship report, which is issued twice a year, in January and June, examines developments, risks, and prospects related to the global, regional, and domestic economies.

Tashkent hosted the 15th meeting of the intergovernmental commission on trade, economic, scientific and technical cooperation between Uzbekistan and Iran on Wednesday.

Deals were reached on renewable energy project with a total capacity of 6 gigawatts and the modernization of existing networks at the Uzbek-Chinese business forum in Xian, China, the Minister of Energy Jurabek Mirzamakhmudov told Kun.uz.

Shavkat Mirziyoev chaired a government meeting on the state of affairs in terms of introduction of renewable energy sources and the measures taken to ensure the stable operation of the energy system in the summer season.

Meeting with executives of Arton and Wehrhahn Gmbh was held at the Embassy of Uzbekistan in Berlin. According to the New Uzbekistan publication, contract on supply of production lines for two new plants to be commissioned in 2024 in the cities of Urganch and Andijan was signed with the German companies.

As part of the business program of his trip to Germany, President Shavkat Mirziyoyev today met with the leadership of major German companies and financial institutions, the presidential press service said in a statement.

Today, on May 2, ahead of the visit of the President Sh.M. Mirziyoyev to Germany, a joint business forum was held in Berlin, which was attended by over 250 chiefs of major companies, holdings and industrial enterprises, banks, ministries, departments and industry associations of the two countries.

On Thursday evening, April 27th, the Europe-Uzbekistan Association for Economic Cooperation (EUROUZ) together with the Delegation of the European Union to Uzbekistan organized an informal meeting between the European Union Sanctions Envoy the H.E. Mr. David O'Sullivan, and prominent Uzbekistan and EU business representatives in the country.

During his address at the session of the 2nd Tashkent Investmnet Forum, Shavkat Mirziyoyev stressed that important steps had been taken to liberalize Uzbekistan's international trade. In particular, customs duties have been abolished on over 7,000 items of raw materials and goods needed by investors.

Uzbekistan's GDP grew by 5.5% in Q1 of 2023, the Statistics Agency said. This is significantly higher than projected figure, which was voiced at a government meeting chaired by the president at the end of January.

President Shavkat Mirziyoyev signed decree on Thursday exempting a number of building materials imported into Uzbekistan from customs duties until January 1, 2025, the Ministry of Justice said.

In Uzbekistan and other CIS countries, banks are requesting additional documents for Russian clients for fear of secondary sanctions, the Russian publication Kommersant said.

President Shavkat Mirziyoyev approved amendments to the Consumer Loan Law, which now allow provision of consumer loans for imported goods with immediate effect. The Legislative Chamber passed the amendments on January 17, and the Senate on March 2.

Today, President Shavkat Mirziyoyev chaired a government meeting on investment, exports and international cooperation. At the meeting, officials reported on the work progress in this area. Shavkat Mirziyoyev undescored that since the beginning of the year $764 million of foreign investment had been disbursed, 1.3 thousand large and medium-sized projects have been launched, with exports topping $ 3 billion.

In 2022, the volume of disbursed investments in fixed capital in Uzbekistan topped 270 trillion soums, or US$ 24 billion.

Working group headed by the Minister of Investments, Industry and Trade Laziz Qudratov negotiations with the leadership of the UAE’s Ministry of Economy and Energy and Infrastructure in Abu Dhabi.

Uzbekistan economy grew by 5.7%, and GDP per capita reached $2,255 (+3.5%) in 2022. In 2022, the Uzbek GDP topped 888.34 trillion soums, US$ 80.38 billion at the exchange rate at that time, the Statistical Agency said in a report.

The volume of money remittances to Uzbekistan increased by 2.1 times in 2022 - to a record $16.9 billion, the governor of Central Bank Mamarizo Nurmuratov said at a press conference on Thursday.

In 2023, the Uzbek economy is projected to grow at an estimated 4.5-5%. According to the baseline scenario, the expected 2023 inflation rate will be 8.5-9.5%. This is stated in a press release of the Central Bank following the BOD meeting.