Monday, 15, April, 2024

Economy

President Shavkat Mirziyoyev yesterday signed Measures to Further Ensure Food Security in Uzbekistan Decree. The document notes "the existence of serious systemic problems that facilitate the preservation of unhealthy competition, monopolizing by some entities of imports, artificial deficit and facts of unjustified overpricing for some items, which resulted in super profits made on this basis.

On 13 January 2018, JICA Uzbekistan Office and Torishima Pump Mfg. Co. Ltd, as well as Ministry of Agriculture and Water Resources of Uzbekistan conducted handover ceremony of “Double Suction Centrifugal Pump, Torishima Model CDM” pump equipment at the division of pump stations, energy and communications under Chirchik-Ahangaran department of irrigation system (Soylik-1).

President Shavkat Mirziyoyev signed a decree approving the Construction of a Mining and Metallurgical Complex on the basis of the Tebinbulak deposit Project.

In 2017, Uzbekistan exported US$ 13.9 billion worth of goods and services, 5.4% increase compared to 2016, with US$ 945.5 million worth of trade surplus.

Uzbekistan and Tajikistan have reached agreements on visa relations and on the most controversial section of the state boundary - the Farhad Dam, a source in the government said.

Uzbekistan in 2017 reduced petroleum production by 6.3% down to 806 Mt, and increased natural gas production up to 56.417 Bcm, or a 0.5% increase compared to 2016, statistics committee said.

The size of Uzbekistan’s shadow economy is estimated at over 50% of GDP, the first deputy economy minister Mubin Mirzayev said at International Press Club meeting Thursday.

In Uzbekistan, the concepts: "consumer basket" and "minimum subsistence level", as well as the criteria for their measuring, may be introduced. This is proposed in the draft 2018 State Program which has been posted for public consultation. It is planned to implement the initiative before July 1.

Uzbekistan will purchase 5,778 units of agromachineries in the first half-year of 2018. President Shavkat Mirziyoyev on 4 January signed Additional Measures to Further Enhance Equipedness of Agriculture With Machineries Decree.

President Shavkat Mirziyoyev on Dec. 29, 2017 signed Forecast for main Macroeconomic Figures and Parameters of Uzbekistan’s Budget for 2018 Decree, which envisages cutting from 27 to 5%, or by 5.4 times the excise duty for GM Uzbekistan cars.

President Shavkat Mirziyoyev signed Implementing the HS Nomenclature 2017 Edition Decree, which will come into force from January 1, 2018.

China Railway Tunnel Group has launched the Shargunkumir JSC modernization project, which envisages the increase in the hard coal production up to 900 thous. tons per year, Uzbekistan Railways said.

US$ 10 limit for duty-free personal import of consumer goods from neighboring countries is expected to become a thing of the past in Uzbekistan, a source in the government said.

Starting from January 1, 2018 Uzbekistan has increased excise duty for alcoholic beverages. The new rates were set by the President's Forecasts of main macroeconomic figures and parameters of Uzbekistan's State Budget for 2018 Decree.

Value-added tax (VAT) is expected to be cut in Uzbekistan, with the range of tax payers to be expanded and tax reliefs to be scrapped. This is stated in the December 29 President's decree which approved the main macroeconomic figures and parameters of the 2018 state budget.

The governments of Uzbekistan and Russia signed Agreement on Cooperation In the Field of Peaceful Uses of Nuclear Energy on Friday in Tashkent. On behalf of the Government of Uzbekistan, the document was signed by Deputy PM Nodir Otadjonov, on behalf of the Russian Government - by the Director General of the RosAtom State Corporation, Alexei Likhachev.

Uzbekistan plans to increase exports up to $ 30 billion by 2022, Deputy foreign trade minister Sahib Saifnazarov said Wednesday in a briefing.

The Cabinet of Ministers issued Application and Open Use of World Geodetic Systems in Uzbekistan Resolution Tuesday, the Committee for land resources, geodesy, cartography and state cadaster said.

ToshShaharTransXizmat, a state owned company responsible for Tashkent transport, received 50 MAN A22CNG large capacity (90 passengers) low-floor 12-meter buses, MAN Auto-Uzbekistan said.

Uzbekistan and South Korea are intending to conclude an agreement on preferential trade, the Uzbek foreign trade ministry said, following the meeting with Korean Ambassador to Uzbekistan Kwon Yong-woo at the ministry yesterday, where the counterparts discussed implementation of the deals signed during the visit of the Uzbek President Shavkat Mirziyoyev to Korea on November 22-25.