Saturday, 27, July, 2024

Economy

In January-September 2017, Uzbekistan’s gross domestic product (GDP) grew by 5.3% compared to the same period in 2016,  to reach 170.07 trillion soums.

Uzbekistan’s trade turnover in January-September amounted to over US$ 19.947 billion, a 16.6% increase to the same period last year, the Statistics Committee announced.

There are few plants in the world that manufacture, repair and export rail cars. In particular, the JSC Tashkent Railway Construction and Repair Plant (TRCRP), part of Uzbekistan Railways, has begun exporting its products.

“Uzbekistan is moving to become the region’s leading economy, its financial center, Akmal Kamalov, chairman of the board of UzPahtaSanoatExport holding company, said yesterday in his opening remarks at the 13th International cotton and textile fair in Tashkent.

President Mirziyoyev signed decree on October 17 liquidating the holding company UzPahtaSanoatExport (Uz Cotton Industry Export).

Uzbekistan is seeking to deepen its strategic partnership with India, as it is planning to export more than 2,000 tonnes of uranium to power a growing number of nuclear plants in India, The Economic Times said.

The largest Uzbek glass bottles manufacturer, Asl Oyna will invest $ 178 million to expand its capacity. The company is intending to triple its production capacity from 200 to 600 million units a year through construction of the third, fourth and fifth glass melting furnaces and a raw materials enrichment plant for glass production. $ 130 million worth of process equipment will be purchased to this end, with at least one thousand new jobs to be created.

Delegation of ExxonMobil is expected to arrive in Uzbekistan either in October or November to sign accords on cooperation in oil and gas projects.

KAMAZ intends to set up assembly of its trucks in Uzbekistan, Uzbek Deputy PM Nodir Otanyonov said yesterday at Uzbekistan-Russia business forum.

Denis Manturov, the Russian Minister of Industry and Trade today arrived in Uzbekistan, the Sputnik News reported. Minister Manturov reportedly met with Uzbek Deputy PM Nodir Otadjonov, Foreign Trade Minister Elyor Ganiev and Defense Minister Abdusalom Azizov, and is attending the Uzbekistan-Russia business forum.

Uzbekistan-Tatarstan business forum held in Tashkent yesterday saw the signing of cooperation agreements in trade, health, tourism and information technologies.

President of LUKOIL Vagit Alekperov and the Prime Minister of Uzbekistan Abdulla Aripov participated in the official launch of new facilities at Gissar cluster of fields in Uzbekistan Saturday.

Uzbekistan and Afghanistan railway authorities met in Termez Satruday to discuss cooperation issues, the Uzbek Foreign Ministry said.

As part of Eurocement group's plant modernization program Akhangarancement launched a 3,500 ton per year refractory brick production plant.

President Shavkat Mirziyoyev today signed a decree aimed at preventing rise in prices for sugar.

Shargunkumir JSC Modernization Project was launched today in Saryasia district of Surkhandarya province.

Porcelain and ceramic glazed tiles manufacturing plant was inaugurated today at Angren free economic zone, the Committee for Investments said.

7th meeting of the Uzbekistan-Latvia intergovernmental commission for economic, industrial, scientific and technical cooperation and business forum is being held in Riga on August 28-30.

Uzbekistan is planning to build a pulp and paper mill in Tashkent province by 2020. The new capacities will reduce imports and satisfy the country's needs in pulp and paper by producing high-quality products with advanced technologies and by rational use of local raw materials.

As reported earlier the Uzbek-Chinese JV New Silk Road Oil & Gas Company has started construction of gas fields cluster at Karakul investment block (Bukhara province).