Thursday, 20, June, 2024

Economy

UzbekNeftGaz and TurkmenNebit signed a memorandum of understanding. Following the talks between the Presidents of Uzbekistan and Turkmenistan at the Avaza congress center in Turkmenbashi city on Saturday.

On May 24-26, 2017, Turkish Minister of Economy Nihat Zeybekci is set to visit Uzbekistan to attend Uzbekistan-Turkey Economic Council meeting.

By 2021 UzbekNefteGaz  plans to increase its downstream refining and petrochemicals capacity through 78 projects worth $ 30.4 billion, it was announced at the Global Oil & Gas Uzbekistan 2017 international exhibition, which opened on Wednesday in Tashkent.

As part of his Syrdarya trip President Mirziyoyev inspected Yangier small industrial zone created by the March 30, 2017 Presidential decree.

President Shavkat Mirziyoyev as part of his Syrdarya province trip inspected the construction works progress at Sardoba Water Storage Reservoir.

The PSA Group will produce Peugeot and Citroën light commercial vehicles in Uzbekistan, following the signing of a joint venture agreement with JSC UzAvtoSanoat to create Uzbekistan Peugeot Citroën Automotive, an equally-owned company that will operate a production plant in the Jizzakh free economic zone, 200 km from Tashkent. The joint venture, whose initial capital will be 30 million euros, will require 130 million euros of total investments.

Uzbek President Shavkat Mirziyoyev oversaw the signing of deals worth as much as $22 billion during the state visit to Beijing on May 12-13, as Uzbekistan looks to cement ties with the world's second-largest economy.

"A number of infrastructure accords have been signed between Uzbekistan Railways and leading Chinese construction companies the state visit of the Uzbek President Shavkat Mirziyoyev to China. Chinese will help to build roads and a new road tunnel through the Kamchik Pass,” Khusniddin Khosilov, the chief engineer at Uzbekistan Temir Yollari, said in an interview to Uzbekistan channel.

President of Uzbekistan Shavkat Mirziyoyev met with Premier of the State Council of the People's Republic of China Li Keqiang.

In an intent to showcase Uzbekistan’s economic and investment potential, facilitate exchange of views on prospects for cooperation, Uzbekistan’s diplomatic mission in Turkey  together with the Eurasian Association of Economic Relations (EkoAvrasya) organized a conference entitled - Economic relations between Turkey and Uzbekistan in Ankara on Thursday.

Haldor Topsoe’s synthesis-gas technology has been chosen for OLTIN YO’L (Uzbekistan GTL) — a 38,000 barrels per day gas-to-liquids  energy plant in Uzbekistan. Topsoe will deliver proprietary equipment for two synthesis-gas trains, each including autothermal reformers (ATRs), waste heat boilers, steam drums, CTS burners, refractory materials, and HTZR target tiles. Uzbekistan GTL will produce synthetic diesel, jet fuel, and naphtha based on local natural gas.

Economic growth in Uzbekistan is expected to slightly decline to 6.2% this year, compared with 6.5% in 2016, as external factors continue to weigh and to crystalize internal macroeconomic vulnerabilities, increasing risks to growth, according to the EBRD’s latest Regional Economic Prospects report. 

According to UzbekEnergo, Japanese Kawasaki Heavy Industries and Marubeni Utilite Services will implement a project to modernize Ferghana Combined Heat and Power Plant (CHPP) and supply equipment on turnkey basis.

On May 3 Shavkat Mirziyoyev signed a decree creating seven free economic zones (FEZ), which will specialize in manufacturing of pharmaceutical products.

One of the flagship events of Uzbekistan's oil and gas industry- the 21st edition of Global Oil & Gas Uzbekistan/OGU 2017 International Exhibition and Conference series will be held on May 17-19 in Tashkent.

A number of program measures have been taken in Uzbekistan over the past years to ensure food security, including through increasing the production of fish products, which resulted in creation in 2016 alone of about 3 thousand hectares of new artificial ponds, where nearly 900 new fish farms are doing business.

The President Shavkat Mirziyoyev, as part of his Djizzakh province trip, visited Pakhtakor district, where he got acquainted with promising textile, clothing, leather, footwear and agriculture projects.

The First Deputy Chairman of the Uzbek Tourism Development Committee, Ravshan Usmanov held talks with Deputy Chairman of China’s Tourism Administration, Du Jiang in Beijing on Thursday.

On April 27, 2017 President Shavkat Mirziyoyev took part in the foundation stone laying ceremony of Jizzakh oil refinery complex in Jizzakh’s Zafarabad district, UzA said.

88.2 thousand passenger cars were produced in Uzbekistan in 2016, UzAvtoSanoat said in a statement. Along with that, the Uzbek automotive industry manufactured 3.42 thousand ISUZU buses and trucks and over 1 thousand MAN trucks.