Monday, 02, December, 2024

Economy

Uzbekistan and Kazakhstan have decided to reopen road link on M-39 highway, which will decrease travel time from Tashkent to Samarkand.

The draft Presidential decree "On creation of a small industrial zone in Yangiyer city in Syrdarya region" has been posted on IASLA (Impact Assessment System of Legislative Acts) portal for public discussion.

The Dec 21 Presidential Resolution has approved a program for further development of the textile and sewing-knitwear industry in the country for 2017-2019.

From January 1, 2017 the Government of Uzbekistan has increased the rate of mandatory insurance contributions of citizens to the Off-budget Pension Fund under the Ministry of Finance from 7.5% to 8%.

On 27-28 December in Dushanbe was held the 4th meeting of the Intergovernmental commission on trade-economic cooperation between Uzbekistan and Tajikistan.

Officials from the Ministry of Agriculture, Irrigation and Livestock (MAIL) on Monday said that the process of exporting nearly 100,000 tons of wheat from Uzbekistan to Afghanistan will start within three months.

On December 26, Tashkent hosted the second meeting of the Joint Trade, Transport and Energy Commission between Uzbekistan and Afghanistan. The meeting was chaired by the Uzbek Foreign Economic Relations, Investments and Trade Minister, Elyor Ganiev and senior adviser to Afghan President, Humayun Kayumi.

Pakistan and Uzbekistan need to make efforts to enhance cooperation in the economic and commercial fields and fully exploit the huge potential for mutual trade Prime Minister Nawaz Sharif emphasized.

The Kazakhstan Ambassador to Uzbekistan, Erik Utembayev on Dec 23 announced that Uzbek and Kazakh authorities are working on simplification of border crossing procedure, Turkistan Press IA said.

Uzbek Export Corporation and KASB Group have signed agreements to set up the Uzbek-Pakistani Trade House, aimed at introducing technologically advanced agricultural equipment in Pakistan, as the country struggles to enhance per-acre yield due to application of obsolete technology, The Express Tribune reported.

The official foundation stone laying ceremony for the new glass production and deep processing unit, to be built by the Chinese Minyuan Sylu, took place on December 16 at Jizzakh free economic zone, Xinhua said.

A large government delegation of Uzbekistan, led by Deputy Prime Minister, Rustam Azimov, is expected to arrive in Dushanbe on December 26 for participation in the session of the Tajik-Uzbek intergovernmental commission for trade and economic cooperation.

Chinese Zhuhai Singyes Green Building Technology won the tender for the construction of solar photovoltaic plant in Samarkand region of Uzbekistan - the first in Central Asia.

UzbekEnergo announced that the consortium including the South Korean Hyundai Engineering and Hyundai Engineering & Construction won the tender for the modernization of Takhiatash Thermal Power Plant (TPP).

A trade in textiles protocol will be added to an existing EU-Uzbekistan partnership agreement after it was approved by members of the International Trade Committee of the European Parliament on Thursday.

The Uzbek Senate at its Tuesday plenary meeting approved the 2017 state budget with a 1% of GDP deficit or 2.4 trillion soums ($750 million).

Russian UralKhimMash will supply 15 devices for Muborak Gas Processing Plant with total weight of over 1.3 thousand tons, the company website said.

Makro neighborhood stores and supermarkets chain announced it has acquired the Sunday supermarkets chain. Following the merger Makro chain will  operate 40 stores in Tashkent city and the regions.

Uzbekistan has tremendous potential in renewable energy, which is still largely untapped. The total potential for biogas production in Uzbekistan is estimated to exceed  8.9 bln cub m. In terms of its calorific value, this corresponds to 6.5 bln cubic meters of natural gas, which is about 10% of Uzbekistan’s annual demand for energy supplies.

Performance of controlling bodies in Uzbekistan will no longer be evaluated by the number of detected offenses, enforcement measures or property seized from economic entities.