Monday, 15, April, 2024

Economy

Preliminary work for the 1200-1500 kW PV photoelectric power plant has begun at Sirdarya thermal power plant. After its commissioning, 3 million kWh of electricity will be produced annually, with 900,000 cubic meters of natural gas to be saved.

Government issues Additional measures to accelerate innovation and investment activities in the regions of the republic Resolution.

The President of General Motors will visit Uzbekistan. During meetings and negotiations in Tashkent, the head of GM intends to discuss the current state of cooperation between GM and Uzbekistan, in particular with UzAuto Motors, as well as further steps to develop the automotive industry in the republic.

Uzbekistan’s international trade surpassed US$ 36 billion for January-September 2022, the State Statistics Committee said in a report.

On October 12, Deputy PM/Minister of Investments and Foreign Trade Jamshid Khodjaev met with the Ambassador of Kyrgyzstan to Tashkent Musa Dzhamanbaev, the MIFT reported.

Meeting was held the mayor’s office of Surkhandarya’s Sherabad district between the leadership of the local branch of the Ministry of Investments and Foreign Trade and representatives of Masdar (UAE), dedicated to studying the progress of the photovoltaic plant (PV) plant project.

At the Tashkent Textile Summit, organized as part of the 5th International Textile Week, the results and results of the reforms carried out in the country's textile industry were summed up.

President Shavkat Mirziyoyev instructed to expedite the privatization of shares and stakes in chemical enterprises owned by the state and the Uzkimyosanoat company. The move is intended to attract direct investment into the industry and improve the efficiency of companies.

Turkey's Cengiz Enerji company is completing the construction of a new 220 MW gas-piston thermal power plant in Havas district of Sirdarya province. The construction and assembly works have been completed at the facility, and adjustment and commissioning are being performed.

Growth is expected to slow to 5.3 percent in 2022. Increased logistical challenges linked to sanctions on Russia are expected to dent private consumption growth. Private investment and exports are expected to grow strongly, and the current account balance improve, as Uzbekistan benefits from strong global commodity prices (gold, copper, natural gas) and increasing remittances.

Remittances are a very important source of financing in the countries of Central Asia. Kyrgyzstan, Tajikistan and Uzbekistan are among the largest recipients of remittances from Russia, making them particularly sensitive to changes in the Russian economy.

Senior executives of Uzbekneftgaz hosted the World Bank’s energy business mission to Uzbekistan. During the meeting, the parties discussed Road Map on reform Uzbekistan gas sector and low-carbon hydrogen production development.

The economies of Central Asia are showing strong resilience to the geopolitical adversities caused by Russia’s war on Ukraine, the European Bank for Reconstruction and Development (EBRD) reports in its latest Regional Economic Prospects today.

Deputy PM/Minister of Investments and Foreign Trade Jamshid Khojaev with business leaders providing services in the field of transport and logistics.

In the first year-half, tax revenues amounted to 18.6 trillion soums and remained at the level of last year. This is mainly due to the reduction of the increased tax rate for gold and copper miners.

On September 5, President Shavkat Mirziyoyev chaired a government meeting via conference call. During the meeting, he noted that Andijan, Bukhara and Khorezm provinces, thanks to the efficient use of land, managed to increase exports by 1.5 times. As a result of the reforms carried, the degree of provision with poultry products, fish, and rice has significantly improved.

The State Statistics Committee provided data on products with the highest share in food imports. Information is provided on the price of certain types of food products imported into Uzbekistan in January-July 2022.

The Ministries of Energy of Uzbekistan and Azerbaijan on August 29 signed a road map to expand cooperation in the field of energy, the press service of the Ministry of Energy said.

Port of Riga will be expanding cooperation with Uzbekistan Railways. The parties will work on expanding transit to and from Uzbekistan through Latvia. Uzbekistan Railways signed a memorandum of cooperation with Riga Free Port, the industry portal PortNews said.

The value added tax (VAT) rate will be cut from 15 to 12 percent in Uzbekistan from January 1, 2023. This was announced by President Shavkat Mirziyoyev today during an open dialogue with business leaders.