Thursday, 20, June, 2024


Uzbekistan is a country highly impacted by climate change, biodiversity loss and land degradation. The government is taking efforts for rapid transition to a more green, inclusive and climate-friendly economy a central pillar of its latest development plan. Its newly adopted environmental policies include the Concept on Environmental Protection until 2030 and the Strategy for Transition to Green Economy for the period 2019–2030.

President Shavkat Mirziyoyev chaired a governemnt meeting on the development of local industry on November 7, his spokesman Sherzod Asadov said on Monday.

Deputy PM/Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov spoke at the second International Economic Forum in Samarkand on November 3 about what Uzbekistan bankinf environment would be like in five years.

The Tashkent Times took an opportunity to talk about global trends and challenges of finance sustainability as a part of ESG with Dr. Peter Gassmann, Global Strategy& Leader, a key speaker of the panel session “Growth and Transformation from an ESG Perspective. Global Lessons Learned” hosted by PwC at the Uzbekistan Economic Forum, Samarkand, 3 - 4 November, 2022.

Tashkent hosted the meeting of the Uzbek-Russian intergovernmental commission on economic cooperation on Sunday, the Ministry of Investments and Foreign Trade said.

The South Korean giant LG may close a plant in the Moscow region and transfer production to Uzbekistan or Kazakhstan, Kommersant publication said referring to its source.

The Deputy PM/Minister of Investments and Foreign Trade Jamshid Khojaev held talks with the Minister of Economic Development of Hungary Marton Nadzi via conference call.

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.