Thursday, 20, June, 2024

Economy

First Deputy Minister of Investments and Foreign Trade hosted Pakistani delegation headed by First Deputy Minister of Commerce Muhammad Saleh Farooqi, the MIFT reported.

The U.S.-based Honeywell UOP and Uzbekistan GTL signed a memorandum of cooperation on launching production of alkylbenzenes on Tuesday, the Ministry of Energy reported.

Global official gold reserves increased by 14.2t in December according to data released by the IMF. Healthy purchases from Turkey and Uzbekistan lifted gross purchases during the month. This marked the tenth monthly purchases for 2021.

In 2021, Uzbekistan imported 32.2 thousand tons of tea worth $ 42.8 million from 24 countries, the State Statistics Committee said. Reportedly, tea imports increased by 836 tons compared to 2020.

On February 14, the Deputy PM/Minister of Investments and Foreign Trade S. Umurzakov held talks with the President of the Islamic Development Bank (IDB) Muhammad Suleiman al-Jassir via a conference call.

Last year, Uzbekistan imported $7.5 millionworth of 28 thousand tons of rice from 14 countries, the State Statistics Committee said in report on Wednesday.

The Tashkent International Investment Forum (TIIF) will be held in Tashkent on March 24-26, the Ministry of Investments and Foreign Trade reported. It had been scheduled to take place in March 2020 but was postponed due to the coronavirus situation.

Uzbekistan will develop a network of EV charging stations, the Ministry of Energy said. Program of measures to create and develop a network of charging stations for electric vehicles will be developed By Q4 of 2022.

The President’s New Uzbekistan’s Development Strategy for 2022-2026 Decree approved the 2022State Program. According to the program, the Uzbek energy and natural gas markets will be liberalized with the establishment of guarantees of social protection, the Ministry of Energy reports.

The President’s New Uzbekistan’s Development Strategy for 2022-2026 Decree provides for the introduction of market mechanisms with guarantees of social protection in gas supply through expediting transformation of the oil and gas sector, the Ministry of Energy said.

Chirchik Chemical-industrial technopark will be set up in the Tashkent province in cooperation with the Tatarstan’s Khimgrad technopolis. The relevant decree was signed by the President of Uzbekistan on February 3.

The Senate on February 3 at its 23rd plenary session passed amendments to the Tax Code, providing for the extension of VAT waivers for a number of food items.

A draft presidential decree provides for an increase in the share of renewable energy sources (RES) to 25% by 2026, which will save about 3 billion cubic meters of natural gas per year, the Ministry of Energy reported.

Study conducted with international consulting companies found that the share of Uzbek shadow economy ranged from 48 to 62% of the GDP in 2020, announced the chief of the Strategic Development Agency M. Hasanova at a briefing.

On January 28, President Shavkat Mriziyoyev signed the New Uzbekistan’s Development Strategy for 2022-2026 Decree.

In 2021, Tajikistan sold more electricity abroad than in 2020, the Tajik Minister of Energy and Water Resources, Daler Juma told during a press conference.

Uzbekistan and Iran have agreed to develop railway transit, Miad Salihi, the general director of the Iranian Railways said on his Twitter page.

Value added tax (VAT) rate will be reduced from 15% to 12% from 2023. This is stated in the president’s New Uzbekistan’s Development Strategy of for 2022-2026 Decree.

The European Bank for Reconstruction and Development (EBRD) invested almost US$ 690 million (€607 million) in 22 projects in Uzbekistan in 2021, with Central Asia’s most populous state becoming the largest recipient of EBRD funds in the region for the second year running.

Two new coal-fired power units with a capacity of 300 MW each are set to be built at the Angren TPP, and which will be commissioned in 2024-2025, the Ministry of Energy said.