Friday, 09, December, 2022

Economy

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.

The State Assets Management Agency has announced a selection of consulting companies to develop privatization strategies of Uzbekistan Airways and Thermal Power Plants.

The top 10 countries in Uzbekistan's exports have been announced by the State Statistics Committee. Reportedly, Russia is the top trade partner with the highest share of Uzbekistan's exports in January-July 2022, US$ 1.5 billion.

The Ministry of Transport has agreed with colleagues from Iran and Turkmenistan to simplify the international freight transportation, the Ministry said on Wednesday.

In January-July 2022, Uzbekistan's international trade topped US$ 28.1 billion, recording an increase of US$ 6.3 billion compared to the same period last year, the State Statistics Committee said in a report.

The level of diversification of Uzbekistan’s industrial exports was assessed by experts from the Institute for Forecasting and Macroeconomic Research.

The Uzbekistan unemployment rate in January-June 2022 was at 8.8%, a decrease by 0.9% compared to the same period last year.

In the first half of 2022, Tajikistan exported more than 6.6 thousand tons of cotton to Uzbekistan worth over US$17.3 million. According to Asia-Plus, citing the Customs Service of Tajikistan, this is almost 3.3 times higher than in the same period in 2021 ($5.3 million).

Deputy Prime Minister/Minister of Investments and Foreign Trade Jamshid Khojaev met with Turkish Minister of Trade Mehmet Muş, Dunyo reported.

Uzbekistan and Azerbaijan are to set up a $500 million investment fund for joint projects. This was discussed on August 1 at a meeting of the joint intergovernmental commission.

State Statistics Committee reported on countries with highest share of food items’ exports to Uzbekistan. Reportedly, the top country in terms of food exports to Uzbekistan in January-June 2022 was Kazakhstan on 37.9 percent.

Uzbekistan GDP reached 389.63 trillion soums ($35.27 billion) in January-June, according to provisional data from the State Statistics Committee, with real growth at 5.4% to the same period in 2021.

Uzbekistan and India held talks on enhancing cooperation in the agricultural sector. The meeting took place in New Delhi on July 28 as part of a visit by a government delegation led by Deputy Prime Minister/Minister of Investment and Foreign Trade Jamshid Khodjaev, the MIFT press service reported.