Thursday, 20, January, 2022

Economy

The President Shavkat Mirziyoyev visited the Navoiazot on August 27, where he attended the ceremony of launching nitric acid, ammonia and urea production units, the presidential press service said.

On August 25, the President Shavkat Mirziyoyev signed the Additional measures to support the pubs and restaurants and promoting tourism Decree.

The Deputy Prime Minister/Minister of Investment and Foreign Trade S. Umurzakov held online talks with Advisor Abdul Razzak Davud to the Prime Minister of Pakistan and discussed the implementation of the agreements reached following the visit of the Prime Minister of Pakistan to Uzbekistan in July this year, the ministry said.

The Central Bank of Uzbekistan announced on Saturday it made a decision to issue new 5,000- and 10,000-soum banknotes from August 26, 2021.

The Top 10 countries with the highest share in Uzbekistan's imports have been announced. According to the Statistics Committee, in January-July 2021, the countries with the highest share in Uzbekistan’s imports are (USD):

The Ministry of Energy has presented a list of renewable energy projects to be launched. According to the ministry, the list includes seven projects with total capacity of 2,797 MW:

53.8 billion cubic meters (BCM) of gas is expected to be produced in Uzbekistan in 2021, follows from the footage of the presentation at a meeting chaired by President Shavkat Mirziyoyev on Monday.

The President Shavkat Mirziyoyev signed a decree stipulating the construction of power plants in Khorezm and Surkhandarya provinces.

Uzbekistan will cut tax rates on gold, uranium, natural gas and oil production for foreign investors, announced the president Mirziyoyev at a ceremony dedicated to the start of the 3rd ore beneficiation plant project at the Almalyk Mining and Metallurgical Kombinat.

On July 29, President   visited the Yoshlik-1 field of the Almalyk Mining and Metallurgical Kombinat (AMMK), the presidential press service said.

The Central Bank last quarter set its forecast for GDP growth at 5.8 percentage points, but has now raised it to 6.8 percent.

The European Bank for Reconstruction and Development published its latest Regional Economic Prospects (REP) report, according to which the economy of Uzbekistan is set to grow by 5.6 per cent in 2021 and 6 per cent in 2022. The REP is expecting private consumption and investment to rebound as well.

In five months of 2021, Kazakhstan bought most of the cars from Uzbekistan. In Q1 of the last year and at the year-end of the, Kazakhstan was the leader in terms of the import of cars from Uzbekistan, the Statistics Committee said in a report.

Enter Engineering and Uralmashzavod (subsidiary of UZTM-KARTEX group which is part of Gazprombank industrial group) in a consortium will build an ore beneficiation plant in Uzbekistan, the press service of the Russian company said.

On June 22, the second meeting of the joint commission at the level of the heads of government of Uzbekistan and Russia was held in Moscow.

The Russian Prime Minister Mikhail Mishustin at the joint commission meeting at the level of the heads of government of the Russian Federation and Uzbekistan said that the full-fledged participation of Uzbekistan in the EAEU would provide opportunities for the growth of the Uzbek economy.

For the first time since September last year Uzbekistan exported gold, the Statistics Committee said. Nearly US$ 1.2 billion worth of gold was exported, with the country’s international trade figure in January-May topping US$ 14.5 billion, which, recording an increase by US$ 1.7 billion compared to the same period in 2020, (or + 13.2%).

Uzbekistan gross gold and foreign exchange reserves of as of June 1 topped US$ 35.5 billion, recording US$ 1.3 billion increase over the month, the Central Bank said in a report. This is the highest figure in Uzbekistan’s entire history of gold and foreign exchange statistics.

The Ministry of Public Education of Uzbekistan and the World Bank jointly organized an International Forum involving dozens of local and international experts in education. The event participants considered the experience of European and Asian states in boosting their economies through investments in education, and critically analyzed reforms in Uzbekistan to develop modern skills and knowledge of the youth that will improve the country’s competitiveness.  

The Cabinet of Ministers issued a resolution on June 4 (No. 352) waiving a list of process equipment not produced in the country from customs duties and value added tax (VAT) when imported into the territory of Uzbekistan, the Ministry of Justice said.