Tuesday, 28, May, 2024

Economy

President Shavkat Mirziyoyev, by his June 29 decree, approved the Concept for Improving Uzbekistan’s Tax Policy, which is aimed at “reducing the tax burden, simplifying the taxation system and improving tax administration" and which has been prepared based on the recommendations of the International Monetary Fund, the World Bank and other experts, with its draft passing public discussion.

Uzbekistan Airways will receive two Airbus A320 Neo aircrafts in December, and in the second half-year of 2019 - two new Boeing 787 Dreamliners, the carrier said. Expansion of the fleet is part of the company's development strategy and modernization program.

Uzbek Foreign Ministry hosted a meeting with New Zealand's Ambassador Ian Alexander Hill, the foreign ministry said. The sides reportedly made arrangements to sign accords on trade-economic, scientific and technical cooperation, mutual protection and promotion of investments, avoidance of double taxation, and a number of others accords.

The construction of a solar power plant in the Samarkand province is suspended, the chief of strategic development at Uzbekenergo Eso Sadullayev said at the conference: Realities and Proxpects of the Electricity Sector Reforms– Experience Gained, Lessons Learned and Myths Debunked in Tashkent on Monday, adding that the study of project feasibility study found that the project should be reviewed.

Uzbekistan and Russia agreed to build a nuclear power plant (NPP) in Uzbekistan’s Navoi province. Uzbek Ambassador to Russia Bakhrom Ashrafkhanov told RIA Novosti.

Uzbek Deputy PM/Minister of Finance Jamshid Kuchkarov hosted the visiting World Bank mission, the ministry said. The parties reportedly discussed state and technical aspects of reforming Uzbekistan’s tax system and considered prospects for medium-term technical assistance to Uzbekistan in the field of fiscal policy.

"Now it is the best time to start doing business in Uzbekistan," said Laziz Kudratov, the first deputy chairman of the Uzbek Committee for Investments, in his opening remarks at the Uzbekistan-Spain forum: Multifaceted Partnership, which kicked off Tuesday at the Wyndham Hotel, and which was co-organized by the committee, Spanish Export and Investment Agency ICEX and the Economic and Trade Department of the Spanish Embassy in Tashkent, PR branch of the committee. 

Oybek Mirzabekov has been appointed as new chairman of the board of Uzsanoatexport (transl. Uz Industry Export), which was created in 2015 through merger of Markazsanoateksport and Uzprommashimpeks.

Delegation of Hyundai Motor Group led by President Han Sung-Kwon will arrive in Tashkent on Tuesday, the Uzbek Foreign Ministry said. The program of the visit includes meetings and talks in the government of Uzbekistan, Uzavtosanoat , as well as a number of ministries and departments.

In Minsk, the Uzbek Chamber of Commerce and Industry (UCCI) and the Belarusian Chamber of Commerce and Industry (BCCI) co-organized a round table featuring the business executives of the two countries. The 15 agency and company strong Uzbekistan delegation led by the UCCI chairman Adham Ikramov met with executives of about 130 Belarusian companies in petrochemical, light and food industries, agriculture, pharmaceuticals, logistics, engineering and ICT.

The Cabinet of Ministers’ draft resolution approving the procedure for setting the minimum consumer basket and subsistence minimum was published for public consultation. The requirement to introduce the said concepts is stipulated by the state program "Year of Proactive Entrepreneurship, Innovative Ideas And Technologies".

President of Uzbekistan issued decree Thursday allowing sale of gold and silver bullions, weighing from 5 to 1000 g which are to be produced in a new plant at the Navoi Mining and Metallurgical Complex as of the spring of 2019, the Committee for Tourism Development said in a statement.

The European Union and the Republic of Uzbekistan held their 15th Cooperation Committee Meeting in Brussels. The meeting provided an opportunity to reaffirm the joint commitment of the EU and of Uzbekistan to further strengthen bilateral relations.

Prospects for possible production of electric vehicles in Uzbekistan were discussed at a meeting of Uzbek deputy innovations minister Atabek Nazirov with the officials of the Changan Automobile, the ministry said.

President of Uzbekistan Shavkat Mirziyoyev signed the Measures to Further Develop Jizzakh Battery Plant Decree. According to the document, 51% of shares of the Jizzakh battery plant will be put for sale to foreign investors.

Uzbekistan plans to launch the production of motorcycles Lifan (China) and Bajaj (India) brands. The plant for the former will be built in Namangan province, the latter in Navoi province, a source in Uzautosanoat (Uz Auto Industry, the state-owned automobile company) said.

Azerbaijan Airlines (AZAL) launch direct flights between Baku and Tashkent starting from June 30, 2018. According to the carrier, flights will be operated on Saturdays, from August 1 - twice a week on Wednesdays and Saturdays.

Uzbekistan delegation led by Foreign trade minister Jamshid Khodjaev will be visiting Belgium from June 5 to 8, to attend the 15th meeting of the Uzbekistan-EU Cooperation Committee and the 13th meeting of the Subcommittee on Economy, Trade and Investment.

Uzbekistan car making industry will be heading away from monopoly, Umidjan Salimov, chairman of Uzavtosanoat, said at a press conference in Tashkent on Thursday.

The first nuclear power plant in Uzbekistan may be built in Navoi province [in the west of Uzbekistan], said the general director of the state nuclear energy corporation Rosatom Alexei Likhachev.