Monday, 28, November, 2022

Finances

By the end of 2019, the total nominal value of securities issued in Uzbekistan is at 92.35 trillion soums. Of these, only 1.5% or 1.4 trillion soums, or less than 0.4% of GDP, is in free circulation.

Ernst & Young has been awarded a license of investment advisor in Uzbekistan and can operate as a licensed actor in securities markets.

President Shavkat Mirziyoyev instructed to unify regulations in the field of the capital market by the end of 2020, the Deputy Head of the Capital Market Development Agency, Sherzod Egamberdiev announced today.

Many accords were signed during the official visit of Shavkat Mirziyoev to Japan. In particular, Japan will provide 346 million yen (US$ 3.2 million) in a grant to improve the quality of life of households in the Aral Sea region.

The Japanese Prime Minister, Shinzo Abe at the press briefing told that Japan will provide yen loans for a number of projects in Uzbekistan, in particular for the construction of a new high energy-efficient thermal power plant in Navoi, (Navoi-3 CCPP) as part of the Navoi TPP Modernization Program.

Minister of Public Education Mr. Sherzod Shermatov and Deputy Country Director of Asian Development Bank’s (ADB) Uzbekistan Resident Mission Mr. Enrico Pinali have signed an agreement for ADB to advise on a public-private partnership (PPP) to help rehabilitate and construct public schools in Sergeli district of the capital city, Tashkent.

The Deputy Director of the Institute for Strategic and Interregional Studies think-tank under the President, Sanjar Valiev believes that it is necessary to accelerate the process of the Uzbekistan’s accession to the World Trade Organization (WTO).

Deputy Prime Minister Mr. Jamshid Kuchkarov and Officer-in-Charge of ADB’s office in Uzbekistan Mr. Enrico Pinali on 12 December signed loan agreements totaling $500 million for improving economic management and developing Uzbekistan’s mortgage market sector. 

On December 3, the National Interbank Processing Center (NIPC) and the nd global payments technology company Mastercard announced the launch of acceptance of Mastercard card payments on the Humo system, NIPC said.

Patients of healthcare centres in Uzbekistan will benefit from better care and hygiene standards following the introduction of modern medical manufacturing facilities in Uzbekistan, supported by the EBRD.

The President Mirziyoyev by his Nov. 30 decree transformed the National Bank for Foreign Economic Affairs (NBU) from unitary enterprise into a joint-stock company.

On October 9, President Shavkat Mirziyoyev signed a decree on Measures to improve the financial stability of Uzbekistan’s banking sector.

The Capital Market Development Agency (CMDA) prepared a bill proposing to lift the restrictions for issuing corporate bonds by limited liability companies.

The Asian Development Bank (ADB) has approved $200 million in loans that will help the Government of Uzbekistan reform its housing finance programs and provide families with more affordable mortgage products.

The Asian Development Bank (ADB) will issue Uzbek soum-denominated bonds, said the chairman of the Central Bank, Mamarizo Nurmuratov.

The Asian Development Bank (ADB) has approved a $300 million policy-based loan to further strengthen economic management in Uzbekistan, which should lead to greater macroeconomic stability and sustained economic growth.

The Uzbekistan interest rate will be cut, the Chair of the Central Bank, Mamarizo Nurmurodov said at a press conference on the main axes of monetary policy for 2020-2022.

The Uzbekistan’s GDP’s projected real growth in 2020 will be at 5.2–5.5%, while in 2021–2022 - at around 5.5–5.8%, the Central Bank of Uzbekistan said in a report on the main axes of monetary policies for 2020 and 2021−2022.

The President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti is planning to visit Uzbekistan in the first half of 2020 to discuss the expansion of the bank's activities in the country, the EBRD chief said at a meeting with the Uzbekistan Ambassador to the United Kingdom, Said Rustamov, the Foreign Ministry said.

Uzbekistan and the European Bank for Reconstruction and Development (EBRD) signed a loan agreement worth US$ 246.1 million for three projects on Wednesday. The document was signed following an interim session of the Council of Foreign Investors under the President, which was held in Tashkent, the Ministry of Investments and Foreign Trade said.