Wednesday, 29, November, 2023


Consumers in Uzbekistan will benefit from more choice thanks an expansion of the country’s leading food chain Korzinka, which is being supported by the EBRD with the Bank’s first equity investment in the country for a decade. This is a sign of growing investor confidence in the industry and in the country.

The main concern for Uzbekistan is the high inflation, Deputy PM/ Finance Minister, Jamshid Kuchkarov said at a meeting of the International Press Club Saturday.

Uzbekistan is considering handing over the controlling stake in the Republican Stock Exchange (UZSE) to Korean partners, the Capital Market Development Agency (CMDA) said.

The Minister of Investments and Foreign Trade, S. Umurzakov met with the new vice president of the Asian Infrastructure Investment Bank (AIIB), K. Limitovsky, for whom the trip to Uzbekistan was the first official visit since the appointment.

The Banking Supervision Committee of the Central Bank of Uzbekistan on January 20 issued a provisional license to the Georgian TBC Bank to set up a bank in Tashkent, the CB said in a statement.

On January 20, the South Korean Kobea Group launched the UzNEX crypto exchange in Uzbekistan, the only crypto exchange in Central Asia, UzA said in a statement. The exchange will use the soum, credit cards and US dollars in trading.

World Bank Vice President for Europe and Central Asia, Cyril Muller, welcomed the Government of Uzbekistan’s progress in transforming the economy and pledged the institution’s continued support for further reforms. Visiting Tashkent on January 16-17, he met with President Shavkat Mirziyoyev and senior government and parliamentary officials.

The volume of investment amounted to 220.7 trillion soums, or US$ 23 billion in 2019, exceeding the target by 2 times, while the volume of fixed investment amounted to 189.9 trillion soums, or US$ 19.8 billion, a 1.3 times year-to-year increase, the Ministry of Investment and Foreign Trade said.

On January 16, the Board of the Central Bank decided to keep the basic rate at 16% per annum, the regulator said in a statement.

The EBRD achieved a new record in Uzbekistan in 2019 with an annual investment of US$ 576 million (€517 million) through 13 private and public sector projects – an all-time high for the Bank in the country.

The Hyatt Regency Tashkent hotel will be privatized through the funds by The Abu Dhabi Uzbek Fund, Shavkat Mirziyoyev announced at the government meeting devoted to the implementation of agreements reached at visits to the United Arab Emirates and Japan.

The controlling stake in Asia Alliance Bank set to be sold to Japanese Sawada Holdings, it follows from the Dec. 28 presidential decree, signed following the official visit by Shavkat Mirziyoyev to Japan last December.

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.