Issue 805 - 26.01.2021
26.01.2021

Presidential elections in Uzbekistan may take place in October

On 25 January 2021, a regular meeting of the Uzbek Parliament was held. At it, the deputies considered in the first reading the draft law on Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Improvement of Electoral Legislation.

As it was emphasized, today one of the main tasks of further improving the country’s position in international ratings and indices is to improve the national electoral legislation, bringing it in line with generally recognized international standards.

There is a need to inform the international community about the essence of the large-scale democratic reforms in the field of elections being carried out in our country by implementing some of the recommendations of international organizations in national legislation proposed in the 2019 parliamentary elections.

The draft law, developed by a group of deputies on the right of legislative initiative, abolishes the institution of district election commissions that conduct elections to district councils of people’s deputies, their powers are transferred to district (city) election commissions. At the same time, the procedure for including citizens of Uzbekistan living abroad in the voter list, regardless of their consular registration in diplomatic missions, is determined, as well as the legal grounds for voting in portable ballot boxes at the place of residence or work of voters abroad.

The document also proposes to postpone the date of the elections in Uzbekistan from December to October.

According to Article 117 of the Constitution, presidential elections to the Legislative Chamber of Uzbekistan and the local Parliament of Karakalpakstan, as well as to the representative bodies of state power of regions, districts and cities are held in the year of the expiration of their constitutional term of office - on the first Sunday of the third decade of December.

The bill proposes to change the election day to the first Sunday in the third decade of October. If the amendments are approved, the presidential elections in Uzbekistan, scheduled for 2021, could take place on October 24.

The Law "On Financing of Political Parties" is being brought into line with the Electoral Code, which establishes the procedure for state financing of presidential elections, as well as parliamentary and elections of local representative bodies. 

In addition, a number of amendments are being made to the draft law based on the recommendations of the OSCE Office for Democratic Institutions and Human Rights. In particular, the task of election commissions on organizing meetings of candidates with voters is excluded, and the use of state resources during the election campaign is prohibited. In order to avoid an unjustified extension of the deadline for announcing the election results, the period for appealing against decisions of election commissions is reduced from 10 to 5 days.

Another important aspect is that political parties are introducing a procedure according to which interim pre-election and final financial reports are published, as well as the results of inspections by the Accounts Chamber of the activities of parties. This, in the opinion of the deputies, will serve to ensure the transparency of the use of funds allocated to political parties.

At the meeting, attention was paid to some aspects related to the elections in December. As noted, in accordance with the current legislation, elections of the President, elections to the Legislative Chamber of Parliament and local representative bodies are held, respectively, on the first Sunday of the third decade of December in the year of the expiration of their constitutional term. This leads to a delay in post-election political events, in particular, the adoption of the State Program, etc.

In this regard, according to the draft law, it is proposed to hold elections on the first Sunday of the third decade of October.

As the members of parliament emphasize, after the adoption of the bill, the electoral legislation is being improved on the basis of generally recognized international electoral standards. Serves to ensure open and transparent electoral processes. Along with this, it will serve as the basis for the timely formation of the highest state bodies after the elections and the adoption of important political decisions.

Reported by the Uzbekistan Daily.

Uzbekistan General

26.01.2021

Uzbekistan drafts road map on cooperation with the EAEU

On 25 January 2021, a meeting of the working group of the Legislative Chamber of the Uzbek Parliament was held to study cooperation between the Republic of Uzbekistan and the Eurasian Economic Union.

It was attended by the head of the working group of the Legislative Chamber on organizing the study...

On 25 January 2021, a meeting of the working group of the Legislative Chamber of the Uzbek Parliament was held to study cooperation between the Republic of Uzbekistan and the Eurasian Economic Union.

It was attended by the head of the working group of the Legislative Chamber on organizing the study...

26.01.2021

Policy of decentralisation of public administration in Uzbekistan outlined

Since 2016, Uzbekistan has been actively taking steps to gradually decentralise public administration, however, there are a number of systemic problems along the way.

Since the first days of independence, Uzbekistan has paid attention to the issue of gradual decentralisation of the public administration system. Especially after 2016, this direction was...

Since 2016, Uzbekistan has been actively taking steps to gradually decentralise public administration, however, there are a number of systemic problems along the way.

Since the first days of independence, Uzbekistan has paid attention to the issue of gradual decentralisation of the public administration system. Especially after 2016, this direction was...

26.01.2021

US launches Field Epidemiological Program in Uzbekistan

The U.S. Centers for Disease Control and Prevention (CDC) launched a five-day Field Epidemiological Frontline Training Program (FETP) for 20 Uzbek epidemiologists from the Services for Sanitary and Epidemiological Well-being (SSEW) and 10 mentors from the Tashkent Medical Academy. 

The CDC FETP is a service-based training program for public health workers...

The U.S. Centers for Disease Control and Prevention (CDC) launched a five-day Field Epidemiological Frontline Training Program (FETP) for 20 Uzbek epidemiologists from the Services for Sanitary and Epidemiological Well-being (SSEW) and 10 mentors from the Tashkent Medical Academy. 

The CDC FETP is a service-based training program for public health workers...

Finance and Investment

26.01.2021

Uzbekistan allows prices for goods to be pegged to foreign currency

The law on currency regulation was amended. Now in Uzbekistan it is allowed to peg the prices of some goods to foreign currency and conventional units.

According to amendments to the law on foreign exchange regulation, price pegging is allowed when selling goods, works, services in Uzbekistan under public-private partnership agreements...

The law on currency regulation was amended. Now in Uzbekistan it is allowed to peg the prices of some goods to foreign currency and conventional units.

According to amendments to the law on foreign exchange regulation, price pegging is allowed when selling goods, works, services in Uzbekistan under public-private partnership agreements...

26.01.2021

Uzbekistan expects rise in prices for yarn and textiles

According to the information service of the Uztekstilprom association, since the end of last year, an increase in prices for yarn has been observed in the world market. According to industry experts, the main factors affecting price increases are:

The resumption of production activity and an increase in production volumes of...

According to the information service of the Uztekstilprom association, since the end of last year, an increase in prices for yarn has been observed in the world market. According to industry experts, the main factors affecting price increases are:

The resumption of production activity and an increase in production volumes of...

26.01.2021

Currency markets in limbo as bug busting turns into controversy

The dollar steadied, the euro slipped and riskier currencies remained strong on Monday, as currency markets were torn between optimism about U.S. stimulus plans, and the reality of slow vaccine rollout and the economic impact of lockdowns in Europe.

Market sentiment had turned more cautious at the end of last week...

The dollar steadied, the euro slipped and riskier currencies remained strong on Monday, as currency markets were torn between optimism about U.S. stimulus plans, and the reality of slow vaccine rollout and the economic impact of lockdowns in Europe.

Market sentiment had turned more cautious at the end of last week...

26.01.2021

Stock markets keep bullish, raising bubble fears

Global shares rose to just shy of record highs, as optimism over a $1.9 trillion U.S. stimulus plan outweighed increasing COVID-19 cases and delays in vaccine supplies.

MSCI's All Country World index, which tracks stocks across 49 countries, was up 0.2% on the day. E-mini futures for the S&P 500 gained...

Global shares rose to just shy of record highs, as optimism over a $1.9 trillion U.S. stimulus plan outweighed increasing COVID-19 cases and delays in vaccine supplies.

MSCI's All Country World index, which tracks stocks across 49 countries, was up 0.2% on the day. E-mini futures for the S&P 500 gained...

Oil and Gas Sector

26.01.2021

Uzbekistan ranks low gasoline prices

The cost of automobile fuel in the CA countries is one of the lowest everywhere much lower than the world average.

Among the countries of the former USSR, the cheapest gasoline is in the Central Asian republics Kazakhstan, Turkmenistan and Kyrgyzstan. There, the price per litre does not exceed 50 cents,...

The cost of automobile fuel in the CA countries is one of the lowest everywhere much lower than the world average.

Among the countries of the former USSR, the cheapest gasoline is in the Central Asian republics Kazakhstan, Turkmenistan and Kyrgyzstan. There, the price per litre does not exceed 50 cents,...

26.01.2021

Uzbekneftegaz: 2 gas turbine engines overhauled by the Ukrainian company MotorSich

Currently, 24 compressor stations are operated in the management and at the factories of Uzbekneftegaz JSC. With the production of hydrocarbons using these stations, more than 90% of the gas production plan is being implemented. To ensure the smooth operation of these stations, timely replacement of units, compressors and engines...

Currently, 24 compressor stations are operated in the management and at the factories of Uzbekneftegaz JSC. With the production of hydrocarbons using these stations, more than 90% of the gas production plan is being implemented. To ensure the smooth operation of these stations, timely replacement of units, compressors and engines...

26.01.2021

Brent holds on to position, clichés invoked

Oil prices were steady on Monday as support from U.S. stimulus plans and jitters about supplies competed with worries about demand due to renewed lockdowns to prevent the coronavirus from spreading.

Brent crude futures for March rose 7 cents, or 0.1%, to $55.48 a barrel by 1210 GMT. U.S. West Texas...

Oil prices were steady on Monday as support from U.S. stimulus plans and jitters about supplies competed with worries about demand due to renewed lockdowns to prevent the coronavirus from spreading.

Brent crude futures for March rose 7 cents, or 0.1%, to $55.48 a barrel by 1210 GMT. U.S. West Texas...

Trade and Consumer Goods

26.01.2021

Trade between EAEU countries still hindered by barriers

On January 18, 2021, President Tokayev in his address to the heads of the member states emphasised that business rightly expects decisive action from the government and the Eurasian Economic Commission. “The EEC will have to actively and transparently remove the existing and prevent the emergence of new trade barriers,...

On January 18, 2021, President Tokayev in his address to the heads of the member states emphasised that business rightly expects decisive action from the government and the Eurasian Economic Commission. “The EEC will have to actively and transparently remove the existing and prevent the emergence of new trade barriers,...

Agriculture

26.01.2021

Sales of Russian wheat keep surging amid gloomy export forecasts

Russia has sold 26.3 million tons of wheat since the beginning of July 2020 through January 14 2021, marking a 22.6 percent surge against the same period a year ago, the latest data by the country’s agricultural ministry shows.

Overall, grain exports have totaled 31.5 million tons since the beginning of...

Russia has sold 26.3 million tons of wheat since the beginning of July 2020 through January 14 2021, marking a 22.6 percent surge against the same period a year ago, the latest data by the country’s agricultural ministry shows.

Overall, grain exports have totaled 31.5 million tons since the beginning of...

26.01.2021

Russian wheat export prices go bearish on domestic market protection measures

Russian wheat export prices, which are also a benchmark for sales from Kazakhstan, fell last week after sharp growth earlier in the month as a result of an official proposal for higher wheat export tax from March 1, analysts said on Monday. Moscow is expected to approve the higher wheat...

Russian wheat export prices, which are also a benchmark for sales from Kazakhstan, fell last week after sharp growth earlier in the month as a result of an official proposal for higher wheat export tax from March 1, analysts said on Monday. Moscow is expected to approve the higher wheat...

26.01.2021

US wheat futures veer up as Russia tightens restrictions

Chicago soybeans rose on Monday after the previous session's sharp price fall attracted bargain hunters as market focus returned to tight U.S. soy supplies.

Wheat rose on good U.S. export prospects as rival exporter Russia leaves the global market, but corn fell.

Chicago Board of Trade most-active soybeans rose 0.1% to $13.13-1/2...

Chicago soybeans rose on Monday after the previous session's sharp price fall attracted bargain hunters as market focus returned to tight U.S. soy supplies.

Wheat rose on good U.S. export prospects as rival exporter Russia leaves the global market, but corn fell.

Chicago Board of Trade most-active soybeans rose 0.1% to $13.13-1/2...

Metals and Minerals

26.01.2021

Russia ramps up gold production despite pandemic

Gold mining companies of Russia’s Far Eastern Kamchatka Peninsula produced more than 6.8 tons of the yellow metal last year, which is an almost eight percent increase year-on-year.

According to Elena Kasyanyuk, deputy head of the subsoil use and mining department of the regional ministry of natural resources and ecology, the...

Gold mining companies of Russia’s Far Eastern Kamchatka Peninsula produced more than 6.8 tons of the yellow metal last year, which is an almost eight percent increase year-on-year.

According to Elena Kasyanyuk, deputy head of the subsoil use and mining department of the regional ministry of natural resources and ecology, the...

26.01.2021

Bullion attracts bulls on shaky US state support conditions

Gold prices rose on Monday as the dollar and yields remained under pressure, with investors eyeing a dovish U.S. Federal Reserve and a big stimulus package under U.S. President Joe Biden's administration.

Spot gold was up 0.5% at $1,860.90 per ounce by 1214 GMT, having fallen as much as 1.8% on...

Gold prices rose on Monday as the dollar and yields remained under pressure, with investors eyeing a dovish U.S. Federal Reserve and a big stimulus package under U.S. President Joe Biden's administration.

Spot gold was up 0.5% at $1,860.90 per ounce by 1214 GMT, having fallen as much as 1.8% on...

26.01.2021

Copper tops $8,000/t, leading overall base metals surge

Copper prices rose on Monday, as a weaker dollar made greenback-priced metals more appealing to holders of other currencies and as investors hoped for further U.S. stimulus.

Three-month copper on the London Metal Exchange rose 0.1% to $8,007 a tonne by 0703 GMT, while the most-traded March copper contract on the...

Copper prices rose on Monday, as a weaker dollar made greenback-priced metals more appealing to holders of other currencies and as investors hoped for further U.S. stimulus.

Three-month copper on the London Metal Exchange rose 0.1% to $8,007 a tonne by 0703 GMT, while the most-traded March copper contract on the...

Manufacturing industry

26.01.2021

Uzbek Passenger Vehicles Manufacturer UzAuto Motors Rated ‘B+/B’; Outlook Stable

S&P Global Ratings assigned ‘B+/B’ long- and short-term issuer credit ratings to UzAuto Motors. 

The stable outlook reflects expectation of S&P Global Ratings that the company will secure financing for its capital expenditure (capex) project in first-half 2021, recover its car sales in 2021 as the pandemic eases, and maintain moderate...

S&P Global Ratings assigned ‘B+/B’ long- and short-term issuer credit ratings to UzAuto Motors. 

The stable outlook reflects expectation of S&P Global Ratings that the company will secure financing for its capital expenditure (capex) project in first-half 2021, recover its car sales in 2021 as the pandemic eases, and maintain moderate...

26.01.2021

Uzbek President gets acquainted with investment projects in industry and logistics

On 25 January, President of Uzbekistan Shavkat Mirziyoyev got acquainted with the presentation of investment projects in the spheres of industry and logistics.

One of the projects is the organization of the production of tinplate in Tashkent, the cost of which is estimated at 280 million euros. It is planned that...

On 25 January, President of Uzbekistan Shavkat Mirziyoyev got acquainted with the presentation of investment projects in the spheres of industry and logistics.

One of the projects is the organization of the production of tinplate in Tashkent, the cost of which is estimated at 280 million euros. It is planned that...

Communications and Transportation

26.01.2021

Vaccination against COVID-19: EEC prescribes separate conditions for transport links for this group of passengers

Decisions on the resumption of full-fledged transport links between the EAEU countries are made at the national level, said Iya Malkina, Assistant to the Chairperson of the EEC Board, during a briefing.

“The Commission, for its part, proposes criteria under which the message can be resumed. So, on January 19, the...

Decisions on the resumption of full-fledged transport links between the EAEU countries are made at the national level, said Iya Malkina, Assistant to the Chairperson of the EEC Board, during a briefing.

“The Commission, for its part, proposes criteria under which the message can be resumed. So, on January 19, the...

26.01.2021

Google Cloud registered as taxpayer in Uzbekistan

Google Cloud has been registered as a taxpayer in Uzbekistan, Spot said referring to the State Tax Committee data.

It is a set of cloud services that includes G Suite, enterprise editions of Android and Chrome OS, APIs for machine learning and Google Maps, and more. The fact that Google...

Google Cloud has been registered as a taxpayer in Uzbekistan, Spot said referring to the State Tax Committee data.

It is a set of cloud services that includes G Suite, enterprise editions of Android and Chrome OS, APIs for machine learning and Google Maps, and more. The fact that Google Cloud has been...

26.01.2021

Uzbekistan Airports officially joins Airport Council International

Uzbekistan Airports officially joined Airport Council International.

Airports Council International (ACI), which is the International Association of World Airports, was founded in 1991 and is headquartered in Canada. There are regional offices in Europe, Africa, Asia, Latin and North America. 

As of January 2020, this organization unites 670 members and serves 1,979...

Uzbekistan Airports officially joined Airport Council International.

Airports Council International (ACI), which is the International Association of World Airports, was founded in 1991 and is headquartered in Canada. There are regional offices in Europe, Africa, Asia, Latin and North America. 

As of January 2020, this organization unites 670 members and serves 1,979...

26.01.2021

Sale of paper transport tickets in Uzbekistan ends on February 1

From February 1, the sale of paper tickets of all types is stopped, the press service of Toshshahartranskhizmat reported.

From the same date, daily rates for electronic monthly cards will be available. For the first time, you will need to buy a 30-day electronic card, tariffs can be selected in subsequent...

From February 1, the sale of paper tickets of all types is stopped, the press service of Toshshahartranskhizmat reported.

From the same date, daily rates for electronic monthly cards will be available. For the first time, you will need to buy a 30-day electronic card, tariffs can be selected in subsequent...

Real Estate and Construction

26.01.2021

Construction work in EAEU countries in January-November 2020 amounts to $130.3 billion

The value of construction work performed in the EAEU member states in January-November 2020 amounted to USD130.3 billion. This is stated in the analytical report of the Eurasian Economic Commission.

The volume of completed construction work increased compared to January-November 2019 at constant prices by 0.5%.

In January-November 2019 compared to January-November...

The value of construction work performed in the EAEU member states in January-November 2020 amounted to USD130.3 billion. This is stated in the analytical report of the Eurasian Economic Commission.

The volume of completed construction work increased compared to January-November 2019 at constant prices by 0.5%.

In January-November 2019 compared to January-November...

Regional News

26.01.2021

Investment in Russian bond market hits two-year high

Global investors are raising their stakes on the Russian bond market to the highest in the past two years. Last week, they invested $170 mln into this market, and over $320 mln since the start of 2021. Non-residents are buying Russian debt securities despite a rise in political risks, since...

Global investors are raising their stakes on the Russian bond market to the highest in the past two years. Last week, they invested $170 mln into this market, and over $320 mln since the start of 2021. Non-residents are buying Russian debt securities despite a rise in political risks, since...

26.01.2021

Russia cracks down on suspicious financial outflows from the country

The Russian government and the nation’s financial watchdog are reportedly working on a bill to prevent capital flight. The plan implies banning suspicious transactions to foreign bank accounts.

The Russian authorities want to battle a popular scheme for withdrawing money – when a company based in Russia transfers cash to a...

The Russian government and the nation’s financial watchdog are reportedly working on a bill to prevent capital flight. The plan implies banning suspicious transactions to foreign bank accounts.

The Russian authorities want to battle a popular scheme for withdrawing money – when a company based in Russia transfers cash to a...

26.01.2021

Russian equity posts gains as rouble retreats once more

The Russian rouble gave up early gains to hit a more than one-month low today in volatile trade, hampered by geopolitical risks related to the arrest of Kremlin critic Alexei Navalny and subsequent protests calling for his release.

Police detained more than 3,000 people and used force to break up rallies...

The Russian rouble gave up early gains to hit a more than one-month low today in volatile trade, hampered by geopolitical risks related to the arrest of Kremlin critic Alexei Navalny and subsequent protests calling for his release.

Police detained more than 3,000 people and used force to break up rallies...

26.01.2021

Yuan, China stocks keep riding high on consumer demand confidence

China shares ended higher on Monday, underpinned by consumer and liquor stocks, though gains were limited by Sino-U.S. tensions.

The blue-chip CSI300 index rose 1% to 5,625.92, while the Shanghai Composite Index added 0.5% to 3,624.24. Leading the rally, the CSI300 consumer staples index climbed 4.7%, while the CSI300 consumer discretionary...

China shares ended higher on Monday, underpinned by consumer and liquor stocks, though gains were limited by Sino-U.S. tensions.

The blue-chip CSI300 index rose 1% to 5,625.92, while the Shanghai Composite Index added 0.5% to 3,624.24. Leading the rally, the CSI300 consumer staples index climbed 4.7%, while the CSI300 consumer discretionary...

26.01.2021

China tops world in FDI in 2020

China was the world's largest recipient of foreign direct investment (FDI) in 2020, as flows rose by 4 percent to $163 billion, followed by the United States, a report by the United Nations Conference on Trade and Development (UNCTAD) showed Sunday.

While the news was good for China, overall global FDI...

China was the world's largest recipient of foreign direct investment (FDI) in 2020, as flows rose by 4 percent to $163 billion, followed by the United States, a report by the United Nations Conference on Trade and Development (UNCTAD) showed Sunday.

While the news was good for China, overall global FDI...

26.01.2021

China seeks to patch up relations with US

Beijing wants to clear away the negative atmosphere in US-Chinese relations. "Let the good angel come back to bless bilateral ties," the Chinese Foreign Ministry said earlier commenting on Biden’s inauguration. Yang Jiechi, a high-ranking Chinese politician and diplomat and a member of the Politburo, is being considered for the...

Beijing wants to clear away the negative atmosphere in US-Chinese relations. "Let the good angel come back to bless bilateral ties," the Chinese Foreign Ministry said earlier commenting on Biden’s inauguration. Yang Jiechi, a high-ranking Chinese politician and diplomat and a member of the Politburo, is being considered for the...

Prices and Statistics

26.01.2021

Commodities

Date: January 26, 2021; Source: Bloomberg.com

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Date: January 26, 2021; Source: Bloomberg.com

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26.01.2021

Exchange Rates

Date: January 26, 2021; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 10518.99
1 EURO EUR / UZS 12798.46
1 RUSSIAN ROUBLE RUB / UZS 139.72
1 GREAT BRITIAN POUND GBP / UZS  14394.19
1 KAZAKHSTAN TENGE KZT / UZS 25.01

Date: January 26, 2021; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

10518.99

1 EURO

EUR / UZS

12798.46

1 RUSSIAN ROUBLE

RUB / UZS

139.72

1 GREAT BRITIAN POUND

GBP / UZS

 14394.19

1 KAZAKHSTAN TENGE

KZT / UZS

25.01