On 18 October, Laziz Kudratov, the Minister of Investments, Industry and Trade of the Republic of Uzbekistan, participated in the 13th meeting of the Ministers of Economy and Trade and the 15th meeting of the Working Group on Economic Cooperation of the member states of the Turkic States Organization (TSO) held in Bishkek.
The meeting brought together key representatives from member states, including TSO Secretary-General Kubanychbek Omuraliev, the Minister of Economy and Commerce of the Kyrgyz Republic Daniyar Amangeldiev, the Minister of Trade of Turkey Ömer Bolat, the State Minister for Security Policy of Hungary’s Ministry of Foreign Affairs and Trade Péter Sztaray, as well as representatives from Azerbaijan and Kazakhstan.
Laziz Kudratov emphasized the important role of the TSO in the system of international relations and noted the successes in developing regional cooperation. Over the past five years, Uzbekistan’s foreign trade turnover with TSO member countries has increased by 25%, reaching US$10 billion by the end of last year. Since the beginning of this year, over 500 new enterprises with the participation of capital from TSO member countries have been opened in Uzbekistan, bringing the total number to 4,000. The inflow of investments from TSO member states has exceeded US$5 billion over the past three years.
Minister Kudratov presented several proposals for further strengthening economic cooperation within the TSO. "We strive for full digitalization of trade and cargo transportation procedures, the creation of ‘green corridors’ and a ‘single window’ to simplify customs procedures," he noted.
He also emphasized the importance of stimulating mutual investments by implementing financial support mechanisms and developing transport communications and transit corridors. "Uzbekistan is ready to invest all efforts in creating a unified transit network and forming a joint railway network within the TSO," stated Kudratov.
During the meeting, Minister Kudratov held several discussions with colleagues from other countries, including the Minister of Economy of Kyrgyzstan Daniyar Amangeldiev and the Minister of Trade of Turkey Ömer Bolat. The parties discussed the current state and prospects for developing bilateral and multilateral cooperation.
Reported by the Uzbekistan Daily.
The year 2025 will see attraction of the private sector in all areas, head of the State Assets Management Agency Akmalkhon Ortiqov said. He added that ministers will get deputies for digitisation and privatisation.
Ministers in Uzbekistan will have deputies for digitisation and privatisation, director of the State Assets Management Agency Akmalkhon Ortiqov said in an interview to Uzbekistan 24 TV channel.
According to him,...
The year 2025 will see attraction of the private sector in all areas, head of the State Assets Management Agency Akmalkhon Ortiqov said. He added that ministers will get deputies for digitisation and privatisation.
Ministers in Uzbekistan will have deputies for digitisation and privatisation, director of the State Assets Management Agency Akmalkhon Ortiqov said in an interview to Uzbekistan 24 TV channel.
According to him,...
Following the recent announcement of Uzbekistan’s long-awaited conflict of interest law, the country took another significant step in its anti-corruption efforts by hosting the IV Tashkent Anti-Corruption Forum. Organized by the Anti-Corruption Agency of Uzbekistan in collaboration with the European Union, GIZ (German Enterprise for International Cooperation), and the United...
Following the recent announcement of Uzbekistan’s long-awaited conflict of interest law, the country took another significant step in its anti-corruption efforts by hosting the IV Tashkent Anti-Corruption Forum. Organized by the Anti-Corruption Agency of Uzbekistan in collaboration with the European Union, GIZ (German Enterprise for International Cooperation), and the United...
A law signed by the President introduces amendments and additions to several legislative acts, aimed at enhancing social protection for citizens requiring assistance.
The law brings changes to various statutes, including delegating the National Agency for Social Protection with responsibilities such as issuing funeral benefits and defining its authority in protecting...
A law signed by the President introduces amendments and additions to several legislative acts, aimed at enhancing social protection for citizens requiring assistance.
The law brings changes to various statutes, including delegating the National Agency for Social Protection with responsibilities such as issuing funeral benefits and defining its authority in protecting...
On October 17, during the IV Tashkent Anti-Corruption Forum, Akmal Burkhanov, Director of the Anti-Corruption Agency, announced that bribery cases among officials in Uzbekistan have significantly decreased. However, he noted that other forms of corruption, such as embezzlement of budget funds and abuse of office, have shown a concerning increase.
Burkhanov...
On October 17, during the IV Tashkent Anti-Corruption Forum, Akmal Burkhanov, Director of the Anti-Corruption Agency, announced that bribery cases among officials in Uzbekistan have significantly decreased. However, he noted that other forms of corruption, such as embezzlement of budget funds and abuse of office, have shown a concerning increase.
Burkhanov...
Uz500, a wealth advisory and private sector development organization has initiated an analysis of foreign direct investments in Uzbekistan, focusing on the involvement of global billionaires, sovereign wealth funds (SWFs), and multinational corporations (MNCs) with direct and indirect stakes in the country. Leading this review is Warren Buffett, the world-renowned investor, whose...
Uz500, a wealth advisory and private sector development organization has initiated an analysis of foreign direct investments in Uzbekistan, focusing on the involvement of global billionaires, sovereign wealth funds (SWFs), and multinational corporations (MNCs) with direct and indirect stakes in the country. Leading this review is Warren Buffett, the world-renowned investor, whose...
Uzbekistan aims to boost its gross domestic product (GDP) to US$200 billion by 2030. This was announced on 17 October by Ilkhom Norkulov, the First Deputy Minister of Economy and Finance, in an interview with the Oʻzbekiston 24 television channel.
During a meeting chaired by President Shavkat Mirziyoyev, the expected economic...
Uzbekistan aims to boost its gross domestic product (GDP) to US$200 billion by 2030. This was announced on 17 October by Ilkhom Norkulov, the First Deputy Minister of Economy and Finance, in an interview with the Oʻzbekiston 24 television channel.
During a meeting chaired by President Shavkat Mirziyoyev, the expected economic...
Representatives of the Consulate General of Uzbekistan in Guangzhou held a meeting with Cheng Xijin, Deputy Director of the Organizing Committee of the China International Fair for Investment and Trade (CIFIT), Dunyo news agency reported.
During the meeting, they discussed the results of the 24th CIFIT, held on September 8-9 in...
Representatives of the Consulate General of Uzbekistan in Guangzhou held a meeting with Cheng Xijin, Deputy Director of the Organizing Committee of the China International Fair for Investment and Trade (CIFIT), Dunyo news agency reported.
During the meeting, they discussed the results of the 24th CIFIT, held on September 8-9 in...
Uzbekistan’s financial system faces significant risks, with external geopolitical instability being the foremost concern, according to a survey conducted by the Central Bank of Uzbekistan. The findings were included in the bank's 2024 Financial Stability Report, which highlights key vulnerabilities and potential threats to the country’s financial sector.
The survey, conducted...
Uzbekistan’s financial system faces significant risks, with external geopolitical instability being the foremost concern, according to a survey conducted by the Central Bank of Uzbekistan. The findings were included in the bank's 2024 Financial Stability Report, which highlights key vulnerabilities and potential threats to the country’s financial sector.
The survey, conducted...
The Uzbek soum continues its gradual weakening against the US dollar. As of 17 October, the dollar is trading at 12,800 soum, marking a slight 0.04% decline for the sum over the past week. This minor drop, consistent with earlier signals, reaffirms the soum’s weakening trend.
The unstable position of the...
The Uzbek soum continues its gradual weakening against the US dollar. As of 17 October, the dollar is trading at 12,800 soum, marking a slight 0.04% decline for the sum over the past week. This minor drop, consistent with earlier signals, reaffirms the soum’s weakening trend.
The unstable position of the...
The price of AI-80 gasoline in Uzbekistan has surged by nearly 40% in the past year, reaching record levels on the commodity exchange. As of October 16, the cost of one ton of AI-80 gasoline on the exchange exceeded 10 million UZS, significantly impacting retail prices at private gas stations,...
The price of AI-80 gasoline in Uzbekistan has surged by nearly 40% in the past year, reaching record levels on the commodity exchange. As of October 16, the cost of one ton of AI-80 gasoline on the exchange exceeded 10 million UZS, significantly impacting retail prices at private gas stations,...
Uzbekistan's foreign trade turnover reached $48.2bn from January to September 2024, marking an increase of $3.5bn (7.7%) compared to the same period in 2023. This growth reflects the effectiveness of ongoing economic reforms aimed at enhancing trade relations and increasing the country's export potential.
During this period, exports accounted for $19.77bn, showing...
Uzbekistan's foreign trade turnover reached $48.2bn from January to September 2024, marking an increase of $3.5bn (7.7%) compared to the same period in 2023. This growth reflects the effectiveness of ongoing economic reforms aimed at enhancing trade relations and increasing the country's export potential.
During this period, exports accounted for $19.77bn, showing...
Over the past five years, Uzbekistan’s foreign trade turnover with member countries of the Organization of Turkic States increased by 25%, reaching $10bn in 2023. This growth was highlighted during the 13th Meeting of Ministers of Economy and Trade and the 15th Economic Cooperation Working Group of the Organization of Turkic States...
Over the past five years, Uzbekistan’s foreign trade turnover with member countries of the Organization of Turkic States increased by 25%, reaching $10bn in 2023. This growth was highlighted during the 13th Meeting of Ministers of Economy and Trade and the 15th Economic Cooperation Working Group of the Organization of Turkic States...
The Central Bank of Uzbekistan is set to announce its three-year monetary policy framework on October 31, with a renewed target to achieve 5% inflation. Behzod Khamroev, a member of the Central Bank’s board, emphasized that fundamental risks, such as the budget deficit and preferential lending, play a more significant...
The Central Bank of Uzbekistan is set to announce its three-year monetary policy framework on October 31, with a renewed target to achieve 5% inflation. Behzod Khamroev, a member of the Central Bank’s board, emphasized that fundamental risks, such as the budget deficit and preferential lending, play a more significant...
Officials from Uzbekistan’s embassy have held negotiations with representatives from Lulu Group International’s Kuwait office, discussing opportunities to enhance exports of Uzbek products to international markets. The talks focused on increasing the volume of goods produced in Uzbekistan being exported to foreign countries, with both sides expressing optimism about potential...
Officials from Uzbekistan’s embassy have held negotiations with representatives from Lulu Group International’s Kuwait office, discussing opportunities to enhance exports of Uzbek products to international markets. The talks focused on increasing the volume of goods produced in Uzbekistan being exported to foreign countries, with both sides expressing optimism about potential...
Uzbekistan has launched the second phase of its Integrated Rural Development project, continuing efforts to improve socio-economic conditions in remote areas. The project, implemented by the Ministry of Economy and Finance in partnership with the Islamic Development Bank (IsDB) and the United Nations Development Programme (UNDP), will focus on enhancing...
Uzbekistan has launched the second phase of its Integrated Rural Development project, continuing efforts to improve socio-economic conditions in remote areas. The project, implemented by the Ministry of Economy and Finance in partnership with the Islamic Development Bank (IsDB) and the United Nations Development Programme (UNDP), will focus on enhancing...
The Chinese company Everbright Environment Ltd. will begin producing electricity from waste in Namangan region.
Negotiations on this matter were held in July of this year during a visit by a delegation led by the Governor of the Namangan region, Shavkatjon Abdurazzakov, to the People’s Republic of China.
On 19 October 2024,...
The Chinese company Everbright Environment Ltd. will begin producing electricity from waste in Namangan region.
Negotiations on this matter were held in July of this year during a visit by a delegation led by the Governor of the Namangan region, Shavkatjon Abdurazzakov, to the People’s Republic of China.
On 19 October 2024,...
A new plant for the production of FAW brand trucks will be built in Andijan, according to the regional administration’s press service.
A delegation from the Chinese automotive manufacturer FAW held discussions with the Andijan regional administration and visited the "Ipak Yuli" Free Economic Zone to assess the site for the...
A new plant for the production of FAW brand trucks will be built in Andijan, according to the regional administration’s press service.
A delegation from the Chinese automotive manufacturer FAW held discussions with the Andijan regional administration and visited the "Ipak Yuli" Free Economic Zone to assess the site for the...
A meeting held at the Uzcharmsanoat Association has opened new opportunities for cooperation between Uzbekistan and Bangladesh in the leather industry.
Akbar Sultanov, Acting Chairman of the Association, presented to the Ambassador of the People's Republic of Bangladesh, Mohammad Monirul Islam, several promising areas for joint development:
- Investments in the production...
A meeting held at the Uzcharmsanoat Association has opened new opportunities for cooperation between Uzbekistan and Bangladesh in the leather industry.
Akbar Sultanov, Acting Chairman of the Association, presented to the Ambassador of the People's Republic of Bangladesh, Mohammad Monirul Islam, several promising areas for joint development:
- Investments in the production...
Representatives from Uzbekistan’s Ministry of Investments, Industry, and Trade, alongside officials from Uzkimyosanoat and Kuwait's EPSCO company, held an online meeting to discuss potential collaborations.
The virtual meeting, organized with support from Kuwait's embassy, focused on enhancing investment exchanges between the two nations and exploring opportunities for joint ventures.
During the meeting,...
Representatives from Uzbekistan’s Ministry of Investments, Industry, and Trade, alongside officials from Uzkimyosanoat and Kuwait's EPSCO company, held an online meeting to discuss potential collaborations.
The virtual meeting, organized with support from Kuwait's embassy, focused on enhancing investment exchanges between the two nations and exploring opportunities for joint ventures.
During the meeting,...
During the Week of International Partnership Initiatives in Tashkent, Transport Minister Ilhom Mahkamov announced that a complete agreement has been reached for the construction of the Trans-Afghan railway. This project aims to enhance regional connectivity and trade by linking Central Asia with key seaports in Pakistan. In an interview with...
During the Week of International Partnership Initiatives in Tashkent, Transport Minister Ilhom Mahkamov announced that a complete agreement has been reached for the construction of the Trans-Afghan railway. This project aims to enhance regional connectivity and trade by linking Central Asia with key seaports in Pakistan. In an interview with...
As part of the "Week of International Partnership Initiatives in Uzbekistan," the Ministry of Transport held a roundtable discussion featuring leading international experts focused on reforms in the transport sector and public-private partnership projects.
The roundtable gathered experts from the World Bank, EBRD, Boeing, TAV Technologies, as well as representatives from...
As part of the "Week of International Partnership Initiatives in Uzbekistan," the Ministry of Transport held a roundtable discussion featuring leading international experts focused on reforms in the transport sector and public-private partnership projects.
The roundtable gathered experts from the World Bank, EBRD, Boeing, TAV Technologies, as well as representatives from...
Qanot Sharq, a privately-run passenger airline based in Uzbekistan, has received the CCAR-129 certificate from Chinese aviation authorities, allowing it to operate scheduled flights to China. The certificate was officially handed over on October 16, confirming the airline's compliance with the standards set by the Civil Aviation Administration of China (CAAC).
On...
Qanot Sharq, a privately-run passenger airline based in Uzbekistan, has received the CCAR-129 certificate from Chinese aviation authorities, allowing it to operate scheduled flights to China. The certificate was officially handed over on October 16, confirming the airline's compliance with the standards set by the Civil Aviation Administration of China (CAAC).
On...
The South Korean company Ecofarm Global intends to implement several major projects in the Namangan region amounting to US$55 million.
On October 19, the Governor of the Namangan region, Shavkat Abdurazzakov, met with a delegation led by the company’s head, Lim Sang Hwan.
As part of the cooperation, it is planned to...
The South Korean company Ecofarm Global intends to implement several major projects in the Namangan region amounting to US$55 million.
On October 19, the Governor of the Namangan region, Shavkat Abdurazzakov, met with a delegation led by the company’s head, Lim Sang Hwan.
As part of the cooperation, it is planned to...
From January to September 2024, the Tashkent Metro transported 190.1 million passengers, according to data from the Statistics Agency.
This figure surpasses the same period last year by 73.4 million, reflecting a remarkable increase of 162.9%.
In 2024, the passenger flow in the Tashkent Metro is expected to reach a new record...
From January to September 2024, the Tashkent Metro transported 190.1 million passengers, according to data from the Statistics Agency.
This figure surpasses the same period last year by 73.4 million, reflecting a remarkable increase of 162.9%.
In 2024, the passenger flow in the Tashkent Metro is expected to reach a new record...
On October 17, Saida Mirziyoyeva, Assistant to the President of Uzbekistan, visited UZINFOCOM to review a new project aimed at digitalising the country's healthcare sector.
The digitalisation initiative will gradually automate key processes in medical institutions, integrating patient health information from various sources into a unified electronic medical record.
The system is...
On October 17, Saida Mirziyoyeva, Assistant to the President of Uzbekistan, visited UZINFOCOM to review a new project aimed at digitalising the country's healthcare sector.
The digitalisation initiative will gradually automate key processes in medical institutions, integrating patient health information from various sources into a unified electronic medical record.
The system is...
Uzbekistan is taking a step in enhancing its healthcare system with the launch of a tender for the 800-bed Ferghana Multidisciplinary Hospital Public-Private Partnership (PPP) project. This initiative marks a crucial milestone in Uzbekistan's ongoing efforts to improve public healthcare services across the nation, according to Erk Ozbelge, PPP Commercial Advisor...
Uzbekistan is taking a step in enhancing its healthcare system with the launch of a tender for the 800-bed Ferghana Multidisciplinary Hospital Public-Private Partnership (PPP) project. This initiative marks a crucial milestone in Uzbekistan's ongoing efforts to improve public healthcare services across the nation, according to Erk Ozbelge, PPP Commercial Advisor...
Young people from key BRICS countries are interested in developing the association, according to the results of a sociological study conducted in Brazil, Russia, India, China and South Africa on the eve of the Kazan summit of the organisation. Foreign youth, as it turned out, are well informed about Russia,...
Young people from key BRICS countries are interested in developing the association, according to the results of a sociological study conducted in Brazil, Russia, India, China and South Africa on the eve of the Kazan summit of the organisation. Foreign youth, as it turned out, are well informed about Russia,...
The Russian stock market ended the week with a multidirectional movement of indices. At the end of the day, the Moscow Stock Exchange index fell by 0.42% to 2,751.90 points, the RTS index added 0.33% due to the strengthening of the rouble and amounted to 899.12 points.
Expectations of an increase...
The Russian stock market ended the week with a multidirectional movement of indices. At the end of the day, the Moscow Stock Exchange index fell by 0.42% to 2,751.90 points, the RTS index added 0.33% due to the strengthening of the rouble and amounted to 899.12 points.
Expectations of an increase...
The quotes of the North Sea dated oil (NSD, reflects the cost of a basket of North Sea varieties Brent, Fortis, Oseberg, Ekofisk and Troll, as well as the American variety WTI Midland) minus a certain discount, as well as the index of the St. Petersburg International Stock Exchange (SpbMTSB)...
The quotes of the North Sea dated oil (NSD, reflects the cost of a basket of North Sea varieties Brent, Fortis, Oseberg, Ekofisk and Troll, as well as the American variety WTI Midland) minus a certain discount, as well as the index of the St. Petersburg International Stock Exchange (SpbMTSB)...
The practice of making coupon payments in rouble on yuan-denominated bonds, which was criticized by some participants in the debt market and the Moscow Exchange, found support from the Ministry of Finance. According to the agency, it not only does not violate the interests of investors, but also fits into...
The practice of making coupon payments in rouble on yuan-denominated bonds, which was criticized by some participants in the debt market and the Moscow Exchange, found support from the Ministry of Finance. According to the agency, it not only does not violate the interests of investors, but also fits into...
Businesses continue to take out loans, but their number is decreasing, the Bank of Russia notes. The increase in the rate creates additional difficulties for the industry, which must solve the problem of creating new and modernising old production facilities, officials of the Ministry of Industry and Trade say. Banks,...
Businesses continue to take out loans, but their number is decreasing, the Bank of Russia notes. The increase in the rate creates additional difficulties for the industry, which must solve the problem of creating new and modernising old production facilities, officials of the Ministry of Industry and Trade say. Banks,...
Following the results of the auction, the stock indexes of Shanghai and Hong Kong recorded sharp growth due to positive statistical data from China and new announced incentives.
The Japanese indicator increased slightly, the South Korean and Australian indices closed in the red.
China's Shanghai Composite index jumped 2.9%, Hong Kong's Hang...
Following the results of the auction, the stock indexes of Shanghai and Hong Kong recorded sharp growth due to positive statistical data from China and new announced incentives.
The Japanese indicator increased slightly, the South Korean and Australian indices closed in the red.
China's Shanghai Composite index jumped 2.9%, Hong Kong's Hang...
According to the results of the first nine months of 2024, the volume of investments in fixed assets in China increased by 3.4%. In annual terms, up to 37.8978 trillion yuan/about 5.3 trillion US dollar/, according to data published on Friday by the State Statistical Office.
During the reporting period, investments...
According to the results of the first nine months of 2024, the volume of investments in fixed assets in China increased by 3.4%. In annual terms, up to 37.8978 trillion yuan/about 5.3 trillion US dollar/, according to data published on Friday by the State Statistical Office.
During the reporting period, investments...
Chinese authorities will strengthen regulation of state-funded projects to solve the problem of late payments to enterprises, according to new recommendations published by the Office of the CPC Central Committee and the Office of the State Council of the People's Republic of China.
The relevant authorities should strengthen the regular supervision...
Chinese authorities will strengthen regulation of state-funded projects to solve the problem of late payments to enterprises, according to new recommendations published by the Office of the CPC Central Committee and the Office of the State Council of the People's Republic of China.
The relevant authorities should strengthen the regular supervision...
In the first three quarters of 2024, retail sales of consumer goods in China increased by 3.3%. On an annual basis, the State Statistical Office of the People's Republic of China reported on Friday.
The volume of retail sales of consumer goods in the country during the reporting period amounted to...
In the first three quarters of 2024, retail sales of consumer goods in China increased by 3.3%. On an annual basis, the State Statistical Office of the People's Republic of China reported on Friday.
The volume of retail sales of consumer goods in the country during the reporting period amounted to...
