Issue 927 - 23.07.2021
23.07.2021

Entrepreneurs and investors to participate in open dialogue with the President of Uzbekistan

In the near future, the President of the Republic of Uzbekistan will hold an open dialogue with entrepreneurs and investors of the country. The event will discuss and solve problems that business representatives have in the course of their activities, as well as consider proposals and initiatives to improve the business climate in the country.

In this regard, in order to organize and conduct this event at a high level, on July 21 this year, Deputy Prime Minister of the Republic of Uzbekistan Sardor Umurzakov held a meeting with the participation of heads of ministries, departments, industry associations, commercial banks and local authorities of the regional level.

During the meeting, it was announced that the Ministry of Investment and Foreign Trade, together with the Chamber of Commerce and Industry and other responsible departments, created a Headquarters to collect applications and proposals from entrepreneurs. The Headquarters employs employees and specialists of all key ministries and departments, and applications are received through a "call center" operating around the clock.

An analytical group consisting of specialists from ministries and departments is engaged in processing the received applications and sends a daily consolidated summary to the Administration of the President of the Republic of Uzbekistan to form the agenda of the upcoming event.

The reports on the work done to organize the activities of the Headquarters and the current results of the collection of appeals were heard. Instructions were given to ensure the continuous work of the Headquarters around the clock and the qualitative analysis of incoming requests, as well as the introduction of a special system for the prompt and effective solution of the issues under consideration.

The heads of ministries, departments, industry associations, commercial banks and local authorities were instructed to intensify targeted work with entrepreneurs, investors and exporters in order to attract them to participate in the event, identify existing issues and proposals, systematize them and classify them into systemic and individual problems. , as well as the development on their basis of constructive proposals to improve the business climate in the country.

They also noted the relevance of creating a permanent mechanism for direct communication between business representatives and the state and organizing systematic work to create the most favorable conditions for the development of entrepreneurship.

The headquarters for collecting applications from entrepreneurs and investors to participate in an open dialogue with the Head of State operates around the clock. From 20 July to 31 July, you can contact the headquarters with your problem or proposal and get a chance to discuss them directly with the President of the country.

Reported by the Uzbekistan Daily.

Uzbekistan General

23.07.2021

Remittances from Russia to Uzbekistan on the increase

Remittances from foreign migrants working in Russia have decreased. Nevertheless, remittances from Uzbek migrants increased by 12.4%.

According to the Central Bank of Russia, in the first three months of 2021, the volume of remittances of foreign citizens working in the Russian Federation to the CIS countries decreased by an average...

Remittances from foreign migrants working in Russia have decreased. Nevertheless, remittances from Uzbek migrants increased by 12.4%.

According to the Central Bank of Russia, in the first three months of 2021, the volume of remittances of foreign citizens working in the Russian Federation to the CIS countries decreased by an average...

23.07.2021

About 1.5 thousand military personnel of Uzbekistan and Russia to take part in joint exercises on border with Afghanistan

About 1.5 thousand servicemen of the Russian and Uzbek armed forces will take part in a joint exercise that will be held from July 30 to August 10 in Surkhandarya region of Uzbekistan. 

The exercises are planned at the Termez training ground in the area bordering Afghanistan, with the involvement of...

About 1.5 thousand servicemen of the Russian and Uzbek armed forces will take part in a joint exercise that will be held from July 30 to August 10 in Surkhandarya region of Uzbekistan. 

The exercises are planned at the Termez training ground in the area bordering Afghanistan, with the involvement of...

23.07.2021

Uzbekistan notes 38 cases of procurement violations

In the course of studies conducted by the Department of Financial and Compliance Studies, problematic and unreliable counterparties were identified under 120 contracts that did not complete the supply of goods (works, services), delivered low-quality, expired or inadequate goods, and also allowed insufficient or negligent fulfillment of obligations under the...

In the course of studies conducted by the Department of Financial and Compliance Studies, problematic and unreliable counterparties were identified under 120 contracts that did not complete the supply of goods (works, services), delivered low-quality, expired or inadequate goods, and also allowed insufficient or negligent fulfillment of obligations under the...

23.07.2021

Another 1 million doses of Uzbek-Chinese vaccine delivered to Uzbekistan

On 21 July, another batch of ZF-UZ-VAC2001 vaccine was delivered to Uzbekistan.

The total stock of vaccines in the country is 9 million 580 thousand doses. Of these, 370 thousand doses are Sputnik V, 710 thousand doses are the AstraZeneca vaccine and 8.5 million doses are the ZF-UZ-VAC2001 vaccine.

Reported by the...

On 21 July, another batch of ZF-UZ-VAC2001 vaccine was delivered to Uzbekistan.

The total stock of vaccines in the country is 9 million 580 thousand doses. Of these, 370 thousand doses are Sputnik V, 710 thousand doses are the AstraZeneca vaccine and 8.5 million doses are the ZF-UZ-VAC2001 vaccine.

Reported by the...

Finance and Investment

23.07.2021

Uzbekistan’s foreign trade turnover reaches US$18.01 billion in 1H

In January-June 2021, Uzbekistan’s foreign trade turnover reached US$18.01 billion, which, compared to the same period in 2020, increased by US$2.15 billion (an increase of 13.6%), the State Statistics Committee of Uzbekistan said.

Of the total volume of the FTT, exports amounted to US$7.05 billion (an increase of 12.3% was noted...

In January-June 2021, Uzbekistan’s foreign trade turnover reached US$18.01 billion, which, compared to the same period in 2020, increased by US$2.15 billion (an increase of 13.6%), the State Statistics Committee of Uzbekistan said.

Of the total volume of the FTT, exports amounted to US$7.05 billion (an increase of 12.3% was noted...

23.07.2021

Euro gives way on continued low interest rates

The euro traded just off 3-1/2 month lows versus the dollar on Thursday after the European Central Bank met expectations by pledging to keep interest rates at record lows for even longer to lift sluggish inflation in the euro zone.

Investors are now waiting for ECB boss Christine Lagarde's 1230 GMT...

The euro traded just off 3-1/2 month lows versus the dollar on Thursday after the European Central Bank met expectations by pledging to keep interest rates at record lows for even longer to lift sluggish inflation in the euro zone.

Investors are now waiting for ECB boss Christine Lagarde's 1230 GMT...

23.07.2021

Stock markets remain well-positioned on strong corporate performances

European shares held gains at midday, driven by strong corporate earnings and optimism over economic recovery from the Covid pandemic and hopes the European Central Bank would maintain a dovish stance on policy at its meeting later on Thursday.

The pan-European Stoxx 600 index was up 0.93% with all major bourses higher after...

European shares held gains at midday, driven by strong corporate earnings and optimism over economic recovery from the Covid pandemic and hopes the European Central Bank would maintain a dovish stance on policy at its meeting later on Thursday.

The pan-European Stoxx 600 index was up 0.93% with all major bourses higher after...

Oil and Gas Sector

23.07.2021

Eurasian Economic Commission holds first imitation exchange trading in petroleum products

On July 21, the Eurasian Economic Commission, together with the St. Petersburg International Commodity Exchange, as part of the work to create common markets for oil and oil products of the Eurasian Economic Union, held the first imitation exchange trading in oil products. More than 60 deals with gasoline and...

On July 21, the Eurasian Economic Commission, together with the St. Petersburg International Commodity Exchange, as part of the work to create common markets for oil and oil products of the Eurasian Economic Union, held the first imitation exchange trading in oil products. More than 60 deals with gasoline and...

23.07.2021

Uzbekistan ups gas, reduces oil production

The State Statistics Committee published a report on industrial production for the first six months of 2021.

Natural gas production in Uzbekistan in January-June 2021 increased by 4.7%, compared to the same period in 2020 up to 26,308 billion cubic meters.

Meanwhile, oil production decreased by 2.2% – to 350 thousand tons....

The State Statistics Committee published a report on industrial production for the first six months of 2021.

Natural gas production in Uzbekistan in January-June 2021 increased by 4.7%, compared to the same period in 2020 up to 26,308 billion cubic meters.

Meanwhile, oil production decreased by 2.2% – to 350 thousand tons....

23.07.2021

ERIELL Group: Implementation of new technologies for opening reservoirs at Jizzakh Petroleum Facilities

In June 2021, ERIELL Group performed hydraulic fracturing for the first time at the facilities of Jizzakh Petroleum JV in the Fergana region. At the Varyk field, two proppant hydraulic fracturing operations were carried out with a depth of oil reservoir from 3,600 to 3,800 metres.

After hydraulic fracturing at the...

In June 2021, ERIELL Group performed hydraulic fracturing for the first time at the facilities of Jizzakh Petroleum JV in the Fergana region. At the Varyk field, two proppant hydraulic fracturing operations were carried out with a depth of oil reservoir from 3,600 to 3,800 metres.

After hydraulic fracturing at the...

23.07.2021

Uzbekneftegaz posts growth rate of 23.0%

As a result of the effective implementation of the planned activities, the forecast indicators for January-June of this year were fulfilled by 12.7 percent. The growth rates in comparison with the corresponding period of the last year are 23.0%.

As a result of effective measures organized locally by the organizations that...

As a result of the effective implementation of the planned activities, the forecast indicators for January-June of this year were fulfilled by 12.7 percent. The growth rates in comparison with the corresponding period of the last year are 23.0%.

As a result of effective measures organized locally by the organizations that...

23.07.2021

Uzbekneftegaz negotiates linear alkylbenzene project with Honeywell UOP

A project dubbed Organization of production of alkylbenzene for synthetic detergents based on raw materials from the Uzbekneftegaz GTL plant, which is expected to be launched this year, is a promising highly effective project.

A number of technology licensees have expressed interest in joint implementation of the project, including the well-known...

A project dubbed Organization of production of alkylbenzene for synthetic detergents based on raw materials from the Uzbekneftegaz GTL plant, which is expected to be launched this year, is a promising highly effective project.

A number of technology licensees have expressed interest in joint implementation of the project, including the well-known...

23.07.2021

Brent consolidates within $70-$75/b range

Oil prices rose on Thursday, extending strong gains made in previous sessions on expectations of tighter supplies until the end of the year as economies recover from the coronavirus crisis.

Brent crude rose 20 cents, or 0.3%, to $72.43 a barrel at 1335 GMT, after rising 4.2% in the...

Oil prices rose on Thursday, extending strong gains made in previous sessions on expectations of tighter supplies until the end of the year as economies recover from the coronavirus crisis.

Brent crude rose 20 cents, or 0.3%, to $72.43 a barrel at 1335 GMT, after rising 4.2% in the previous session. U.S....

Trade and Consumer Goods

23.07.2021

EAEU needs unified policy to improve quality and competitiveness of goods in foreign markets

The Minister for Technical Regulation of the Eurasian Economic Commission Viktor Nazarenko said this during a seminar for the heads of diplomatic missions of Belarus, which is being held at the Academy of Management under the President of Belarus in Minsk.

Viktor Nazarenko said that today the GDP of the Eurasian...

The Minister for Technical Regulation of the Eurasian Economic Commission Viktor Nazarenko said this during a seminar for the heads of diplomatic missions of Belarus, which is being held at the Academy of Management under the President of Belarus in Minsk.

Viktor Nazarenko said that today the GDP of the Eurasian...

23.07.2021

EAEU and Iran launch negotiations on free trade agreement

Tehran hosted a meeting of negotiating delegations on the conclusion of a free trade agreement between the Eurasian Economic Union and its member states, on the one hand, and the Islamic Republic of Iran, on the other hand, which will replace the Interim Agreement in force since October 2019.

During the...

Tehran hosted a meeting of negotiating delegations on the conclusion of a free trade agreement between the Eurasian Economic Union and its member states, on the one hand, and the Islamic Republic of Iran, on the other hand, which will replace the Interim Agreement in force since October 2019.

During the...

Agriculture

23.07.2021

Uzbekistan proclaims mmeasures on improving the water supply of agricultural lands

On 19 July, President Shavkat Mirziyoyev chaired a meeting on improving the infrastructure of agriculture through the modernization of pumping stations.

There are 1,687 pumping stations in the country. 299 of them have become obsolete, as a result of which 80 thousand hectares of land had gone out of circulation, water...

On 19 July, President Shavkat Mirziyoyev chaired a meeting on improving the infrastructure of agriculture through the modernization of pumping stations.

There are 1,687 pumping stations in the country. 299 of them have become obsolete, as a result of which 80 thousand hectares of land had gone out of circulation, water...

23.07.2021

Bears return to US grain contracts despite weather concerns

Chicago wheat futures retreated more than 2% on Thursday after six straight sessions of gains, although losses were limited by concerns over dry weather curbing yields in top exporters Russia and the United States. Corn and soybeans also slid.

"The weather situation is not good, it has been really hot and dry in...

Chicago wheat futures retreated more than 2% on Thursday after six straight sessions of gains, although losses were limited by concerns over dry weather curbing yields in top exporters Russia and the United States. Corn and soybeans also slid.

"The weather situation is not good, it has been really hot and dry in...

Metals and Minerals

23.07.2021

Samarkand region police detain illegal gold miners

The police of Samarkand region detained a criminal group of six people on suspicion of illegal gold mining.

“In the course of operational measures, six local residents were detained, who illegally mined gold ore,” the Ministry of Internal Affairs said.

It is noted that illegal gold mining was stopped at the open...

The police of Samarkand region detained a criminal group of six people on suspicion of illegal gold mining.

“In the course of operational measures, six local residents were detained, who illegally mined gold ore,” the Ministry of Internal Affairs said.

It is noted that illegal gold mining was stopped at the open...

23.07.2021

Bears stick to bullion on paper markets resilience

Gold prices extended slide to their lowest in nearly two weeks on Thursday on the back of a rebound in stocks and firmer U.S. dollar, while investors looked to the European Central Bank for their stance on policy.

Spot gold fell 0.4% to $1,795.94 per ounce by 1023 GMT. U.S. gold...

Gold prices extended slide to their lowest in nearly two weeks on Thursday on the back of a rebound in stocks and firmer U.S. dollar, while investors looked to the European Central Bank for their stance on policy.

Spot gold fell 0.4% to $1,795.94 per ounce by 1023 GMT. U.S. gold...

23.07.2021

Non-ferrous base metals markets rally

Copper prices advanced on Thursday, as investors appeared to shrug off worries over rising coronavirus cases worldwide and as China, the world’s top metals consumer, decided to release less reserve metals than expected.

Three-month copper on the London Metal Exchange was up 0.4% at $9,381 a tonne, as of 0316 GMT,...

Copper prices advanced on Thursday, as investors appeared to shrug off worries over rising coronavirus cases worldwide and as China, the world’s top metals consumer, decided to release less reserve metals than expected.

Three-month copper on the London Metal Exchange was up 0.4% at $9,381 a tonne, as of 0316 GMT,...

Communications and Transportation

23.07.2021

Afrosiab train departs from St. Petersburg to Uzbekistan

On 30 June this year, a cargo ship with 2 locomotives and 11 wagons from the Spanish port of Bilbao, as well as 4 separate wagons, arrived at the Russian port in St. Petersburg.

Specialists of the Uzbek Railways, together with their Russian colleagues, prepared this train for delivery to Uzbekistan.

On...

On 30 June this year, a cargo ship with 2 locomotives and 11 wagons from the Spanish port of Bilbao, as well as 4 separate wagons, arrived at the Russian port in St. Petersburg.

Specialists of the Uzbek Railways, together with their Russian colleagues, prepared this train for delivery to Uzbekistan.

On...

23.07.2021

Uzbekistanis can get electronic digital signature certificate using personal identification number of individual

The fee is 7% of BCV for individuals and 10% for legal entities.

PINI becomes a single identifier. From July 1, the issuance of IIN to individuals is cancelled, other identifiers are prohibited.

The State Tax Committee reported that legal entities or individuals wishing to obtain an EDS can do it on 

The fee is 7% of BCV for individuals and 10% for legal entities.

PINI becomes a single identifier. From July 1, the issuance of IIN to individuals is cancelled, other identifiers are prohibited.

The State Tax Committee reported that legal entities or individuals wishing to obtain an EDS can do it on e-imzo.uz.

On...

23.07.2021

Uzbekistan Airways tells how to check authenticity of ticket

The airline said that the number of cases of fraud has increased recently. The number of cases of fraud with the purchase of air tickets has increased, Uzbekistan Airways reported.

In this regard, the company recalled that you can buy a ticket on the official website of the company, at the...

The airline said that the number of cases of fraud has increased recently. The number of cases of fraud with the purchase of air tickets has increased, Uzbekistan Airways reported.

In this regard, the company recalled that you can buy a ticket on the official website of the company, at the...

Regional News

23.07.2021

Far Eastern regions of Russia note budget deficit

The expenses of the Far Eastern regions are higher, and the possibilities of forming a revenue base are lower than the average for Russia, ACRA analysts note in their survey Ranking of regions of the Far Eastern Federal District (FEFD) by the level of financial stability. The reason for this...

The expenses of the Far Eastern regions are higher, and the possibilities of forming a revenue base are lower than the average for Russia, ACRA analysts note in their survey Ranking of regions of the Far Eastern Federal District (FEFD) by the level of financial stability. The reason for this...

23.07.2021

Russia’s exports of services outperform imports for the first time

Russia’s foreign trade of services saw a surplus in June 2021. Exports exceeded imports by $126.7 mln, according to the Central Bank’s statistics. Exports reached $4.74 bln, while imports totaled $4.62 bln. The surplus by the end of the month was recorded for the first time in at least four...

Russia’s foreign trade of services saw a surplus in June 2021. Exports exceeded imports by $126.7 mln, according to the Central Bank’s statistics. Exports reached $4.74 bln, while imports totaled $4.62 bln. The surplus by the end of the month was recorded for the first time in at least four...

23.07.2021

Russian rouble remains one of the world’s most undervalued currencies

The Russian rouble is once again one of the most undervalued currencies in the world, according to the Big Mac Index, published by The Economist.

The rating is based on the buying power of global currencies according to the price of a McDonald’s Big Mac burger in different countries.

While the Big...

The Russian rouble is once again one of the most undervalued currencies in the world, according to the Big Mac Index, published by The Economist.

The rating is based on the buying power of global currencies according to the price of a McDonald’s Big Mac burger in different countries.

While the Big...

23.07.2021

China currency, equity remain bullish on hardware, cash sectors

China shares rose on Thursday as gains in financials and materials firms outweighed losses in healthcare stocks, and as foreign investors extended net buying of A-shares through the Stock Connect scheme into a fourth consecutive day.

At the close, the Shanghai Composite index was up 0.34% at 3,574.73. The blue-chip CSI300...

China shares rose on Thursday as gains in financials and materials firms outweighed losses in healthcare stocks, and as foreign investors extended net buying of A-shares through the Stock Connect scheme into a fourth consecutive day.

At the close, the Shanghai Composite index was up 0.34% at 3,574.73. The blue-chip CSI300...

23.07.2021

China's non-financial outbound direct investment down 3.7 pct in H1

China's non-financial outbound direct investment (ODI) decreased 3.7 percent year on year in the first half of this year, official data showed on Thursday.

China's ODI amounted to 348.8 billion yuan during the period. In U.S. dollar terms, ODI increased 4.7 percent to 53.9 billion dollars, according to the Ministry of...

China's non-financial outbound direct investment (ODI) decreased 3.7 percent year on year in the first half of this year, official data showed on Thursday.

China's ODI amounted to 348.8 billion yuan during the period. In U.S. dollar terms, ODI increased 4.7 percent to 53.9 billion dollars, according to the Ministry of...

Prices and Statistics

23.07.2021

Commodities

Date: July 23, 2021; Source: Bloomberg.com

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Date: July 23, 2021; Source: Bloomberg.com

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23.07.2021

Exchange Rates

Date: JuLy 23, 2020; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 10598.66
1 EURO EUR / UZS 12484.16
1 RUSSIAN ROUBLE RUB / UZS 142.23
1 ENGLISH POUND GBP / UZS 14565.74
1 KAZAKHSTAN TENGE KZT / UZS 24.75

Date: JuLy 23, 2020; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

10598.66

1 EURO

EUR / UZS

12484.16

1 RUSSIAN ROUBLE

RUB / UZS

142.23

1 ENGLISH POUND

GBP / UZS

14565.74

1 KAZAKHSTAN TENGE

KZT / UZS

24.75