Issue 1049 - 21.01.2022
21.01.2022

Uzbekistan proceeds with privatisation of state property

On 20 January, President of Uzbekistan Shavkat Mirziyoyev chaired a videoconference on the upcoming work in the privatisation of state property objects this year.

The state of affairs in this sphere and plans for the future were critically considered at the meeting.

Two thousand inefficiently used objects were identified following the inventory in industries and regions carried out on behalf of the Head of the state.

In particular, there are 210 in the oil and gas industry, 152 in the communications sector, 114 in state commercial banks, 44 in the chemical industry, and 28 objects to be sold in the energy industry. There are about 170 empty objects that have not been sold for years on the balance of the regional administrations.

At the meeting, instruction was given to take disciplinary measures against officials who committed shortcomings in this direction, some were dismissed from their posts.

It was noted that it is necessary to intensify and double the effectiveness of work in the current year.

For example, due to the privatisation of facilities in the regions and non-agricultural lands, over 8 trillion UZS can be received by the end of the year.

The need for continuing the inventory was also emphasized. The personal responsibility of regional administrators and industry managers for identifying and putting up non-core, inefficient and unused assets for public auction was noted.

The task was set to realize 33 thousand land plots with ownership rights previously put up for auction, as well as to put up for auction another 25 thousand plots by July 1.

It was noted at the meeting that 266 enterprises of the road, transport, oil and gas, energy and automotive industries are also subject to auction.

“Many industry managers still use non-core enterprises inefficiently. In large industries, the state share in 480 enterprises can be fully transferred to the private sector”, Shavkat Mirziyoyev said.

In this regard, the Prime Minister was instructed to conduct a full inventory of the relevant facilities in Uzavtosanoat, Uzbekistan Railways, Uzbekneftegaz, Hududiy Elektr Tarmoqlari and other industries, as well as to make proposals for their privatization.

The importance of attracting potential investors to such large complexes as Ferganaazot, Bektemir Alcohol Factory, Qo’qon Biokimyo, Dehkanabad Potash Plant, Quartz, Hyatt was emphasised. Instructions were given on the initial placement of shares of 23 joint-stock companies on the stock market.

One of the ways to use idle buildings is to rent them out. Opportunities in this direction were noted at the meeting. Leasing of state property in regions and industries can provide revenues for 500 billion UZS this year.

It was determined that from now on an object that has not been used for more than three months is subject to a lease or put up for sale. The Agency of State Assets has been instructed to establish a system of transparent registration and online control over the implementation of lease agreements for the property of enterprises with a state share.

Based on the tasks set at the meeting, the privatisation program for 2022 will be approved in the context of regions and industries.

Reported by the Uzbekistan Daily.

Uzbekistan General

21.01.2022

Presidents of Uzbekistan, Kazakhstan discuss issues of further strengthening strategic partnership and alliance

On 20 January, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a telephone conversation with the President of the Republic of Kazakhstan Kassym-Jomart Tokayev.

Presidents considered the current aspects of the bilateral agenda and regional interaction.

The current dynamics of the development of political relations between Uzbekistan and Kazakhstan, the increase...

On 20 January, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a telephone conversation with the President of the Republic of Kazakhstan Kassym-Jomart Tokayev.

Presidents considered the current aspects of the bilateral agenda and regional interaction.

The current dynamics of the development of political relations between Uzbekistan and Kazakhstan, the increase...

21.01.2022

Uzbek, Turkmen Presidents call for further deepening multifaceted cooperation

On 20 January, President of the Republic of Uzbekistan Shavkat Mirziyoyev had a telephone conversation with the President of Turkmenistan Gurbanguly Berdimuhamedov.

Current issues of strengthening friendship, good neighborliness and strategic partnership between Uzbekistan and Turkmenistan in the context of implementing agreements at the highest level were considered in detail.

The successful...

On 20 January, President of the Republic of Uzbekistan Shavkat Mirziyoyev had a telephone conversation with the President of Turkmenistan Gurbanguly Berdimuhamedov.

Current issues of strengthening friendship, good neighborliness and strategic partnership between Uzbekistan and Turkmenistan in the context of implementing agreements at the highest level were considered in detail.

The successful...

21.01.2022

Deserts of Uzbekistan declared protected areas

An office of the Interim Regional Central Asian Desert Initiative Secretariat opened in Tashkent.

Sultry and endless deserts of Uzbekistan are important biodiversity hotspots. It features unique habitats, breeding grounds, migration corridors and flyways for many rare and endangered animal species. The CADI (Central Asian Desert Initiative) aims to preserve and sustainably...

An office of the Interim Regional Central Asian Desert Initiative Secretariat opened in Tashkent.

Sultry and endless deserts of Uzbekistan are important biodiversity hotspots. It features unique habitats, breeding grounds, migration corridors and flyways for many rare and endangered animal species. The CADI (Central Asian Desert Initiative) aims to preserve and sustainably...

Finance and Investment

21.01.2022

Central Bank of Uzbekistan plans to issue 200,000 banknotes

Uzbekistan is expected to issue a banknote with a face value of 200,000 soum in 2024. This was announced at a press conference on Thursday by the Chairman of the Central Bank Mamarizo Nurmuratov.

“As part of a single system, we have begun issuing a second series of well-protected banknotes. Now...

Uzbekistan is expected to issue a banknote with a face value of 200,000 soum in 2024. This was announced at a press conference on Thursday by the Chairman of the Central Bank Mamarizo Nurmuratov.

“As part of a single system, we have begun issuing a second series of well-protected banknotes. Now...

21.01.2022

Uzbekistan improves business climate through 2021

In 2021, all indicators of business climate remained high. The average annual consolidated indicator in 2021 was 60 points, which is higher by 18 points than in 2020.

The relaxation of quarantine restrictions and the large-scale measures taken by the Government to support the economy, including a number of measures by...

In 2021, all indicators of business climate remained high. The average annual consolidated indicator in 2021 was 60 points, which is higher by 18 points than in 2020.

The relaxation of quarantine restrictions and the large-scale measures taken by the Government to support the economy, including a number of measures by...

21.01.2022

Uzbekistan’s growth rate of investment in fixed assets makes up 5.2% in 2021

In January-December 2021, compared to the corresponding period in 2020, there was an increase in investment activity, the growth rate of development of investments in fixed assets amounted to 5.2%.

In January-December 2021, 245.0 trillion soum of investments in fixed capital were disbursed, of which 61.9%, or 151.5 trillion soum, financed...

In January-December 2021, compared to the corresponding period in 2020, there was an increase in investment activity, the growth rate of development of investments in fixed assets amounted to 5.2%.

In January-December 2021, 245.0 trillion soum of investments in fixed capital were disbursed, of which 61.9%, or 151.5 trillion soum, financed...

21.01.2022

Board of the Central Bank of Uzbekistan sums up results of past year

The press centre of the Central Bank of Uzbekistan published a decision taken at the meeting of the board held on January 20 to keep the current main rate unchanged.

In order to achieve previously predicted inflation rates and maintain monetary conditions, the main rate of the Central Bank remains at...

The press centre of the Central Bank of Uzbekistan published a decision taken at the meeting of the board held on January 20 to keep the current main rate unchanged.

In order to achieve previously predicted inflation rates and maintain monetary conditions, the main rate of the Central Bank remains at...

21.01.2022

Money in accounts of population in banks of Uzbekistan increase 1.7 times on-year

In 2021, the volume of term deposits in the national currency increased by one and a half times, and household deposits in soum by 1.7 times, follows from the report of the Central Bank.

The regulator also noted an almost two-fold increase in interbank activity over the same period. In addition,...

In 2021, the volume of term deposits in the national currency increased by one and a half times, and household deposits in soum by 1.7 times, follows from the report of the Central Bank.

The regulator also noted an almost two-fold increase in interbank activity over the same period. In addition,...

21.01.2022

Uzbek soum depreciates by only 3.4% in 2021

The devaluation of the exchange rate of the sum has reached a minimum in recent years, follows from the report of the Central Bank.

In 2021, the national currency depreciated by 3.4%, the minimum since 2019, the regulator emphasises in the message. For comparison, in 2020, the sum fell by 10.1%.

The...

The devaluation of the exchange rate of the sum has reached a minimum in recent years, follows from the report of the Central Bank.

In 2021, the national currency depreciated by 3.4%, the minimum since 2019, the regulator emphasises in the message. For comparison, in 2020, the sum fell by 10.1%.

The...

21.01.2022

Uzbekistan asserts risks for the country's economy

The policy rate of the Central bank was left unchanged at the level of 14 percent per annum, in order to achieve inflation forecasts for the current year, to maintain monetary conditions that slow prices and support savings, at the background of high economic growth dynamics (Public relations service...

The policy rate of the Central bank was left unchanged at the level of 14 percent per annum, in order to achieve inflation forecasts for the current year, to maintain monetary conditions that slow prices and support savings, at the background of high economic growth dynamics (Public relations service CB)

On the one...

21.01.2022

Greenback loses ground on rivals’ gains

The dollar dipped on Thursday as this week's rally in U.S. Treasury yields paused, while the Canadian and Australian dollars gained on the back of rising commodity prices and optimism about economic growth.

The euro and sterling rose after suffering their worst days in a month on Tuesday when...

The dollar dipped on Thursday as this week's rally in U.S. Treasury yields paused, while the Canadian and Australian dollars gained on the back of rising commodity prices and optimism about economic growth.

The euro and sterling rose after suffering their worst days in a month on Tuesday when the dollar...

21.01.2022

Stock markets mixed as variety of trends enter arenas

European stocks were still lower at midday on Thursday as investors fretted about inflationary pressures.

The pan-European Stoxx 600 was down 0.17 after starting the session higher, driven by a positive close on Asian markets.

Inflation worries continue to put a brake on equities with investors eyeing the...

European stocks were still lower at midday on Thursday as investors fretted about inflationary pressures.

The pan-European Stoxx 600 was down 0.17 after starting the session higher, driven by a positive close on Asian markets.

Inflation worries continue to put a brake on equities with investors eyeing the potential path and pace of US...

Oil and Gas Sector

21.01.2022

Bukhara oil refinery posts record output in 24 years

Uzbekneftegaz is carrying out purposeful work to develop the oil and gas industry by attracting modern advanced innovative technologies, high-performance equipment, new materials, including new catalysts, large investment projects to oil refineries.

As a result of the efforts made, in the shortest possible time, the enterprises of Uzbekneftegaz JSC implemented the...

Uzbekneftegaz is carrying out purposeful work to develop the oil and gas industry by attracting modern advanced innovative technologies, high-performance equipment, new materials, including new catalysts, large investment projects to oil refineries.

As a result of the efforts made, in the shortest possible time, the enterprises of Uzbekneftegaz JSC implemented the...

21.01.2022

Uzbekistan processes 4.174 billion cubic metre of natural gas in 2021

As a result of the timely implementation of the measures taken by Uzbekneftegaz \ for the production and processing of oil and gas in the past 2021, the planned targets were exceeded.

In particular, over the past year, the Shurtan gas chemical complex carried out deep processing of 4.174 billion cubic...

As a result of the timely implementation of the measures taken by Uzbekneftegaz \ for the production and processing of oil and gas in the past 2021, the planned targets were exceeded.

In particular, over the past year, the Shurtan gas chemical complex carried out deep processing of 4.174 billion cubic...

21.01.2022

Brent dips below $88/b on relief for short-term needs

Oil prices slipped back on Thursday after hitting their highest levels since 2014 in the previous session on the back of strong demand and short-term supply disruptions, underlying factors that limited losses as investors took profits.

Brent crude futures dropped 72 cents, or 0.81%, to $87.72 a barrel, as...

Oil prices slipped back on Thursday after hitting their highest levels since 2014 in the previous session on the back of strong demand and short-term supply disruptions, underlying factors that limited losses as investors took profits.

Brent crude futures dropped 72 cents, or 0.81%, to $87.72 a barrel, as of 0152...

21.01.2022

Bears keep hold on Eurasian natural gas benchmarks

British and Dutch gas prices fell on Thursday morning on strong supplies of Norwegian gas and liquefied natural gas (LNG) and with temperatures set to rise.

The British contract for day-ahead delivery was down by 7.00 pence to 173.00 pence per therm at 1003 GMT.

The Dutch equivalent day-ahead contract...

British and Dutch gas prices fell on Thursday morning on strong supplies of Norwegian gas and liquefied natural gas (LNG) and with temperatures set to rise.

The British contract for day-ahead delivery was down by 7.00 pence to 173.00 pence per therm at 1003 GMT.

The Dutch equivalent day-ahead contract fell by...

Agriculture

21.01.2022

Cotton-textile clusters being created in Uzbekistan’s Navoi region

In order to ensure the implementation of the resolution of the Cabinet of Ministers of the Republic of Uzbekistan on approval of the regulation on the procedure for organizing the activities of cotton-textile clusters, cotton-textile clusters are created in the Navoi region.

The following cotton clusters are created:

a total of 3,880...

In order to ensure the implementation of the resolution of the Cabinet of Ministers of the Republic of Uzbekistan on approval of the regulation on the procedure for organizing the activities of cotton-textile clusters, cotton-textile clusters are created in the Navoi region.

The following cotton clusters are created:

a total of 3,880...

21.01.2022

Uzbekistan imports record volume of oranges in 2021 over five years

According to EastFruit analysts, Uzbekistan imported 7.9 thousand tons of orange in 2021, which is 2.1 times more than in 2020 and 55% more than in 2019. However, the absolute values of the volume of imports, as well as the per capita consumption of this product in the country, remain...

According to EastFruit analysts, Uzbekistan imported 7.9 thousand tons of orange in 2021, which is 2.1 times more than in 2020 and 55% more than in 2019. However, the absolute values of the volume of imports, as well as the per capita consumption of this product in the country, remain...

21.01.2022

US wheat, maize contracts depreciate, FSU sabre rattling pointed at

Chicago soybean futures edged higher on Thursday to a one-week high, as doubts over South American crop prospects and signs of strong demand helped the oilseed market recover from losses earlier in the week.

Corn and wheat eased after rallying to three-week highs as traders assessed South American weather...

Chicago soybean futures edged higher on Thursday to a one-week high, as doubts over South American crop prospects and signs of strong demand helped the oilseed market recover from losses earlier in the week.

Corn and wheat eased after rallying to three-week highs as traders assessed South American weather and ongoing...

Metals and Minerals

21.01.2022

Bullion flat with peers on the rise

Gold prices held near two-month highs on Thursday as a retreat in U.S. Treasury yields and the dollar sparked investor interest, with concerns surrounding inflation and geopolitics lending support.

Spot gold eased 0.2% to $1,836.80 per ounce by 1102 GMT, after scaling its highest since Nov. 22 at $1,843.94....

Gold prices held near two-month highs on Thursday as a retreat in U.S. Treasury yields and the dollar sparked investor interest, with concerns surrounding inflation and geopolitics lending support.

Spot gold eased 0.2% to $1,836.80 per ounce by 1102 GMT, after scaling its highest since Nov. 22 at $1,843.94. U.S. gold...

21.01.2022

Non-ferrous metals remain on winning end with supplies further down

Low inventories propelled prices for nickel to 11-1/2 year highs on Thursday, with future demand expected to rocket thanks to higher electric vehicle battery consumption.

Benchmark three-month nickel on the London Metal Exchange (LME) climbed 1.1% to $23,375 per tonne, its highest since August 2011.

The most-traded February nickel contract on...

Low inventories propelled prices for nickel to 11-1/2 year highs on Thursday, with future demand expected to rocket thanks to higher electric vehicle battery consumption.

Benchmark three-month nickel on the London Metal Exchange (LME) climbed 1.1% to $23,375 per tonne, its highest since August 2011.

The most-traded February nickel contract on the Shanghai...

Manufacturing industry

21.01.2022

Chinese company shows interest in implementing projects in chemical and metallurgical industries in Uzbekistan

The representative office of the Ministry of Investment and Foreign Trade of Uzbekistan at the Embassy of Uzbekistan in China held a meeting with the President of the company China CAMC Engineering Co., LTD. (CAMCE) Li Haixing and Vice Chairman of the China Chamber of Commerce and Industry for Import...

The representative office of the Ministry of Investment and Foreign Trade of Uzbekistan at the Embassy of Uzbekistan in China held a meeting with the President of the company China CAMC Engineering Co., LTD. (CAMCE) Li Haixing and Vice Chairman of the China Chamber of Commerce and Industry for Import...

21.01.2022

Uzbek auto industry hit by global rise in transportation prices

Official statistics recorded that the auto industry of Uzbekistan in 2021 worked with a minus sign in many positions.

It can be seen from the published data that last year, automotive industry enterprises produced 236,667 cars (43,413 cars compared to 2020. The production of trucks decreased by 185 units to 3979,...

Official statistics recorded that the auto industry of Uzbekistan in 2021 worked with a minus sign in many positions.

It can be seen from the published data that last year, automotive industry enterprises produced 236,667 cars (43,413 cars compared to 2020. The production of trucks decreased by 185 units to 3979,...

21.01.2022

Uzbekistan launches production of drones

In Uzbekistan, on the basis of modern technologies, they began to produce unmanned aerial vehicles, the press service of the State Committee for the Defence Industry of the Republic reported.

It is noted that the Scientific and Production Centre for Unmanned Aerial Systems was created under the committee. The centre has...

In Uzbekistan, on the basis of modern technologies, they began to produce unmanned aerial vehicles, the press service of the State Committee for the Defence Industry of the Republic reported.

It is noted that the Scientific and Production Centre for Unmanned Aerial Systems was created under the committee. The centre has...

21.01.2022

Uzbekistan, Japan establish new vectors of partnership in leather and footwear industry

A meeting with a delegation of entrepreneurs from the city of Nagoya (Japan) was held at the Uzcharmsanoat Association with the assistance of the Ministry of Foreign Affairs of the Republic of Uzbekistan and the Tashkent-Nagoya Friendship Association. The focus is on the establishment of investment cooperation and the implementation...

A meeting with a delegation of entrepreneurs from the city of Nagoya (Japan) was held at the Uzcharmsanoat Association with the assistance of the Ministry of Foreign Affairs of the Republic of Uzbekistan and the Tashkent-Nagoya Friendship Association. The focus is on the establishment of investment cooperation and the implementation...

Communications and Transportation

21.01.2022

95% of settlements in Uzbekistan covered by mobile Internet

95% of settlements in Uzbekistan are covered by mobile Internet, Deputy Director-General of Uzbektelecom Alisher Zufarov said at a briefing.

According to him, 54% of households are connected to high-speed Internet, and in the near future, the figure will reach at least 80%.

Zufarov noted that 50,000 km of fiber optic lines...

95% of settlements in Uzbekistan are covered by mobile Internet, Deputy Director-General of Uzbektelecom Alisher Zufarov said at a briefing.

According to him, 54% of households are connected to high-speed Internet, and in the near future, the figure will reach at least 80%.

Zufarov noted that 50,000 km of fiber optic lines...

Regional News

21.01.2022

Industrial production in EAEU reaches $1.2 trillion in 11 months of 2021

In January-November 2021, industrial production amounted to $1.2 trillion and grew by more than 5% compared to the same period in 2020. Belarus (6.7%) and Russia (5.2%) showed the highest growth.

According to the results of 11 months, there is also a positive trend in the commissioning of housing (growth by...

In January-November 2021, industrial production amounted to $1.2 trillion and grew by more than 5% compared to the same period in 2020. Belarus (6.7%) and Russia (5.2%) showed the highest growth.

According to the results of 11 months, there is also a positive trend in the commissioning of housing (growth by...

21.01.2022

GDP growth of EAEU countries in 2022 may reach 3.1%

The growth of the economies of the countries of the Eurasian Economic Union (EAEU) in 2022 will be 3.1%, the Eurasian Economic Commission (EEC) predicts. “Although the economies of the EAEU were quite actively recovering last year and reached the pre-pandemic level, this year the experts of the commission predict...

The growth of the economies of the countries of the Eurasian Economic Union (EAEU) in 2022 will be 3.1%, the Eurasian Economic Commission (EEC) predicts. “Although the economies of the EAEU were quite actively recovering last year and reached the pre-pandemic level, this year the experts of the commission predict...

21.01.2022

Bankruptcy in Russia remains on horizon

The indicator of the intensity of bankruptcies of companies in Russia in 2021 remained below the pre-pandemic level. The fears of market participants about a wave of insolvency cases after the lifting of the moratorium on bankruptcy did not come true. This follows from the monitoring of corporate bankruptcies by...

The indicator of the intensity of bankruptcies of companies in Russia in 2021 remained below the pre-pandemic level. The fears of market participants about a wave of insolvency cases after the lifting of the moratorium on bankruptcy did not come true. This follows from the monitoring of corporate bankruptcies by...

21.01.2022

Russian stocks hold positions as rouble retreats

The Russian rouble retreated from 76 versus the dollar on Thursday, but clung onto some gains after recovering in the previous session, while Russian stocks steadied with investors still focused on geopolitics.

By 0851 GMT, the rouble was 0.7% weaker against the dollar at 76.71 and had lost 0.7%...

The Russian rouble retreated from 76 versus the dollar on Thursday, but clung onto some gains after recovering in the previous session, while Russian stocks steadied with investors still focused on geopolitics.

By 0851 GMT, the rouble was 0.7% weaker against the dollar at 76.71 and had lost 0.7% to trade...

21.01.2022

Bulls return to China stock markets

China's blue-chip stocks closed higher on Thursday after a set of key policy rates and lending benchmarks were cut to prop up a slowing economy, with investors pinning hopes on further easing in policies by Beijing.

The CSI300 index ended 0.9% higher at 4,823.51, while the Shanghai Composite Index...

China's blue-chip stocks closed higher on Thursday after a set of key policy rates and lending benchmarks were cut to prop up a slowing economy, with investors pinning hopes on further easing in policies by Beijing.

The CSI300 index ended 0.9% higher at 4,823.51, while the Shanghai Composite Index edged down...

21.01.2022

Yuan rises in ranks of top global currencies

The yuan has now firmly placed itself among the world’s top five most popular currencies for cross-border payments, securing the fourth spot for the first time in six years. 

When the Society for Worldwide Interbank Financial Telecommunications (SWIFT) started tracking cross-border payment messages in 2010, the yuan ranked only...

The yuan has now firmly placed itself among the world’s top five most popular currencies for cross-border payments, securing the fourth spot for the first time in six years. 

When the Society for Worldwide Interbank Financial Telecommunications (SWIFT) started tracking cross-border payment messages in 2010, the yuan ranked only 35th.

The Chinese...

21.01.2022

China cuts benchmark lending rate to bolster economy

Just days after China cut a major interest rate for central bank lending to big commercial banks, and hours after central bank officials delivered a clear signal about monetary easing through promises of opening the monetary policy toolbox wider, the country took one further step toward capital easing...

Just days after China cut a major interest rate for central bank lending to big commercial banks, and hours after central bank officials delivered a clear signal about monetary easing through promises of opening the monetary policy toolbox wider, the country took one further step toward capital easing by cutting...

Prices and Statistics

21.01.2022

Commodities

Date: January 21, 2022; Source: Bloomberg.com

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Date: January 21, 2022; Source: Bloomberg.com

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21.01.2022

Exchange Rates

Date: January 21, 2022; Source: the Central Bank of Uzbekistan
1 US DOLLAR USD / UZS 10835.07
1 EURO EUR / UZS 12295.64
1 RUSSIAN ROUBLE RUB / UZS 141.54
1 GREAT BRITIAN POUND GBP / UZS 14766.03
1 KAZAKHSTAN TENGE KZT / UZS 24.85

Date: January 21, 2022; Source: the Central Bank of Uzbekistan

1 US DOLLAR

USD / UZS

10835.07

1 EURO

EUR / UZS

12295.64

1 RUSSIAN ROUBLE

RUB / UZS

141.54

1 GREAT BRITIAN POUND

GBP / UZS

14766.03

1 KAZAKHSTAN TENGE

KZT / UZS

24.85