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Uzbekistan Economy | Iqtisod

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#1 ·
In this thread i offer discussion economy of Uzbekistan
 
#137 ·
Uzbekistan plans to attract Qatar Petroleum to GTL project



The Government of Uzbekistan is planning to attract Qatar Petroleum to the project on production of synthetic fuel (gas to liquid process, GTL) in Kashkadarya region in southern Uzbekistan, RIA Novosti reported quoting source in the Uzbek government.
The source said that the schedule of negotiations with Qatar Petroleum was developed and the results of the talks will be known in May. He added that the technological participation of Japan’s JOGMEC in the project and participation of equity capital.

Uzbekneftegaz, Petronas and Sasol Synfuels International (PTY) Limited signed charter and constituent agreement of joint venture Uzbekistan GTL in November 2009. Currently Sasol and Uzbekneftegaz hold 44.5% stake in the project, while Petronas – 11%.

In summer 2013, Sasol decided to cut its share in the project up to 25.5% to the beginning of the plant construction. Other part of stakes can be distributed among other stakeholders or new participant of the venture.

The plant will process 3.5 billion cubic meters of gas and produce 863,000 tonnes of diesel fuel, 304,000 tonnes of aviation kerosene, 395,000 tonnes of naphtha and 11,200 tonnes of liquefied gas. Hyundai Engineering & Construction (South Korea) will construct the technological part of the plant.

It is planned to complete construction of the plant by August 2017. Currently, the Uzbek side is constructing infrastructure of main objects.

The project with the cost of US$5.6 billion will be financed due to own resources of the venture’s founders, consortium of banks and financial institutions, which issue loans on project financing terms.

http://www.uzdaily.com/articles-id-27302.htm
 
#138 ·
Orient Finans Bank to place shares for 19.5 bn soums



Private closed joint stock commercial bank Orien Finans will place shares for 19.5 billion sums.
The Center for coordination and development of securities market registered a prospectus of emission of the Orient Finans Bank.

According to the bank, it will place 10,000 shares with par value of 1.95 million soums on closed subscription. Total sum of the issue makes up 19.5 billion soums.

http://www.uzdaily.com/articles-id-27315.htm
 
#139 ·
Assets of Asia Alliance bank reach 1.113 trillion soums in 2013



Assets of open joint stock commercial bank Asia Alliance Bank made up 1.113 trillion soums as of 31 December 2013, which grew by 300 billion soums compared to the same period of 2012.
The liabilities of the bank reached 1.017 trillion soums as of the beginning of 2014, which rose by 58.12% compared to the beginning of 2013.

The deposits of Asia Alliance Bank made up 935.91 billion soums as of 31 December 2013 compared to 619.232 billion soums as of 31 December 2012.

Own capital of Asia Alliance Bank made up 96.117 billion soums as of the beginning of 2014 against 62.51 billion soums as of the beginning of 2013.

As of 31 December 2013, the liabilities and own capital of Asia Alliance Bank exceeded 1.113 trillion soums against 705.258 billion soums as of 31 December 2012.

The bank’s net income made up 41.605 billion soums in 2013 compared to 27.339 billion soums in 2012.

The bank’s charter was 75.278 billion soums as of the end of 2013 compared to 50.85 billion soums as of the end of 2012. The equity capital rose from 51.538 billion soums in 2012 to 76.703 billion soums in 2013.

Asia Alliance Bank said its undistributed income as of the beginning of 2014 exceeded 19.413 billion soums compared to 10.512 billion osums in the beginning of 2013.

http://www.uzdaily.com/articles-id-27337.htm
 
#140 ·
Amirbank Ratings Suspended On Lack Of Timely Information



Standard & Poor’s Ratings Services suspended its ‘CCC’ long-term and ‘C’ short-term counterparty credit ratings on Uzbekistan-based Amirbank. The outlook at the time of suspension was stable.
The rating suspension reflects Standard & Poor’s lack of receipt of timely information that it considers of satisfactory quality from the issuer, in accordance with its applicable criteria and policies. In particular, we have not received the bank’s recent financial statements or any other information related to the bank’s current or prospective activities.

“We may reinstate the ratings on Amirbank after the receipt and analysis of the information that we need to maintain the ratings, and if we believe such information will be supplied on an ongoing basis. If we do not receive sufficient and reliable information to maintain the ratings in the next three months, we will withdraw the ratings,” the agency said.

http://www.uzdaily.com/articles-id-27337.htm
 
#141 ·
Moody’s: Uzbekistan’s banking system outlook remains stable



The outlook for Uzbekistan’s banking system remains stable, says Moody’s Investors Service in a new report published today. The outlook is underpinned by the country’s persistently strong economic growth, as banks channel high levels of investment from the cash-rich central government into the economy.
Other key drivers include Uzbek banks’ robust earnings which generate capital to fund some of their loan growth. In addition, Moody’s leading asset-quality indicators suggest stable trends for problem loans.

Uzbekistan has achieved a decade of annual growth exceeding 6%, with the International Monetary Fund (IMF) forecasting real GDP growth of 7.0% in 2014. The rating agency highlights that economic growth has been much less volatile than in some other members of the Commonwealth of Independent States (CIS), as Uzbekistan’s commodity exports are relatively diversified, and the government uses export revenues to fund public spending.

Moody’s notes positively the stability of commodity prices (cotton, natural gas and wheat) that represent the rating agency’s leading indicators for asset quality in Uzbekistan, and based on historical correlations, capital-investment trends also bode well for asset quality. The rating agency expects the average ratio of problem loans to total gross loans to remain in the range of 6%-7% in the next 12 to 18 months. However, loan-loss reserves (as per IFRS) set aside by Uzbek banks have historically covered only around 50% of problem loans, which Moody’s regards as insufficient.

Under Moody’s central scenario assuming more prudent provisioning charges and 20% loan growth, rated banks’ Basel I capital adequacy ratio (CAR) would fall to 11.6% during the next 12-18 months, from the rating agency’s estimate of 13.9% as of year-end 2013. While this outcome would still result in an acceptable level of capital, Moody’s believes that in order to preserve the current statutory total CAR levels in line with loan growth, rated banks would need -- in aggregate -- to raise an additional $250 million of new capital in 2014-15.

Over the 12-18 month outlook period, Uzbek banks will be exposed to risks associated with rapid loan growth that will, in turn, reduce capital buffers in the system. In addition, Uzbekistan’s banking system is vulnerable to structural weaknesses such as underdeveloped corporate governance and a high degree of state intervention in banks’ business activities and pricing policies. Uzbek banks also have high borrower concentrations, and short-term corporate deposits account for the majority of customer funding.

Uzbek banks’ operating profits are among the highest in the CIS aided by robust fees and commissions which contribute close to 40% of operating revenues. Over the outlook horizon, Moody’s expects Uzbek banks’ profitability to remain stable thanks to continued strong economic growth, with return on average assets remaining around 1.5% and return on average equity in the range of 13% to 15%.

Moody’s expects Uzbek banks’ liquidity to remain stable over the outlook horizon. Liquid assets, mostly cash held at the central bank, accounted for more than 30% of total assets as of the end of 2013. The high loan-to-deposit ratio, at 140% as of the end of 2013, reflects the composition of funding in the system; corporate and retail deposits only comprised about 60% of Uzbek banks’ non-equity funding as at year-end 2013, while stable financing from the Uzbek government amounted to about 20% and funding from international financial institutions around 10%.

Any uplift to Uzbek banks’ ratings from systemic support is limited, reflecting the government’s history of providing support that is not always full and timely and tends to be biased towards liquidity assistance. If support to banks’ capital is required, the government often opts for regulatory forbearance.

http://www.uzdaily.com/articles-id-27401.htm
 
#142 ·
Oil and Gas Uzbekistan to be held in mid-May



The 18th International Oil and Gas Uzbekistan 2014 exhibition will take place from 13 to 15 May 2014 at the Uzexpocentre in Tashkent.
OGU is officially recognised as the most important and best-attended oil and gas exhibition in Uzbekistan. Today, it is an important event for the whole Central Asian region, which has a direct influence on the development of the fuel and energy complex of Uzbekistan and the furthering of international cooperation in this sector.

The OGU exhibition and conference gather thousands of representatives of national and international companies from 45 countries to discuss issues in the development of the Oil and Gas industry every year.

According to organizers, 150 companies will participate in the exhibition and among them such companies as LUKOIL, Sharjah Oxygen, CGG, Dressta, Confind и Solar Turbines, Jumo, MAN, Kanex и Samson, Beijing Tianhai Industry Co.,Ltd, BGP Inc. and others.

ITE Uzbekistan, which is the organizer of the exhibition and conference, said that the first day of the event will be dedicated to LUKOIL.

On 14 May, the international conference on oil and gas will open its work, which is expected will be attended by over 200 delegates.

During two days, the participants will consider important aspects of development of oil and gas sector development, market reviews, processing of oil and gas, cooperation in oil and gas sector, etc.

At the exhibition, Uzbekneftegaz is planning to hold negotiations with OGU participants.

OGU is part of s series of specialised exhibitions and conferences including: MIOGE (Russia - Moscow), KIOGE (Kazakhstan - Almaty), Caspian Oil & Gas (Azerbaijan - Baku), TUROGE (Turkey - Ankara), OGT (Turkmenistan - Ashgabat), GIOGE (Georgia – Tbilisi) and others.

http://www.uzdaily.com/articles-id-27407.htm
 
#143 ·
INGO-Uzbekistan receives insurance premiums for 5.7bn soums in 1Q

INGO-Uzbekistan summed up results of the first quarter of 2014. The company collected insurance premiums over 5.7 billion soums in January-March 2014, which grew 2.8 times year-on-year.
The growth of collection of insurance premiums were achieved due to insurance of construction-assembly risks, voluntary property insurance, complex insurance of automobiles, personal insurance, etc.

INGO-Uzbekistan said that it recorded significant growth in the regions of Uzbekistan. The insurance volumes, collected in the regions, rose 1.6 times year-on-year in the first quarter of 2014.

The volume of payouts made up 575 million soums in January-March 2014, which rose by 12 million soums year-on-year. The main party of insurance payouts were paid on voluntary personal insurance, automobile insurance and cargo insurance.

Total volume of formed insurance reserves made up 9.2 billion soums as of the end of the first quarter of 2014, which rose by 2.4 times year-on-year.

Total volume of investments of INGO-Uzbekistan into economy of Uzbekistan rose by 29% year-on-year in the first quarter of 2014 to 14.4 billion soums.

The assets of INGO-Uzbekistan reached 18.1 billion soums as of the end of the first quarter of 2014. The growth rate made up 31.2% year-on-year.

INGO-Uzbekistan is one of the largest insurance companies of Uzbekistan with foreign capital. Its charter capital makes up 7.6 billion soums (3.49 million euros in equivalent).

The founders of the company are InVestPolis (subsidiary of Ingosstrakh) – 90%, Bukhara Oil Refinery – 5% and Uzbekistan Havo Yollari – 5%.

http://www.uzdaily.com/articles-id-27473.htm
 
#144 ·
Building materials production in Uzbekistan increase by 14%


Building materials production in Uzbekistan increase by 14% - Uzbekistan News
In January-March 2014, Uzbekistan’s construction materials industry enterprises output reached 989.4 billion soums, which is by 14% more than in the corresponding period last year. The industry’s share of the total output was 6.1%, according to the information service of the Uzbek Statistics Committee.

Uzbekistan’s large industrial enterprises increased production of glazed ceramic plates for ovens, floors and walls, paving plates by 1.9 times, prefabricated construction elements and other products for buildings and structures of cement, concrete or artificial stone – by 1.6 times, building bricks and blocks of cement, concrete and artificial stone - by 1.3 times, mortars and mixes - by 1.3 times.

Also there was an increase in manufacture of such products as soft roofing materials and insulation - by 1.7 times , construction dry mixes - by 1.5 times, sandwich panels - 1.4 times, ceramic tiles for interior wall facing – by 1.3 times, gypsum – by 1.3 times, prefabricated concrete structures - by 5.8%, cement – by 3.1%.

Along with the listed materials, large enterprises in the industry also increased production of cement clinkers (by 13.5%), gypsum (12.3%), gravel (5.7%) and portland cement (4.3%).

http://news.uzreport.uz/news_4_e_118930.html
 
#145 ·
Uzbek-Spanish Business Forum, featuring business circles of the two countries, was held on March 22 in Tashkent, as part of the visit to Uzbekistan of the Minister of Foreign Affairs of the Kingdom of Spain Jose Manuel Garcia-Margallo.



During the event, participants were familiarized with the main areas of economic development and industrial policy of Uzbekistan, as well as promising areas of trade, economic and investment cooperation between Uzbekistan and Spain.

As remarked the Minister of Foreign Economic Relations, Investments and Trade Elyor Ganiev, Spain is Uzbekistan’s important trade partner in the EU. Effective legal framework has been established between the two countries for the development of multilateral relations.

In particular, a number of agreements were signed during the January 2003 state visit of the President of Uzbekistan to Spain, namely, an intergovernmental agreement "On Promotion and Reciprocal Protection of Investments between the Republic of Uzbekistan and the Kingdom of Spain" and Memorandum of Understanding between the Ministry of Economy of the Republic of Uzbekistan and the Ministry of Economic Affairs of the Kingdom of Spain, the Memorandum between UzbekTourism and the Ministry of Industry, Tourism and Trade of Spain on cooperation in tourism and Intergovernmental Convention on avoidance of double taxation and prevention of tax evasion on income and capital.

Preferential treatment established between the two countries in trade in line with the "Agreement on Partnership and Cooperation between the Republic of Uzbekistan and the European Union" dated 1996.

In 2013 the trade turnover between Uzbekistan and the Kingdom of Spain reached 38.9 million dollars.

Currently in Uzbekistan there are 12 enterprises with the Spanish capital, including 6 enterprises with 100% foreign capital. Three Spanish companies are accredited at the Ministry of Foreign Economic Relations, Investments and Trade of the Republic of Uzbekistan.

In turn, the Spanish Foreign Minister briefed the participants of the Business Forum on the state of the current economy of the European Union, the geostrategic position of Spain and spoke about the prospects of further development of economic relations between Uzbekistan and Spain.

http://economics.uzreport.uz/news_e_118982.html
 
#146 ·
В конце 2013 года в Узбекистане завершилось строительство трех урановых рудников: «Аленды», «Аульбек» и «Северный Канимех». Общая стоимость проекта составила 70 млн долларов. К 2015 году рудники выйдут на полную проектную мощность.



Ожидается, что реализация этого проекта увеличит добычу урана к 2016 году почти в два раза - с нынешних 2,4 тысяч тонн в год до 4 тысяч тонн. Справочно: за 2008-2012 годы Узбекистан инвестировал 165 млн долларов в расширение и совершенствование своей урановой промышленности.

Новые рудники вошли в состав уранодобывающего комплекса Навоийского горно-металлургического комбината, который является единственным в Узбекистане предприятием, осуществляющим добычу и экспорт урана.

Помимо Узбекистана, добычей и экспортом урана в Центральной Азии занимается только Казахстан, он является крупнейшим производителем урана в мире: в 2012 году объем добытого в Казахстане урана составил 21 тыс тонн(36,5% мирового производства), тогда как Узбекистан находится только на 7 месте в мире, и на его долю приходится примерно 4% от мирового производства урана, которое составляет 185,8 тыс тонн.

Разница в объемах добычи урана пропорциональна его запасам в этих странах: так, по оценке Всемирной Ядерной Ассоциации, на долю Казахстана приходится около 14% мировых запасов урана (344 тысячи тонн), а у Узбекистана их всего около 2% (55 тысяч тонн).

Хотя Узбекистан едва ли сможет сравняться по добыче урана с Казахстаном, ожидаемый двукратный рост производства урана позволит ему обогнать Россию - второго по объему производителя урана в СНГ. По данным «Росатома», в ближайшем будущем роста добычи урана в России не ожидается в связи с неблагоприятной ценовой конъюнктурой на мировом рынке.

Узбекистан, же со своей стороны, нуждается в расширении производства урана, потому что уже сейчас наблюдается растущий интерес к его запасам со стороны таких стран, как Индия и Япония.

Кроме того, по данным Всемирной Ядерной Ассоциации, к 2020-2030 годам мировой спрос на уран вырастет примерно на 22,6%.

Однако добыча урана имеет свои недостатки. Один из них - это появление огромного количества отработанной пустой породы, содержащей радиоактивные элементы и нуждающейся в особых условиях хранения и постоянном мониторинге, в противном случае радиоактивное загрязнение отвальными материалами урановых рудников будет распространяться на многие километры.

Ожидаемый двукратный рост производства урана позволит Узбекистану обогнать Россию и стать вторым в СНГ

http://expertonline.kz/a12316/
 
#147 ·
Президент Узбекистана ознакомился с ходом строительства Устюртского газохимического комплекса



Президент Узбекистана ознакомился с ходом строительства Устюртского газохимического комплекса - Новости Узбекистана Президент Республики Узбекистан Ислам Каримов в целях ознакомления с ходом строительства Устюртского газохимического комплекса 25 апреля побывал в Республике Каракалпакстан.

– Подобный крупный и уникальный проект мы не случайно реализуем совместно с Республикой Корея, – сказал глава нашего государства. – Узбекистан считает Республику Корея развитым современным государством, располагающим огромным экономическим, индустриальным и интеллектуальным потенциалом, высоко ценит утвердившееся между нашими странами прочное и взаимовыгодное партнерство.

Глава нашего государства побеседовал с трудящимися здесь рабочими и специалистами, а также поинтересовался условиями труда и быта

Такие качества, как трудолюбие, искренность, великодушие, присущи как узбекскому, так и корейскому народу, сказал Президент Ислам Каримов.

Президент Узбекистана ознакомился с ходом строительства Устюртского газохимического комплекса - Новости Узбекистана Отметим, что на строительстве комплекса трудится около 6400 человек. Более 3,5 тысячи из них – это специалисты нашей страны, большую часть которых составляет молодежь.

С первых лет независимости мы поставили перед собой благородную цель построить государство с великим будущим, сказал Президент страны. Сегодня мы радуемся, глядя на нашу молодежь, глубоко овладевающую современными знаниями, работающую на таких уникальных современных заводах, и видим практическое воплощение наших благородных целей.

Председатель правления узбекско-южнокорейского совместного предприятия “Uz-Kor Gaz Chemical” Ли Хонг Йол, директор компании «Lotte Сhemical», технический руководитель проекта Хюн Чул Пак, менеджер компании “Hyundai engineering”, руководитель строительства Устюртского газохимического комплекса Ким Ван Су и другие выразили благодарность Президенту нашей страны за созданные благоприятные условия, постоянное внимание и заботу.

Добавим, что общая стоимость проекта составляет 3,9 миллиарда долларов США. Его реализация позволит за счет переработки 4,5 миллиарда кубометров природного газа ежегодно производить 3,7 миллиарда кубометров товарного газа, 387 тысяч тонн полиэтилена, 83 тысячи тонн полипропилена, 102 тысячи тонн пиролизного бензина и другую ценную продукцию.

Этот проект финансируется за счет прямых инвестиций учредителей совместного предприятия – южнокорейских компаний «Коgаs», «Lotte Сhemical», «STX Energy» и Национальной холдинговой компании «Узбекнефтегаз» в размере 1,4 миллиарда долларов, а также кредитных ресурсов на общую сумму более 2,5 миллиарда долларов.

http://news.uzreport.uz/news_2_r_119135.html
 
#148 ·
В Узбекистане с начала года производство грузовиков увеличилось на 20%



Предприятиями машиностроительной отрасли республики в первом квартале текущего года произведено продукции на 2933,7 млрд.сумов, что составило 126,% к январю-марту 2013 года.


Узбекистан, Ташкент – АН Podrobno.uz.

По информации Госкомстата, за отчетный период удельный вес отрасли в общем объеме промышленности республики составил 18%, что на 2,7% больше соответствующего периода предыдущего года (15,3 %).

По сравнению с январем – мартом прошлого года возросло производство грузовых автомобилей на 20,7%, легковых автомобилей (без специализированных) — на 15,7%, автобусов — на 12%; значительно увеличено к прошлому году производство автомобилей марки «Джентро» с высокой добавленной стоимостью (11017 штук), начато производство новой модели автомобилей «Орландо».

Одновременно увеличилось производство свинцовых аккумуляторов для запуска поршневых двигателей (103,0 % к январю-марту 2013 года), автомобильных двигателей (132,5%), радиаторов, глушителей шума, выхлопных труб, сцеплений, рулевых колес (в 2,3 раза), ходовых колес, их частей и принадлежностей (в 4,1 раза).

http://news.mail.ru/inworld/uzbekistan/economics/17934187/?frommail=1
 
#150 ·
Uzbekistan uses capital investments for US$2.5bn in 1Q



In the result of active implementation of investment policy and speeding up commissioning of modern objects and capacities, the volume of used capital investments in Uzbekistan reached US$2.5 billion in the first quarter of 2014, which grew by 12.4% year-on-year, the article, published by Ministry of Economy and State Statistics Committee of Uzbekistan said.
In the first quarter, the volume f utilized foreign investments exceeds US$588.6 million or 23.3% of total used capital investment. About 89% (US$525 million) from total foreign investments and loans were foreign direct investments, which rose 1.7 times year-on-year.

Measures, adopted in the end of 2013, on ensuring “zero backlog” on construction of social and engineering-communication infrastructure objects helped to increase utilization of investments due to budget resources by 24.8% and off-budget funds – 30.6%. Expenses of the state budget to economy grew by 37.9%.

At the same time, high investment activity of the population helped to increase use resources of population by 13% to 1.3 trillion soums.

In the reporting period, some 37 industrial projects worth US$416.2 million were completed, including within Uzbekyengilsanoat (13 projects), Uzavtosanoat (6 projects), Uzpharmsanoat (6), Uzstroymaterialli (4), Uzkimyosanoat (2) and Association of Enterprises of Food Industry, etc.

Within the implementation of territorial progamme of social-economic development of the regions, realization of 876 projects on expansion of production of industrial goods worth 660 billion soums was completed. About 510 new production capacities were commissioned.

Of the total number of completed projects, 188 projects were realized in the light and textile industry, 261 – food, 230 – construction materials, 74 - wood and furniture, 65 - chemical and petrochemical, 29 - mechanical engineering, 18 leather and footwear, 6 - electrical and 5 - pharmaceutical industry.

In the first three months of 2014, Uzbekistan started to realize 36 new large investment projects with total cost of US$3.3 billion. The investment activity helped to increase construction works by 15.5%.

http://www.uzdaily.com/articles-id-27581.htm
 
#151 ·
UzTadbirkorEksport (Company specializing in foreign trade) opened its trading house in the Latvian capital Riga.



The new Trading house will assist domestic farmers and entrepreneurs in exporting their products to the Baltic countries and Europe. Preparations for export of seasonal fruits are currently underway. It is planned to export products worth $1 million through the new Trading House

Note that UzTadbirkorEksport was established by the Presidential decree dated 24 August 2011 "On additional measures to create the most favorable business environment for further development of small business and entrepreneurship".

The main objectives of UzTadbirkorEksport are:

- assistance to small businesses and entrepreneurs for sale of their products on direct export contracts, as well as through trading houses established abroad;

- arranging pre-export financing against existing export contracts of products of small business and entrepreneurs;

- supply on orders of small businesses and entrepreneurs of processing technologies, spare parts, components and raw materials not manufactured in the country;

- assistance to small businesses in certification of export products, holding promotional activities , organizing and participating in international fairs and exhibitions, providing information and consulting small business and entrepreneurs.

http://economics.uzreport.uz/news_e_119323.html
 
#152 ·
China's EximBank to provide $350 million for tunnel construction between central Uzbekistan and Fergana Valley



China's EximBank to provide $350 million for tunnel construction between central Uzbekistan and Fergana Valley - Uzbekistan News
Export-Import Bank of China (Eximbank) provided a loan for projecting and construction of 19 -kilometer railway tunnel, which will connect the central Uzbekistan with the Ferghana Valley regions.

According to Jahon citing Uzbekistan Railways, the project will be financed through China Eximbank’s loan of $350 million for 20 years, including 5 years of grace period, at 2.25% interest rate.

The tunnel will be built by China Railway Tunnel Group Co. Ltd which signed a contract with Uzbekistan Railways. The tunnel will be part of Angren-Pap electrified railway line currently under construction, with total cost of approximately $481.7 million.

Note that the new railway construction is financed by own funds Uzbekistan Railways of $20.2 million, the $111.5 million loan from the Fund for Reconstruction and Development of Uzbekistan and long-term preferential

http://economics.uzreport.uz/news_e_119295.html
 
#153 ·
Uzbekistan and Bangladesh sign agreements for US$200m



Uzbekistan and Bangladesh signed contracts and agreements for supply of the Uzbek goods to Bangladesh for total sum of US$200 million, the press service of the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan said.
The documents were signed within the visit of the delegation of Uzbekistan to Dhaka on 24-25 April 2014. The visit was aimed at holding bilateral negotiations on further expansion of trade-economic cooperation between two nations.

The delegation of Uzbekistan held negotiations with the Prime Minister Sheikh Hasina, Commerce Minister Tofail Ahmed, and State Minister for Foreign Affairs Shahriar Alam, as well as other officials and representatives of the leading companies of the country.

The sides consider issues of organization of long-term and systematic supplies of cotton-fibre for needs of textile enterprises of Bangladesh, exports of automobiles, agriculture equipment, mineral fertilizers, chemical products and other goods to Bangladesh market, as well as creation of trade offices of foreign trade companies in Dhaka.

The Bangladeshi side also expressed interest in developing mutual relations in production of textile products and pharmaceutical goods in the territory of Uzbekistan.

In the result of the visit, foreign trade companies of Uzbekistan signed contracts and agreements on supply of goods to Bangladesh for over US$200 million. The sides also reached agreement on further developing joint perspective projects in various sectors of economy.

http://www.uzdaily.com/articles-id-27585.htm
 
#154 ·
Vice PM of Malaysia arrives in Uzbekistan



Vice Prime Minister and Minister of Education of Malaysia Tan Sri Muhyiddin bin Yassin arrived in Uzbekistan on 4 May with an official visit.
The delegation of Malaysia includes several members of parliament, senior government officials and representatives from business community and universities. The visit is aimed at strengthening bilateral ties and cooperation between the two countries.

During the visit, Tan Sri Muhyiddin bin Yassin will hold meetings with Prime Minister of Uzbekistan Shavkat Mirziyoyev and Minister of Higher and Secondary Specialised Education Alisher Vakhobov.

Muhyiddin will also visit the Uzbekistan State University of World Languages and Malaysia Education Fair and Art Exhibition 2014 in Tashkent.

Malaysian Prime Minister will wrap up his visit with a high-level roundtable meeting with Malaysia-Uzbekistan captains of industry, aimed at exploring new business opportunities and possible joint ventures.

Trade turnover between Uzbekistan and Malaysia grew from US$65 million in 2012 to US$71.4 million in 2013 (+9.85%). The volume of investments of Malaysia to Uzbekistan makes up about US$350 million, large part of which fells to share of oil company Petronas.

http://www.uzdaily.com/articles-id-27662.htm
 
#155 ·
Uzbekneftegaz and LG CNS hold talks in Tashkent



Uzbekneftegaz national holding company hosted negotiations with the delegation of one of leading South Korean companies LG CNS, the press service of the Uzbek company said.
The sides discussed opportunities of interaction in the sphere of implementation of perspective ICT projects and automatization of management and production processes of oil and gas industry.

At the same time it was underlined high dynamics of cooperation between Uzbekistan and South Korea, which is based on solid legal base of bilateral cooperation and their trust character.

During the meeting, several proposals were made, within which advanced Korean technologies can be adapted to market of Uzbekistan with help of local skilled specialists. The sides also considered other issues of mutual interest.

http://www.uzdaily.com/articles-id-27660.htm
 
#156 ·
Бизнесмены Чили изучают возможности Узбекистана

Узбекистан посещает первая бизнес-делегация Чили.
В Ташкенте 30 апреля состоялся узбекско-чилийский бизнес-семинар. Он был организован в рамках пребывания в Узбекистане с 28 апреля по 4 мая чилийской делегации в составе посла Чили в Узбекистане с резиденцией в Москве Хуана Эдуардо Эгигурена и консула Хуана Кристобаль Марина, сообщает НИА «Туркистон-пресс».

Как говорилось на семинаре, товарооборот Узбекистана и Чили по итогам 2013 года составил 301,3 тысячи долларов, из которых 136,6 тысячи долларов — экспорт и 164,7 тысячи долларов — импорт.

В Узбекистан Чили поставляет масленичные семена и плоды, продукцию неорганической химии, калийные удобрения, каучуковые и резиновые изделия. Основной позицией узбекистанского экспорта является хлопчатобумажная пряжа и изделия из нее.

Как отметил в интервью посол Чили, двусторонние дипломатические отношения были установлены более 20 лет назад — в 1993 году. Однако Хуан Эдуардо Эгигурен стал первым послом Чили, аккредитованным в Узбекистане в прошлом году.
«Этим самым наши отношения поднялись на новый уровень, — отметил посол Эгигурен. — Это наша первая поездка в Узбекистан такого рода. Мы организовали семинар для деловых кругов в целях повышения осведомленности в Узбекистане о Чили, а также изучения возможностей вашей страны для представления их в чилийских деловых кругах».

«Основными темами обсуждения стали вопросы торговли, туризма, инвестиций и возможности сотрудничества в этих сферах. Мы надеемся, что в будущем нам удастся организовать в Узбекистане торговое представительство Чили для развития взаимовыгодного сотрудничества бизнеса двух стран», — сказал дипломат.

Население Чили в настоящее время составляет около 17 миллионов человек. ВВП страны по итогам 2013 года составило 279 млрд долларов, сообщил Хуан Эдуардо Эгигурен в своей презентации «Чили: экономическая среда и возможности».

ВВП на душу населения составляет 19 тысяч долларов по паритету покупательской способности, и Чили в этом плане является ведущей страной Южной Америки. Уровень безработицы в стране составляет 5,9%. Продолжительность жизни — в среднем 78 лет.
По итогам прошлого года общий экспорт Чили составил 78 млрд долларов, основным партнером по экспорту является Китай, на который приходится 23%, затем ЕС — 18% и Латинская Америка — 15%, далее следуют страны Азии, США с 12% и другие государства.
Главная экспортная позиция Чили — медь, занимающая 53,9% в общем объеме. По словам посла, Чили является основным производителем меди в мире. Затем в экспорте доминируют продукция лесной промышленности, минеральной отрасли, свежие фрукты и овощи, морские продукты и другие товары.

В программу пребывания чилийской делегации в Ташкенте вошли встречи в МИД и МВЭСИТ Узбекистана, Министерстве по делам культуры и спорта, Торгово-промышленной палате, а также лекция в Университете мировой экономики и дипломатии на тему «Международная политика Чили» и другие мероприятия.


http://www.gazeta.uz/2014/04/30/chili/
 
#157 ·
Узбекистан и Украина расширят сотрудничество в аграрной сфере

Сотрудничество в сельскохозяйственной сфере обсудили министр аграрной политики и продовольствия Украины Игорь Швайка и посол Узбекистана Алишер Абдуалиев.
Министр аграрной политики и продовольствия Украины Игорь Швайка 30 апреля провел встречу с послом Республики Узбекистан Алишером Абдуалиевым. Они обсудили вопросы активизации экономического сотрудничества, в частности, поставки сельскохозяйственной продукции в Узбекистан, а также возможность совместного производства сельскохозяйственной техники, сообщила пресс-служба украинского министерства.

Посол Узбекистана высоко оценил сотрудничество между двумя странами и подтвердил намерение развивать отношения.

«Надеемся продолжать работу в области растениеводства, технологий и строительства сельскохозяйственной техники. В свою очередь, готовы поделиться опытом по проведению мелиоративных работ, который мог бы быть полезным для южных регионов Украины. Мы также чрезвычайно высоко оцениваем научно-технический потенциал Украины, особенно в области разведения гибридов зерновых и селекционной работы в животноводстве», — отметил Алишер Абдуалиев.

Игорь Швайка подчеркнул, что Украина заинтересована в развитии торговых отношений с Узбекистаном, в частности, в поставках сельскохозяйственной техники в Узбекистан и создании совместного предприятия с последующим сервисным обслуживанием на территории Узбекистана.

Он затронул вопрос поставки сельскохозяйственной продукции в Узбекистан, «минуя искусственные преграды со стороны Российской Федерации». 28 апреля инспекторами Россельхознадзора в железнодорожном пункте пропуска Гуково было приостановлено движение транзитного груза — пяти вагонов с 188,5 тысячи тонн мяса птицы из Украины в Узбекистан.

Министр также выразил надежду на углубление сотрудничества и обмена опытом с предприятиями и научно-исследовательскими институтами двух стран в области садоводства.


http://www.gazeta.uz/2014/05/02/ua/
 
#158 ·
Деньги из ветра

По оптимистическим оценкам Узбекистан до 2020 года может выйти на использование 50-100 МВт мощностей ветровой энергетики.
Германская GEO-NET Umweltconsulting GmbH в 2014-2015 годах осуществит оценку ветрового энергопотенциала Узбекистана, сообщил журналистам в Ташкенте начальник управления перспективного развития государственно-акционерной компании «Узбекэнерго» Равшан Артыков.

Германская компания подписала контракт с «Узбекэнерго» на исследование ветрового потенциала электроэнергетики Узбекистана в шести регионах Узбекистана, уточнил Артыков. По его словам, «исследования будут проведены на предмет выявления возможности промышленного производства электроэнергии при среднегодовых порывах ветра 100 метров в секунду». По итогам работы GEO-NET планируется приступить к подготовки ТЭО проекта создания парка ветроэнергетических установок (ВЭУ) в Узбекистане.

Ранее сообщалось, что «Узбекэнерго» до 2020 года планирует построить парк ВЭУ предварительной стоимостью около 200 млн долларов. Программа ВЭУ предусматривает строительство ветрогенераторов (2-3 МВт) с общей установленной мощностью на перспективных территориях от 50 до 100 МВт одновременно.

По данным Узгидромета, наиболее благоприятными районами для создания парка ВЭУ в стране являются Бухарская, Навоийская, Кашкадарьинская и Ташкентская области, а также Каракалпакстан и другие регионы.

http://www.gazeta.uz/2014/05/10/wind/
 
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#159 ·
361 contracts worth 19.12 billion soums signed at Tashkent Innovations Fair



April 23-25, 2014, the exhibition halls of UzExpoCenter hosted the VII Republican fair of innovative ideas, technologies and projects.

The fair was attended by about 125 scientific and educational institutions, R&D institutions of the Academy of Sciences, Ministry of Higher Education, Ministry of Health, Ministry of Agriculture and other organizations, which presented 549 applied scientific and technological developments in the field of industry, agriculture, healthcare and pharmaceuticals, IT, science and education, as well as in the direction of "renewable and alternative energy" and the developments of young scientists and students.

Distinctive features of the VII Innovations Fair were:

- Exhibition of innovations in "renewable and alternative energy” in a separate section;

- Exhibiting innovative developments of students and young scientists in a separate section;

- organization of presentations by the ministries and departments, as well as the regions on new innovations and technologies.

- holding a round table with the discussion of the directions on the involvement of young scientists and entrepreneurs to the innovative processes.

According to the Uzbek Ministry of Economy, 361 contracts for the purchase of new products and technologies worth 19.12 billion soums were signed during the fair between the developers of scientific and technical products and consumers.

The fair featured scientific workshop, round tables, as well as sectoral and regional presentations which discussed issues of further development of innovation, improvement of the regulatory framework, further development of renewable energy in the country, and attracting young scientists and students in development of innovation activity, etc.

As part of the fair, the most promising developments were identified and their authors were awarded prizes and certificates for free access to the Internet.

http://news.uzreport.uz/news_4_e_119743.html
 
#160 ·
В Ургенче (Хорезмская область) начало работу узбекско-китайское совместное предприятие UzXCMG, сообщает УзА.

СП, учредителями которого являются компании «Узбекистон темир йуллари» и Xuzhou Construction Machinery Group, специализируется на выпуске гидравлических экскаваторов и строительной техники, а также их обслуживании.

В церемонии открытия предприятия приняли участие председатель правления узбекской железнодорожной компании Ачилбай Раматов, вице-президент XCMG Ли Цзянь, заместитель премьер-министра Узбекистана Батир Закиров и хоким Хорезмской области Пулат Бобожонов.





http://www.gazeta.uz/2014/05/12/uzxcmg/
 
#161 ·
With modern infrastructure and beautiful cities, I can not understand why Uzbekistan GDP per capita (nominal) is still only ~ 2000 USD in 2013. It should be around $ 4000. Is it due to the undervaluation of Uzbek currency or some thing? Can anyone from Uzbekistan explain?

During Soviet times, I think Uzbekistan was also among quite developed republic, even more than Kazakhstan or Turkmenistan. What was Uzbekistan GDP per capita by then?
 
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