Sunday, 22, December, 2024

Economy

On July 12, the first meeting of the Common platform for open discussion of investment proposals of foreign and local investors will be held at the Crystal ballroom of the International hotel. co-organized by the committee for investments and the Business Ombudsman.

Uzbekistan delegation led by Deputy PM/Chairman of Uzbekneftegaz Alisher Sultanov visited the construction site of the Belarusian Nuclear Power Plant, the Belarus Ministry of Energy said in a statement.

Zero rate import customs duty will be applied to cars having a price tag of 40,000 US dollars and over, and manufactured less than two years ago, and to electric cars (HS Code 870380) starting from January 1, 2019, with the excise tax rate at 20% of the customs value.

The Cabinet issued the Measures to Organize Tea Production and Supply the Population With Quality Tea and Tea Products produced in Uzbekistan Resolution Monday.

President Shavkat Mirziyoyev today signed decree raising the salaries of employees of budget-financed organizations, as well as pensions, stipends and allowances by 7% starting from July 15.

Uzbekistan intends to ensure a deficit-free budget for the next three years to give a clear signal to the business that the state will continue strict macroeconomic policies, the Deputy PM/Finance Minister Jamshid Kuchkarov said at a meeting of the International Press Club Monday.

In Q1 of 2018 Uzbekistan's exports of goods were worth a total of US$ 2.9 billion, while imports amounted to US$ 3.6 blns, with trade deficit at US$ 0.6 bln. Imports are higher than exports due to, inter alia, the fact that some import operations shifted from shadow economy and were conducted through the banking sector, as well as due to production capacities being boosted by loans in foreign currency, the Central Bank  said in its quarterly report.

President Shavkat Mirziyoyev, by his June 29 decree, approved the Concept for Improving Uzbekistan’s Tax Policy, which is aimed at “reducing the tax burden, simplifying the taxation system and improving tax administration" and which has been prepared based on the recommendations of the International Monetary Fund, the World Bank and other experts, with its draft passing public discussion.

Uzbekistan Airways will receive two Airbus A320 Neo aircrafts in December, and in the second half-year of 2019 - two new Boeing 787 Dreamliners, the carrier said. Expansion of the fleet is part of the company's development strategy and modernization program.

Uzbek Foreign Ministry hosted a meeting with New Zealand's Ambassador Ian Alexander Hill, the foreign ministry said. The sides reportedly made arrangements to sign accords on trade-economic, scientific and technical cooperation, mutual protection and promotion of investments, avoidance of double taxation, and a number of others accords.

The construction of a solar power plant in the Samarkand province is suspended, the chief of strategic development at Uzbekenergo Eso Sadullayev said at the conference: Realities and Proxpects of the Electricity Sector Reforms– Experience Gained, Lessons Learned and Myths Debunked in Tashkent on Monday, adding that the study of project feasibility study found that the project should be reviewed.

Uzbekistan and Russia agreed to build a nuclear power plant (NPP) in Uzbekistan’s Navoi province. Uzbek Ambassador to Russia Bakhrom Ashrafkhanov told RIA Novosti.

Uzbek Deputy PM/Minister of Finance Jamshid Kuchkarov hosted the visiting World Bank mission, the ministry said. The parties reportedly discussed state and technical aspects of reforming Uzbekistan’s tax system and considered prospects for medium-term technical assistance to Uzbekistan in the field of fiscal policy.

"Now it is the best time to start doing business in Uzbekistan," said Laziz Kudratov, the first deputy chairman of the Uzbek Committee for Investments, in his opening remarks at the Uzbekistan-Spain forum: Multifaceted Partnership, which kicked off Tuesday at the Wyndham Hotel, and which was co-organized by the committee, Spanish Export and Investment Agency ICEX and the Economic and Trade Department of the Spanish Embassy in Tashkent, PR branch of the committee. 

Oybek Mirzabekov has been appointed as new chairman of the board of Uzsanoatexport (transl. Uz Industry Export), which was created in 2015 through merger of Markazsanoateksport and Uzprommashimpeks.

Delegation of Hyundai Motor Group led by President Han Sung-Kwon will arrive in Tashkent on Tuesday, the Uzbek Foreign Ministry said. The program of the visit includes meetings and talks in the government of Uzbekistan, Uzavtosanoat , as well as a number of ministries and departments.

In Minsk, the Uzbek Chamber of Commerce and Industry (UCCI) and the Belarusian Chamber of Commerce and Industry (BCCI) co-organized a round table featuring the business executives of the two countries. The 15 agency and company strong Uzbekistan delegation led by the UCCI chairman Adham Ikramov met with executives of about 130 Belarusian companies in petrochemical, light and food industries, agriculture, pharmaceuticals, logistics, engineering and ICT.

The Cabinet of Ministers’ draft resolution approving the procedure for setting the minimum consumer basket and subsistence minimum was published for public consultation. The requirement to introduce the said concepts is stipulated by the state program "Year of Proactive Entrepreneurship, Innovative Ideas And Technologies".

President of Uzbekistan issued decree Thursday allowing sale of gold and silver bullions, weighing from 5 to 1000 g which are to be produced in a new plant at the Navoi Mining and Metallurgical Complex as of the spring of 2019, the Committee for Tourism Development said in a statement.

The European Union and the Republic of Uzbekistan held their 15th Cooperation Committee Meeting in Brussels. The meeting provided an opportunity to reaffirm the joint commitment of the EU and of Uzbekistan to further strengthen bilateral relations.