President of Uzbekistan Shavkat Mirziyoyev departed for the United Arab Emirates (UAE) on an official visit, upon the invitation of UAE President Sheikh Mohammed bin Zayed Al Nahyan. During his visit, high-level negotiations will take place in Abu Dhabi, along with meetings with leaders of key organizations, companies, and financial institutions in the country. Additionally,…
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The fact-checking body Rumor Scanner has debunked a video falsely claiming that Bangladeshi citizens are destroying crops on Indian agricultural land. Indian media outlet Republic Bangla recently circulated a video on social media, alleging that “some Bangladeshis have infiltrated the Malda-Sukdevpur border of India and destroyed agricultural crops in the dark of night.” In its…
The BNP on Tuesday demanded that the interim government arrange the next national election by August this year in the greater interest of the country. “We think that the election is possible in the middle of this year, and that means between July and August,” said party Secretary General Mirza Fakhrul Islam Alamgir. He made…
In what could be considered a stunning political comeback, Donald Trump has regained the White House in a tense election against Kamala Harris, which initially started with razor thin majors. With 270 seats needed to secure a victory, Trump has already gotten 267, with Kamala Harris getting 224. The official declaration is now considered a…
The German government on Wednesday slashed its 2024 forecast for Europe’s largest economy, saying it will contract for a second straight year before a recovery gets under way in 2025. Output is expected to shrink by 0.2 percent in 2024, the economy ministry said in a statement, a sharp downgrade from the 0.3-percent expansion previously…
Democratic presidential candidate Kamala Harris made a surprise appearance at the party’s national convention on Monday night, drawing cheers from the crowd as she vowed to defeat Republican rival Donald Trump in the November election. “Let us fight for the ideals we hold dear and let us always remember, when we fight we win!” Harris,…
ACWA Power will build “green” hydrogen production plant in Chirchik by the end of the year. The regional director of the company, Abid Malik, spoke about this on May 14, as part of Energy Week (UEW 2024), in an interview with Spot. A representative of ACWA Power said that construction of the plant began jointly…
The President familiarized himself with measures to ensure energy security. In particular, from April 1, it is planned to reform gas and electricity tariffs and introduce social norms, re-registration of agreements on the purchase of electricity worth $49 billion, etc. The Agency for Strategic Reforms under the President presented to Shavkat Mirziyoyev the measures for…
British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, has announced a loan commitment of 50 million US dollar to BRAC Bank, a leading SME bank in Bangladesh, to support small businesses and women entrepreneurs. The loan will provide vital funding to support the growth of micro, small, and medium enterprises…
According to the conclusion of the mission of the International Monetary Fund, the escalation of the war in Ukraine, the volatility of commodity prices and the possibility of stagnation in the world economy constitute external risks for the economy of Uzbekistan. Among the internal risks, the delay in reducing public expenditures, the emergence of obligations…
Deals totaling $26.6 billion were inked at the 3rd edition of the Tashkent International Investment Forum, the press service of the Ministry of Investment, Industry and Trade said. In 2023, 167 documents worth $11 billion were signed within the forum, and in 2022 – $7.8 billion. In particular, agreements were reached on the implementation of…
Tashkent, Uzbekistan — On 17 April, the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov took part in the Uzbek-Tajik investment business forum, held in Dushanbe on the eve of the official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to this country. The event was co-chaired by…
As noted at the press conference following the results of the activities of the Navoi Mining and Metallurgical Combine joint-stock company for 2023, the gold mining plant retains its status as the largest taxpayer in the country. In 2023, products worth 67.5 trillion were produced. soums, the growth rate compared to 2022 was 103.8%. The…
During January-March (20th) 2024, over 376.5 thousand tons of mineral fertilizers were sold through electronic trading at the Uzbek Republican Commodity and Raw Materials Exchange, which is 13.5% less than for the same period in 2023, UZEX News reports “ Sales volume in January amounted to 99.2 thousand tons, in February – 156.1 thousand tons and in…
TASHKENT, July 16. /IA “Doone”/. The President of Turkmenistan, Serdar Berdimuhamedov, allowed the heads, except for the agricultural complex and the khyakims of the velayats (regions), to go on labor leave from August 1 to September 1, the correspondent of the Dune news agency reports. According to the state news agency “Turkmenistan Today” (TDH), the…
Deputy Minister of Foreign Affairs of Uzbekistan Muzaffar Madrakhimov met with Ambassador of Poland Radoslaw Gruk, reports “Dunyo” IA correspondent. According to Uzbekistan MFA, the parties reviewed the current state and prospects for the development of Uzbekistan-Poland relations in political, trade, economic, cultural and other spheres. The sides exchanged views on the schedule of upcoming…
Ayni paytda Prezident Shavkat Mirziyoyev Xorazm viloyatini ijtimoiy-iqtisodiy rivojlantirishning ustuvor vazifalari yuzasidan yig‘ilish o‘tkazmoqda. Yig’ilishda Urganch shahridagi Maxsus tibbiyot industrial parkiga 50 million dollarlik 12 ta loyiha joylashtirilishi qayd etildi. Yil yakuni bilan farmatsevtika korxonalari sonini 26 taga, mahsulot turini 50 taga yetkazish muhimligi taʼkidlandi. Umuman, aytilgan imkoniyatlardan foydalanib, viloyatga 1,5 milliard dollar sarmoya, shundan 1…
The information service of Uzbekistan Temir Yollari JSC published an appeal from the Chairman of the Board of the Joint Stock Company Zufar Narzullaev to industry workers: It is no secret that today in our country there is a fierce and uncompromising struggle to prevent and combat corruption in various spheres of state and public…
The delegation of the European Union to Uzbekistan has launched grant projects for the development of civil society. Funding of 3.5 million euros is divided between 8 civil initiatives that are aimed at supporting women, youth, as well as ecology and sustainable water management. Eight initiatives aimed at empowering civil society, especially women and vulnerable…
The resolution of the Cabinet of Ministers, adopted on March 25, 2024, introduces new conditions for the implementation of investment projects based on public-private partnerships in the capital of Uzbekistan. According to the document, certain facilities in Tashkent can now be leased to entrepreneurs for up to ten years with the possibility of implementing projects worth up…
This was discussed during a recent meeting between the acting chairman of the Uzcharmsanoat association, F. Nurmukhamedov, and the head of the Leading Edge Alliance of the Islamic Republic of Pakistan, Honorary Consul of the Republic of Uzbekistan Najib Mushtaq Vohra. This dialogue was organized at the initiative and practical support of our country’s embassy…
On March 28, the President signed a decree on the second stage of the implementation of the “Comprehensive Development of Rural Territories” project with the participation of the Islamic Development Bank. The goal of the project is to improve the socio-economic level of rural areas through the construction of roads, communication networks and social facilities. As part…
Cooperation between Uzbekistan and Oman has reached a new level thanks to the export of traditional Kokand halva. Under the auspices of the Uzbek embassy, online negotiations took place between Abdulatif Kholmatov, director of the Kokand halva factory “Avvali”, and Yasser al-Nabhani, head of the Omani company East Coast Jewels LLC. As part of the…
On May 3, the Jogorku Kenesh of Kyrgyzstan adopted in three readings the draft law “On the ratification of the protocol on amendments to the Agreement of October 3, 2006 between the Government of Kyrgyzstan and the Government of Uzbekistan on mutual travel of citizens”. The agreement was signed on January 27, 2023 in Bishkek. The protocol…
Issues of further strengthening Uzbek-American strategic partnership relations and building up multifaceted interaction were discussed. The high level of bilateral cooperation achieved in recent years, the ongoing active contacts and exchanges of visits were noted with particular satisfaction. Last September, the first summit of leaders of Central Asian countries and the United States in the C5+1…
The Chinese CITIC Construction could be engaged of the Tashkent-Chinaz highway reconstruction project. This became known during a meeting between the Minister of Transport Ilkhom Makhkamov and the management of the company. The parties discussed highway construction and reconstruction projects in Uzbekistan. CITIC Construction expressed its intended to bid for Pungan-Namanga and Tashkent-Chinaz highways reconstruction…
A press conference was held in Tashkent on the stages of introducing digital labeling of goods in Uzbekistan, its main tasks, the importance of labeling for protecting public health and the rights of entrepreneurs, and the system’s plans for the future.As part of the event, acting Head of the department for control of product labeling…
It is noted that it is necessary to ensure the employment of 925,000 young men and women this year according to the “youth balance”. Also, 300,000 young people graduate from colleges, technical schools and higher educational institutions. At the meeting, the issues of their employment, modern professions and involvement in entrepreneurship were discussed. First of…
Over the past two weeks, the price has already risen by 14 percent. At the same time, according to the EastFruit analytical platform , the current price for bananas still remains below the level that was recorded for these products in past years. According to price monitoring data from platform specialists, from September 22 to October 6 of…
The CMSF seeks applications from intermediaries interested to avail the loan. The Capital Market Stabilisation Fund (CMSF) has decided to disburse loans of Tk2 crore to each applicant stock market intermediary, enabling them to make investments in the capital market. The loan disbursement amount was finalised at the fund’s board meeting held on 11 October,…
Justice Md Emdadul Haque Azad, a High Court judge who recently likened the country’s situation to the hell, didn’t attend the court on Sunday, his last working day. As Justice Emdadul was sick, he couldn’t attend the court on the last working day, said Md Golam Rabbani, registrar general of the Supreme Court. However, sources…
According to the information service of Almalyk MMC JSC, for 9 months of 2023, the copper hero of Uzbekistan fulfilled the export forecast by 100.4%, exporting products worth $513,986,000. 41,227 tons of copper and 31,904 tons of zinc products were sold to foreign consumers. In addition, products such as copper sulfate, lead concentrate, sulfuric acid,…
Bangladesh has been running near double digit inflation for well over the past 12 months. This spells trouble for a government at any time, but this is especially worrisome in an election year. It is, therefore, hardly surprising that the Prime Minister has asked her economic team to fight and lower inflation quickly by all…
No attempt to thwart the election should be made from outside the country, Prime Minister Sheikh Hasina has warned pointing to those who are saying that they would impose sanctions on the country. She said, “If attempts are made to manipulate the election from outside our borders, the people of Bangladesh may also respond with sanctions.…
The delegation of Uzbekistan headed by the Chairperson of the Senate of Oliy Majlis Tanzila Narbayeva is in the Republic of Belarus on an official visit. Yesterday, within the framework of the visit, the first business forum of business circles and women entrepreneurs of Uzbekistan and Belarus was held in Minsk. Photo: senat.uz The event…
The land that is now Uzbekistan was once at the heart of the ancient Silk Road trade route connecting China with the Middle East and Rome. The country came under Russian control in the 19th Century, and emerged as an independent state when Soviet rule ended in 1991. Under authoritarian President Islam Karimov, who ruled…
Bangladesh and the United Kingdom (UK) will hold the next round of strategic dialogue in Dhaka in September’s second week. Officials from the both sides are now working on the agenda of the dialogue and an inter-ministerial meeting is likely to be held on August 27, reports UNB. The strategic dialogue is likely to be…
15 candidates from Sammilito Baboshayee Parishad panel and eight candidates from Baboshayee Oikyo Parishad panel were elected directors of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The 23 candidates were elected directors from association group for 2023-25 tenure during the biennial election of the apex trade body held on Monday, according to…
The Infrastructure Development Company Limited (IDCOL) has extended $20 million long-term loan to Dhaka RAD Elevated Expressway Company Limited (DREECL), an SPV (Special Purpose Vehicle) formed to implement a PPP project, says a press release. The project is designed to improve Hatirjheel (Rampura Bridge)-Shekherjaiga-Amulia-Demra Road (with link to Tarabo and Chittagong Road). A loan agreement…
Non-basmati white rice, which India has banned for export, is mainly purchased by Senegal, Benin, Togo, Bangladesh, and Cote d’Ivoire. Labourers unload rice bags from a supply truck at India’s main rice port at Kakinada Anchorage in the southern state of Andhra Pradesh, India, on 2 September 2021. PHOTO: REUTERS Indian rice exporters have been…
Chinese Special Envoy for Asian Affairs Deng Xijun held two separate meetings in Dhaka and discussed issues of mutual interest, including the thorny issue of Rohingya repatriation. This is his second visit within less then four months and he had meetings with Foreign Minister Dr AK Abdul Momen and Foreign Secretary Masud Bin Momen separately…
An overpass can be built at the intersection of Botir Zakirov and Navoi streets. Urban planners pointed out that such a decision would be a wrong decision according to modern urban planning, economic and ecological aspects. Public activists are calling for the bridge project to be canceled. Navoi avenue, intersection of Abay and Botir Zakirov…
On July 19, on the sidelines of the first summit of the leaders of Central Asian countries and the Cooperation Council for the Arab States of the Gulf, President Shavkat Mirziyoyev held talks with the Crown Prince, Prime Minister of Saudi Arabia Mohammed bin Salman Al Saud. The Crown Prince cordially congratulated Shavkat Mirziyoyev on his convincing…
Social networks circulated a video showing a group of citizens blocking the way of a bus carrying passengers and throwing stones at its window on the road passing through the territory of Akdarya district of Samarkand region. Photo: Frame from the video According to the regional DIA, on July 28, in the Gallaorol district of…
Japan is becoming a major trading partner of Bangladesh in terms of export and investment. The country’s manufacturers have set a target of $10 billion in apparel export earnings from Japan by 2030. Also, Japan has emerged as a major source of investment for Bangladesh in recent years. Bangladesh first export to Japan among the…
Bangladesh has set eyes on doubling its garment exports to Australia, which is one of the largest and potential markets for Bangladeshi apparel, within the next five years. Entrepreneurs in the sector are optimistic that Bangladesh can capitalise the expected reduction in China’s garment exports to Australia, much like it has successfully done in Europe…
Thirteen more dengue patients have died and 1,533 were hospitalised across the country in the last 24 hours till Tuesday morning which is the highest dengue death in a single day this year. With the latest figure, a total of 127 dengue patients have died in the country and 24,000 were admitted to hospitals this…
As global interest rates continue to rise, Bangladesh faces a considerable increase in its foreign debt servicing liabilities. To compound the challenge, an internal calculation by the Economic Relations Division (ERD) reveals that the government is expected to see a $1.5 billion decline in net financing from external sources next fiscal year and $2 billion…
Prime Minister Sheikh Hasina’s ICT Affairs Adviser Sajeeb Wazed Joy said Awami League (AL) brought back democracy in the country by confronting the violent claws of dictator-extremists. He wrote this in a facebook post from his verified account today along with uploading a video content. “After wresting victory from the Pakistanis in 1971, Bangladesh struggled…
The Middle East has long been the centre of geopolitical priorities for the United States and for the most part, the global hegemon had maintained a sphere of influence over the major power in the region. The US fostered the rise of Israel and protected it from regional rivals with its annual $3 billion aid,…
Dengue cases were on the rise at the Rohingya camps in Cox’s Bazar, with 619 Rohingyas being infected with the mosquito-borne disease here in 24 hours till Monday morning. According to Cox’s Bazar civil surgeon’s office, out of the 668 people that were admitted to different health centres in the district during the period, only…
Faltering footwear, leather industries: Why Bangladesh fails to capitalise on raw material advantage
Bangladesh lags far behind its economic peers in footwear and leather product exports, exposing the country’s insufficient focus on a sector that possesses a key advantage – regular access to the main rawhide – which its competitors lack. For instance, Bangladesh, despite having started footwear and leather product exports earlier than Vietnam, lags significantly behind…
A delegation of 25 chief executive officers (CEOs) and founders of major African and central Asian textile, apparel, and footwear companies, accompanied by the representatives of prominent global brands, is now visiting Bangladesh on a two-day tour to encourage low carbon emission and share of knowledge in the sectors. The delegation reached Bangladesh on June…
Apparel exports to the non-traditional markets reached $7.68 billion with 32.74% year-on-year (YoY) growth in the first eleven months (July-May) of FY23, higher from $5.79 billion in the same period of the last FY22, according to the Export Promotion Bureau data, compiled by the RDTI cell of the BGMEA. The United States, Canada, the United…
Bangladesh has very recently made its first payment in the local currency, taka, for a predominantly foreign loan-funded project — indicating a possibility of being quite a game-changer. The project in question involves the construction of a 24-kilometre elevated expressway connecting Dhaka to Ashulia, with an estimated cost of Tk17,653 crore (approximately $1.2 billion). China…
Representatives from the brokerage and merchant banking sectors reiterated their recommendations to foster a vibrant capital market during a meeting with the Dhaka Stock Exchange (DSE) on Sunday (18 June). The meeting, chaired by DSE Acting Managing Director M Shaifur Rahman Mazumdar, highlighted concerns regarding the proposed income tax act’s impact on new investor encouragement,…
According to the Novosti UZEX newspaper , the volume of sales of the domestic exchange market of non-ferrous metals in January-May 2023 exceeded 45.6 thousand tons. The largest volume in the sales structure falls on cathode copper, whose share is 69%. The following positions are occupied by zinc with a share of 23% and copper rod with…
Mohammad Kabir Hossain learned the nuts and bolts of bus building from his guru Ladla at the Ryad Engineering Workshop in Savar. Although Ladla is an expert in building AC buses, he also taught Kabir how to build non-AC buses and minibuses. “In 2000, at the age of 20, I joined the workshop as a…
The elections were held in an overall orderly and festive atmosphere, said Kazi Habibul Awal, the chief election commissioner After a day-long vote in Khulna and Barisal amid a peaceful atmosphere on Monday, the two ruling Awami League-nominated mayoral candidates became victorious, defeating their closest contestants from Islami Andolan Bangladesh (IAB) by a margin of…
The government hopes that the country’s current account deficit will go within the next two years after being negative for most of the past decade. In the medium term, the balance of payments (BOP) will improve further, and the current account balance would return to a positive quadrant by the end of FY26, said the…
On January 25 , 10-year government bonds worth 10 billion soums were issued for the first time at the Republican Currency Exchange (UzRCE) . Also on that day, 5-year government bonds worth 174.5 billion soums were placed. The weighted average coupon payment on these securities amounted to 15% and 14.5% per annum, respectively, setting a benchmark for a 10-year…
According to the State Statistics Committee, in January-December 2022, the foreign trade turnover of Uzbekistan reached $50,008.4 million, which, compared to the same period in 2021, increased by $7,837.9 million (an increase of 18.6%). Uzbekistan has trade relations with 204 countries. The largest volume of foreign trade turnover was recorded with Russia (18.6%), China (17.8%),…
As of January 1, 2023, the number of enterprises operating in Uzbekistan with the participation of foreign capital amounted to 15,801. According to the State Statistics Committee, this figure increased to 2,512 compared to the same period last year.
The Minister of Investments, Industry and Trade Laziz Kudratov has met with the Chairman of Indorama Corporation Prakash Kejriwal, in Singapore. The parties discussed issues of further deepening cooperation. Indorama Corporation has established and successfully operates a cotton yarn production enterprise in Uzbekistan’s city of Kokand, a textile cluster for the production of yarn and…
On January 25, 10-year government bonds worth 10 billion soums were issued for the first time at the Republican Currency Exchange (UzRCE) . Also on that day, 5-year government bonds worth 174.5 billion soums were placed. The weighted average coupon payment on these securities amounted to 15% and 14.5% per annum, respectively, setting a benchmark for a 10-year period.…
Zarafshan Wind Farm Project wins deal of the year in Central Asia
Winter World University Games: Uzbekistan delegation arrives in the United States
The President of Uzbekistan to take part in the Voice of the Global South Summit
Uzbekistan has one of Central Asia’s biggest media markets. TV is the most popular medium and the state broadcaster operates the main national networks. Russian TV is widely watched. Media freedom has declined after some limited improvement following the death in 2016 of former President Islam Karimov. The run-up to the 2021 presidential election saw…
The land that is now Uzbekistan was once at the heart of the ancient Silk Road trade route connecting China with the Middle East and Rome. The country came under Russian control in the 19th century, and emerged as an independent state when Soviet rule ended in 1991. Under authoritarian President Islam Karimov, who ruled…
Tashkent, Uzbekistan (UzDaily.com) — Asaka Motors International has become a partner of EXEED premium car brand in Uzbekistan. On 9 January 2023, Asaka Motors International and EXEED signed a cooperation agreement. The project envisages the production and localization of premium cars in Uzbekistan. This measure will not only significantly reduce the cost of cars for end…
Tashkent, Uzbekistan (UzDaily.com) — The tragedy of the death of children after taking the Doc-1 Max drug, which deeply saddened the whole society, showed that a number of problems remain in the healthcare and pharmaceutical sectors in the country. The nationwide movement “Yuksalish” believes that only an integrated approach and the involvement of all stakeholders will…
TASHKENT, January 4. /“Dunyo” IA/. Today, the President of the Republic of Uzbekistan Shavkat Mirziyoyev held a telephone conversation with the President of the Russian Federation Vladimir Putin, reports “Dunyo” IA correspondent. According to the press service of the Head of our state, the leaders considered the issues of further deepening the Uzbek-Russian relations of comprehensive strategic partnership.…
On 26 July 2022, the Cabinet of Ministers of the Republic of Uzbekistan adopted Resolution “On amendments and additions to some resolutions of the Government of the Republic of Uzbekistan in connection with further improvement of conditions for tourism industry entities”. On the basis of the resolution, small businesses wishing to establish the activities of…
The Ural Tourism Association (UAT) considers Uzbekistan as a new transit hub for tours to Singapore, Delhi and other Asian cities. They are also offered to replace Turkey. Mikhail Maltsev, head of UAT, said this at a press conference at TASS. Hub for flights to East Asia The development of Uzbekistan as a hub may…
As of 1 July 2022, the resident population of Uzbekistan reached 35.6 million people, of which 11.25 million people were people under working age (31.6%), the State Statistics Committee said. About 20.38 million people are of working age (57.2%) and 3.97 million people are older than working age (11.2%).
In the first six months of 2022, UzAuto Motors produced 160,000 vehicles, setting a record for production volumes. According to a new study by the Russian analytical agency PromRating, in the first six months of 2022, Uzbekistan produced more cars than Russia and took a leading position among the CIS automakers in terms of production…
The precious metal, after two declines, lost 13.5% of the peak value reached in March. Gold in Uzbekistan has significantly fallen in price after the spring jump in prices, Spot reports referring to the Central Bank data. In March-April, the quotes of the precious metal at the peak exceeded 750,000 soums per gram (3.75 million soums for…
14th CAITME 2022, the international exhibition of equipment and technologies for the textile, clothing and knitwear industry in Central Asia, will return in the traditional expanded format from September 7-9, 2022, to be held at the Uzexpocentre in Tashkent, Uzbekistan. The event is supported by key ministries and trade and production associations and will be attended…
According to the State Statistics Committee, as of July 1, 2022, the number of foreign-invested enterprises registered in Uzbekistan topped 14,353. According to the committee, the number of foreign-invested enterprises increased by 1,539 to the same date last year. Number of foreign-invested enterprises by country: Russia – 2,654; Turkey – 2,032; China – 2,011; Kazakhstan…
v About 493,888 tourists from abroad visited Uzbekistan in June 2022. This is 307,146 people or almost three times more than in the corresponding period of last year. According to the Ministry of Tourism and Cultural Heritage of the Republic of Uzbekistan, a total of 414,763 tourists from neighboring countries visited the country in June.…
A resolution of the President “On measures to create micro-centers of industry, crafts, household and livestock breeding in mahallas” was adopted. The resolution will create micro-centers of industry, crafts, household and animal husbandry with the status of a legal entity in 421 mahallas. State-owned objects and land for the organization of micro-centers are leased to…
The President signed a resolution “On measures to increase the volume of production, processing of uranium and the transformation of the state enterprise “Navoiyuran” in 2022-2030”. According to the document, Uzbekistan plans to double uranium production in 2022-2030. In accordance with the document, the production volume is planned to be increased from 3,526 tons in…
The commerce minister said the export target would have been higher if there was not a recession scare Despite the World Bank’s forecast that global economic growth would slump this year, Bangladesh has set a $67 billion export target for the current fiscal 2022-23, which is 10.10% more than the actual export earnings in the…
Bangladesh was behind India and CAFTA-DR region on the list of destinations from where the US buyers plan to increase sourcing More than half of the US apparel executives plan to source more from Bangladesh than from China, Vietnam, Indonesia, Cambodia and other competitors over the next two years, according to the USFIA 2022 Fashion…
In January-June 2022, Uzbekistan exported 821 thousand tons of fruits and vegetables for $450 million. According to the State Statistics Committee, the figure increased by 104 thousand tons compared to the corresponding period of last year. The volume of fruits and vegetables exported in 6 months of 2022: fruits and berries – 118 thousand tons dried…
The government on Wednesday fixed the merchandise export target for the current fiscal year (2022-23) at $58 billion which is 11.36 per cent higher than the real export earnings of the last fiscal year (2021-22), reports BSS. The export target from the services sector for the FY23 has been fixed at $9 billion which is…
The Ministry of Agriculture published data on the cost and quantity of sugar sold on the Commodity Exchange. According to the Ministry of Agriculture, in the first 10 days of June, the minimum price of sugar sold at the commodity exchange amounted to 11.9 million soums per 1 ton, the maximum – 14.5 million soums. In…
The global demand for furniture “made in Bangladesh” has risen considerably thanks to improvements in product quality, diversification in design, cash incentives, availability of manpower and lower wages in the industry, according to market players. As such, the country recorded a decade-high $110.36 million in furniture exports during the previous fiscal year, shows data from…
Bangladesh’s furniture export hit a historic high of $110 million last fiscal year thanks to its spiraling demand in the international markets. The amount is 39 percent higher than the previous fiscal year’s $79 million and a whopping 255 percent higher than 2012-13 fiscal year’s $31 million. The highest amount of the goods—worth over $55…
Information technology (IT) exports from Bangladesh are snowballing as global clients have swamped local IT companies with orders for various software, data processing, and other digital service solutions. As such, local IT companies saw their export earnings shoot up 52 percent year-on-year to $369 million in the July-April period of fiscal 2021-2022, according to the…
A presidential decree “On additional measures to ensure price stability in the consumer market and increase the effectiveness of antimonopoly measures” has been adopted. According to the document, from June 1, 2022, the export of the following products is temporarily prohibited: – vegetable oil, including cottonseed and sunflower oil;– sunflower seeds (TIF TD code 1206 00)…
This year it is planned to harvest 2,550 thousand tons of wheat at an average of 2.5 tons from each hectare of irrigated areas. According to the Norma.uz portal, this measure is provided for in the decree of the head of state adopted on May 28 “On additional measures to introduce the market principle in…
The ADM Jizzakh plant in Uzbekistan may launch full-cycle production of Lada cars. Artak Kamalyan, Minister for Industry and Agro-Industrial Complex of the EEC, spoke about this in an interview with Izvestiya. Since October 2021, SKD assembly of Lada cars has been carried out there: Vesta, ХRay, Largus. Now, according to the minister, the issue…
President of Tajikistan Emomali Rahmon, accompanied by the President of Uzbekistan Shavkat Mirziyoyev, visited the Technopark in the city of Tashkent. The industrial complex, created on the initiative of the President of Uzbekistan, hosts 17 projects worth $365 million. Today, 13 of them have been launched, the production of electronic gas meters, refrigerators, industrial air…
Uzbekistan plans to harvest about 2 million tons of grapes this year. Ripening will begin from the first ten days of July, depending on the soil and climatic conditions of the regions, Sputnik Uzbekistan reports. Today, 12 table and five industrial varieties of grapes are grown in Uzbekistan, including table varieties – “Husayni”, “Rizamat Ota”,…
President of Tajikistan Emomali Rahmon, accompanied by President Shavkat Mirziyoyev, visited historical monuments in the Ichan-Kala complex. A remarkable feature of Ichan-Kala is that there are not only more than 120 architectural monuments here, but also the population living in this ancient part of the city. Therefore, the city is called an open-air museum. Khiva…
From 31 May to 2 June 2022, Singapore hosted the Halal In Travel – Global Summit 2022, dedicated to the restoration and development of the Muslim tourism market. Deputy Prime Minister, Minister of Tourism and Cultural Heritage Aziz Abdukhakimov spoke at the event in an online format. “As a result of the special attention paid…
Ancient Bukhara has been given the status of a world city of artisans by the World Council of Artisans, Jamol Nasirov, mayor of Bukhara, told to Dunyo news agency. – Within the framework of the international gold embroidery and jewelry business, an international festival of the art of kashta embroidery is being held, – the…
As part of a press tour organized by the Ministry of Tourism and Cultural Heritage, media journalists and bloggers visited the famous Namangan shrine Un Bir Ahmad. The journalists got acquainted with the architectural objects of the region – the house of Kadyrhoja Eshon and the shrine “On Bir Ahmad”. Kadyrhoja Eshon is one of…
Rostourism predicts an increase in the number of tourists from the Russian Federation to Uzbekistan this year up to 700,000 people, which is 30 percent more than pre-Covid indicators, and this is the most developed air route in the entire post-Soviet space, the press service of the agency said. In 2019, Russians made more than…
According to the State Statistics Committee, in January-April 2022, 662,000 tons of cement worth US$26.1 million were imported to Uzbekistan. The volume of cement imports decreased by 372 thousand tons compared to the corresponding period of last year. The main countries from which Uzbekistan imports cement in January-April 2022: Tajikistan – 289,500 tons Kazakhstan –…
With the rise in demand of yarn and fabrics produced domestically, the country’s primary textile sector invested Tk57.90 billion in 2021 to ensure supply. At a time when the country’s overall investment saw a stagnant situation, a handsome investment in the textile sector is a good sign for the apparel sector to get supply from…
After 13 years, Uzbek cotton farmers are celebrating the lifting of the international boycott of their products, with the confirmation of no longer using organized forced labor to harvest the economically vital crop. It’s great news that the world’s biggest cotton producers, including major American clothing retailers such as Amazon, Gap, J.Crew, Target, and Walmart,…
Three Chinese companies have made proposals to invest in apparel, float glass and green energy sectors by setting up factories in Bangladesh, officials said. The firms intending to establish factories here are Xinyi Glass Holdings Limited, Guopu Energy Technology Company Limited and Hangzhou IV Supply Chain Co Limited. Guopu Energy has proposed to invest a…
Recover, the Spanish recycled cotton producer, opened its new facility in Bangladesh to expand its manufacturing capabilities and accelerate its effort to transform the fashion industry. Actually Bangladesh produces about 4 lakh tonnes of garment cutting waste annually, which is locally known as “jhut”, of which, only 5% can be recycled at four mills. Notably,…
UzAssets Investment Company under the State Assets Management Agency has reached an agreement with “Sanoat Energetika Guruhi” PE LLC to sell a 100% stake in UzAssets in the charter capital of Fergana Oil Refinery LLC for $100 million. KPMG Valuation and Consulting LLC was recruited as a privatization consultant to organize the sales process. An international appraisal…
The 12th International Exhibition-Fair of Leather, Footwear, Haberdashery, Localized Products, Fur and Wool UzCharmExpo 2022 has started its work at Uzexpocentre NEC. The organizer of the prestigious forum is the Uzcharmsanoat Association in cooperation with Ministry of Investments and Foreign Trade of the Republic of Uzbekistan. UzCharmExpo 2022 is the point where professionalism and experience…
Russia’s invasion of Ukraine will slow economic growth in Uzbekistan to 3.6% in 2022, compared to pre-crisis estimates of about 6%. According to the World Bank, an expected 50% drop in remittances (due to a weaker ruble and the collapse of the Russian economy) and higher prices for oil, wheat and vegetable oil will sharply…
The parties issued several previously announced loans at the sessions of the World Bank and the IMF. Uzbekistan will receive international loans under five agreements. They amount to $575 million, Spot reports with reference to the press service of the Ministry of Economic Development. The signing of the documents took place at the spring session of the…
With the latest development, the total number of green factories now stands at 160 The United States Green Building Council (USGBC) has recognized three more readymade garment factories in Bangladesh as green – raising the total number of environment-friendly establishments in the apparel sector to 160. The latest, Epyllion Knitwears Ltd was rated gold while…
It was noted that in order for Uzbekistan to join the ranks of countries with higher incomes by 2030, the GDP growth rate should be much higher than the current level. The World Bank has published a new study analyzing the main challenges and opportunities for socio-economic development of Uzbekistan. It contains recommendations on overcoming obstacles to…
From 2023, district agro service centers will be created on the basis of district departments of agriculture. To increase human resources at the first stage in the field of digital and geoinformation technologies, in 2022 more than 1.5 thousand specialists will be retrained. Together with the Atyab Foodtech of the Sultanate of Oman, modern laboratories…
On 21-25 May 2022, the International Festival of Gold Embroidery and Jewelry Business will be held in the city of Bukhara. The purpose of this event is a broader presentation of the multifaceted Uzbek national handicrafts, promotion of its unique samples, the establishment of an exchange of experience between peoples in this direction, and the…
In order to implement the Presidential resolution “On the introduction of market principles that ensure free competition in the production and sale of grain”, the Uzagroinspektsiya studied, in accordance with established requirements, business entities – grain recipients with closed storage tanks grains. Based on the results of the study, a list of enterprises with a…
UzAssets Investment Company under the State Assets Management Agency of the Republic of Uzbekistan announced an agreement on the sale of a 100% stake in UzAssets for US$100.0 million, in the authorized capital of Ferghana Oil Refinery to Sanoat Energetika Guruhi, the largest private oil and gas company in Uzbekistan. The state share was sold…
Resolution of the Cabinet of Ministers “On organizational measures for the development of clinical trials of medicines and their implementation in accordance with the requirements of international standards” was adopted. According to the decree, the Center for the Development of Clinical Trials of Medicines in the form of a state institution is being created on…
According to the State Statistics Committee, in the first two months of 2022, 1.3 thousand tons of dates were imported to Uzbekistan in the amount of US$807,600. The volume of imports of dates increased by 478 tons compared to the corresponding period of last year. Countries from which Uzbekistan imported the largest number of dates…
According to the State Statistics Committee, in the first two months of 2022, Uzbekistan exported silk and silk products worth US$10.5 million to 12 foreign countries. Export of silk and silk products increased by US$5 million compared to the same period of last year. Countries to which Uzbekistan exported the largest amount of silk and…
The President signed the Further improvement of interbudgetary relations and tax administration Decree. According to the decree, the Annex No. 1 to the president’s Measures to further streamline foreign economic activity and improve the system of customs and tariff regulation of the Republic of Uzbekistan Decree has been amended and supplemented accordingly. Customs duty rates will…
In a first, a private trader in India has exported commercial goods to Uzbekistan through Pakistan and Afghanistan in a historic trade activity linking the four countries, according to a media report. Trucks carrying 140 tonnes of cargo, mostly sugar from India, departed Kabul on Wednesday for the Uzbek capital Tashkent, the Voice of America…
The total balance of official reserve assets and other foreign currency assets amounted to $35.2 billion. The net volume of gold has not changed. The Central Bank presented information on international reserves of Uzbekistan for April. Although official reserves decreased by $205 million compared to March, they increased by $16.3 million compared to the beginning of the…
In January-February 2022, Uzbekistan exported $10.5 million worth of silk and silk products to 12 countries. According to the State Statistics Committee, the export of silk and silk products increased by $5 million compared to the same period last year. During the reporting period, the republic exported silk products mainly to the following countries: China –…
The sale of foreign currency by the population increased markedly. However, the demand for foreign currency has increased even more. The flow of money transfers from abroad in the first quarter of 2022 increased slightly, according to the data of the Central Bank. In three months, Uzbekistan received transfers worth $1.47 billion. As noted by the regulator,…
According to the Ministry of Agriculture, three-quarters of imported oils and seeds come from Kazakhstan. Uzbekistan has reduced imports of sunflower seeds and oil, Spot reports with reference to the press service of the Ministry of Agriculture. In January-March, 21.3 thousand tons of vegetable oil and 39 thousand tons of sunflower seeds were imported into…
Russia’s invasion of Ukraine will slow economic growth in Uzbekistan to 3.6% in 2022, compared to pre-crisis estimates of about 6%. According to the World Bank, an expected 50% drop in remittances (due to a weaker ruble and the collapse of the Russian economy) and higher prices for oil, wheat and vegetable oil will sharply…
According to the State Statistics Committee, the foreign trade turnover of Uzbekistan and Turkey in January-February 2022 was: Foreign trade turnover – US$521.2 million Export – US$238.4 million Import – US$282.8 million Export (high share) Industrial products – US$200.4 million Chemical products – US$18 million Services – US$5.5 million Import (high share) Machinery and equipment…
UzFood is an effective business platform that has been the best platform in Uzbekistan for over two decades to demonstrate a wide range of food and beverages, the latest technologies in the food and processing industry, packaging and storage of finished products. The role of the exhibition is also evidenced by the assessments of specialists,…
The Asian Infrastructure Investment Bank (AIIB) and the Republic of Uzbekistan have signed a US$108-million loan to electrify the Bukhara-Miskin-Urgench-Khiva railway line. The agreement was signed on the sidelines of the Tashkent International Investment Forum 2022 held earlier in March by AIIB Vice President, Investment Operations (Region 2) Konstantin Limitovskiy and Uzbekistan Deputy Prime Minister,…
Fly Khiva Group LLC, a private airline jointly with Azerbaijani airlines Azal, is launching a direct flight on the Baku-Tashkent-Baku route from 2 April 2022. Flights from the capital of Azerbaijan will be carried out once a week – on Saturdays on an A-320 aircraft, with a business and economy class layout. Travel time will…
UzAuto Motors exported the first batch of Spark cars to Lebanon. This was reported by the press service of the company. UzAuto Motors has started cooperation with one of the largest car dealers in Lebanon – IMPEX. On the last day of March, the company sent a batch of 54 Spark LT AT vehicles to…
Uzbekistan and Tajikistan are launching three new bus routes. The Tajik enterprise “Asia Group Tajikistan” will start experimental international bus transportation from 2 April. The first trial flights will be carried out on the routes “Penjikent – Samarkand”, “Dushanbe – Termez” and “Dushanbe – Denau”. This was reported by the press service of the Ministry…
The European Bank for Reconstruction and Development (EBRD) has downgraded its forecast for Uzbekistan’s economic growth in 2022. According to the bank’s experts, the growth of the economy of Uzbekistan in 2022 will be 4%. Earlier, the bank predicted that Uzbekistan’s GDP would grow by 6% this year. The EBRD notes that the conflict in…
The Specialized International Exhibition of the Leather Industry – APLF Dubai 2022 has opened in Dubai, UAE. composition. The national exposition of Uzbekistan is represented by over 100 products from 10 member companies of the Association. The international exhibition APLF-2022 is one of the largest events demonstrating the achievements of the global leather industry. It…
On 31 March 2022, the First National Hospitality prize of Uzbekistan 2021 was held. The organizers of the event are the Ministry of Tourism and Cultural Heritage and the Association of Hoteliers of Uzbekistan. Deputy Prime Minister, Minister of Tourism and Cultural Heritage Aziz Abdukhakimov delivered a solemn speech at the opening of the award.…
The Ministry of Energy of Uzbekistan presented the progress of reforms in the fuel and energy complex and the development of the country’s “green energy” at the International Economic Forum of the CIS member states, held in Moscow on 18 March this year. First Deputy Minister of Energy Azim Akhmedkhodjaev made a presentation at the…
According to the results of January-February 2022, the foreign trade turnover (FTT) of Uzbekistan reached US$8.73 billion, which, compared to the same period in 2020, increased by US$4.01 billion (an increase of 84.9%), the State Statistics Committee of Uzbekistan said. Of the total volume of the FTT, exports amounted to US$4.1 billion (by January-February 2021,…
The retail trade turnover in Uzbekistan in January-February 2022 reached 37.07 trillion soums and increased by 13.3% compared to the same period in 2021, and the turnover of large enterprises amounted to 8.4 trillion soums (growth rate – 54.5%), and small businesses and private entrepreneurship – 25.31 trillion soums (growth rate – 4.2%), including unorganized…
According to preliminary data, in January-February 2022, enterprises of Uzbekistan produced industrial products worth 66.7 trillion soums, the index of physical volume of industrial production compared to the same period in 2021 amounted to 107.4%. The State Statistics Committee said in the structure of production, the largest share falls on manufacturing enterprises (79.0%), the volume…
The number of small businesses per 1000 people in Samarakand region as of 1 January 2022 amounted to 13.5 units. The number of small businesses per 1000 people in the Samarkand region for the corresponding period was: as of January 1, 2020 – 9.7 units as of January 1, 2021 – 11.8 units
Russia has allowed starting from March 5 the imports of vegetable products from nine countries, including Uzbekistan, Rosselkhoznadzor stated in a statement. In particular, the Rosselkhoznadzor allowed import of: tomatoes from Armenia and Azerbaijan; tomatoes and peppers from Belarus, Kazakhstan, Kyrgyzstan, Turkey, Turkmenistan and Uzbekistan; potatoes from Egypt, zucchini and eggplant from Turkey. The import…
As of January 1, 2022, the Uzbekistan unemployment rate topped 9.6%, recording a 0.9% decrease to the same period last year, and increased by 0.2% compared to January-September 2021. According to the Ministry of Employment and Labor, as of January 1, 2022, the number of manpower now stands at 19.3 million people, an increase of…
In January 2022, Uzbekistan exported 5.7 thousand tons of tomatoes to 7 countries for $3.5 million. According to the State Statistics Committee, the volume of tomato exports decreased by 1.7 thousand tons compared to the same period last year. During the reporting period, the republic exported tomatoes mainly to the following countries: Kazakhstan – 4 thousand…
As manufacturers become more mindful of the quality of their apparel, exports from Bangladesh to the USA have risen by more than 49 percent (year-on-year) to $5.08 billion during July-January period of 2021-’22 fiscal year. According to Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the country’s apparel shipment during the corresponding period of the earlier…
In the last two pandemic years, as transporting merchandise got difficult, Bangladesh’s apparel manufacturers started looking for their nearest destinations for export (and import) trade. In the Covid-19 pandemic time, Bangladesh’s exports to a number of countries rose notably. According to the Bangladesh Garment Manufacturers and Exporters (BGMEA) Association, apparel exports during the July-January period…
Uzbek diplomats met with the Chairman of the China Chamber of Commerce for the Import and Export of Textiles and Clothing (CCCT) Cao Jiyazhang, a Dunyo correspondent reports. The head of the Chamber was informed about the priorities of the economic development of Uzbekistan, the export and investment potential of the textile and light industry…
In January 2022, Uzbekistan exported 3.3 thousand tons of textile products to 14 countries for $18.8 million. According to the State Statistics Committee, the export of textile products increased by $2.1 million compared to the same period last year. During the reporting, Uzbekistan exported textile products mainly to the following countries: – Russia – $7.3 million–…
The President approved the state program of the Development Strategy for 2022. What are the goals for the economy this year? Over the next 5 years, the National Economic Development Section of the Development Strategy will increase GDP per capita by 1.6 times (from $1,750 to $2,800) and per capita income – by $4,000 until…
Bangladesh’s apparel exports have kept on its green patch as it registered more than 52% year-on-year growth – amounting to $1.63 billion – in the first two weeks of March amid the Russia-Ukraine war, thanks to continued global demand and the country’s leveraging of anti-China sentiments in the United States and the European countries. The…
Driven by access to regulated destinations, cheap products, high quality Medicine exports to the developed countries are steadily growing riding on the attainment of regulatory approval from the US, European and some other countries helped by Bangladesh’s capacity to produce high-quality drugs at affordable prices. As a result, shipment rose significantly in the markets of…
New ILO findings showed that Uzbekistan- the sixth-largest cotton producer in the world- has succeeded in eradicating systemic forced labor and systemic child labor during the 2021 cotton production cycle. Earlier, almost two million people are recruited each year for the annual cotton harvest in Uzbekistan since the reform process of the country’s cotton sector…
The Uzbek brand Eco fruit is currently participating in the Gulfood International Exhibition of Agricultural Products in Dubai, United Arab Emirate Gulfood is the world’s largest and most prestigious annual exhibition of the food and beverage industry. The fare is expected to be attended by about 5,000 companies from over 120 countries and more than…
In January 2022, Uzbekistan imported about 41 thousand tons of potatoes from 7 countries for $7.8 million. According to the State Statistics Committee, potato imports decreased by 953.2 tons compared to the same period last year. During the reporting period, Uzbekistan imported potatoes mainly from the following countries: – Pakistan – 21.1 thousand tons– Kazakhstan –…
In January 2022, Uzbekistan exported 78.6 thousand tons of fruits and vegetables worth $55.1 million. According to the State Statistics Committee, exports increased by 14.8 thousand tons compared to the same period last year. The volume of exports during the reporting period: Fruits and berries – 10.1 thousand tons Dried fruits and berries – 3.7 thousand…
The entrepreneur must invest at least $30 million in this project over 5 years and bring the annual fish catch to 15,000 tons. A presidential decree “On measures to improve the management of the Aydar-Arnasay system of lakes” was adopted. According to this document, it was instructed to transfer Aydar-Arnasay System of Lakes LLC to…
In 2021, Uzbekistan imported 32.2 thousand tons of tea worth $ 42.8 million from 24 countries, the State Statistics Committee said. Reportedly, tea imports increased by 836 tons compared to 2020. The top spot country in 2021 from where Uzbekistan imported the largest amount of tea was China on 25.8 thousand tons, followed by Kenya…
Uzbekistan’s international trade topped 3.5 billion US dollars in January 2022, the State Statistics Committee said in a report on Monday. Reportedly, the volume of exports surpassed $1.4 billion, with products at $1.2 billion, services at $176.5 million. While, the volume of imports topped $2.1 billion, with products – $1.9 billion, services – $147.1 million.…
According to the State Statistics Committee, as of 1 February 2022, the number of enterprises and organizations with foreign capital registered in Uzbekistan made up 13,800, of which 13,400 operate. The number of operating enterprises with foreign capital increased by 1,474 compared to the corresponding period last year. When considering the number of enterprises with…
As of 1 January 2022, in Uzbekistan, per 1 sq. km. land area has an average of 78.6 permanent residents. This is 1.6 people more than in the same period last year (77 people per 1 sq. km in 2021). The average population per 1 sq. km. lands by regions: Karakalpakstan – 11.7 people Andijan…
The Center for Economic Research and Reform (CERR) regularly analyzes changes in demand in the real estate market in Uzbekistan. CERR analysis showed a seasonal decrease in activity in the real estate market. At the beginning of January and mid-summer, the demand for housing traditionally decreases. By purchasing property during this time, buyers can save.…
Resolution of the Cabinet of Ministers “On additional measures to accelerate the development of the building materials industry in the Bukhara region” was adopted. To accelerate the development of the building materials industry in Bukhara region, attract investment in the processing of local minerals, the production and export of competitive products by the cluster method,…
During the international exhibition Dubai EXPO 2020, representatives of Thermal Power Plants held talks with representatives of Japan’s Mitsubishi Corporation on the implementation of future projects. Thermal Power Plants has been cooperating with Mitsubishi Corporation, MELCO, and Mitsubishi Hitachi Power Systems on large investment projects for 10 years. Over the past years, JSC Navoi TPP,…
The Center for Economic Research and Reform (CERR) regularly analyzes changes in sales in the car market. The analysis of the Center for Economic Research and Reforms showed that sales in the domestic car market since the beginning of the year have shown a rapid breakthrough. However, growth is mainly driven by activity in the…
According to the State Statistics Committee, in 2021 Uzbekistan imported furniture products worth US$100.7 million from 59 foreign countries. The volume of imports of furniture products compared to 2020 increased by almost US$10.9 million. Countries from which Uzbekistan imported the most furniture products in 2021: Korea – US$32.6 million China – US$20.2 million Turkey –…
In total, in January 2022, the enterprises of the chemical industry of the Republic of Uzbekistan produced products worth 1.97 trillion soums. The index of physical volume of the network in relation to January 2021 amounted to 102.8%, the State Statistics Committee of Uzbekistan said. The largest share in the total volume of products manufactured…
C&A, is a Dutch multinational of sustainable-oriented retail clothing stores, with European head offices in Vilvoorde, Belgium, and Düsseldorf, Germany. It has retail stores in many European countries. It serves the largest markets of Asia, North America, and South America. C&A, one of the leaders in the global fashion market, is well-positioned to continue its…
After losing its second position as the second-largest apparel exporter in the global market to Vietnam in 2020, Bangladesh regained it in 2021 with export earnings of $35.81. According to the Export Promotion Bureau (EPB) data, Bangladesh earned $35.81 billion in 2021, while Vietnam earned $32.75 billion in the same period as per the data of…
State Tourism Committee, together with Navoi region officials, has studied infrastructure facilities for geo-tourism and industrial tourism in the Amantoytov and Dovgiztov fields of the Navoi Mining and Metallurgical Combine (NMMC). According to the committee, it aims to introduce new types of tourism. “In recent years, geotourism has become popular as a new direction of the…
On January 31, President Shavkat Mirziyoyev got acquainted with projects to develop Tashkent. The presentation focused on investment and export issues. Reportedly, a total of $3.8 billion will be invested in 738 projects in Tashkent this year. Of that, $2 billion will be a foreign direct investment. It is planned to create 27,000 new jobs in 2022.…
In 2021, Uzbekistan exported 75.2 thousand tons of persimmon to 12 countries for $34.4 million. According to the State Statistics Committee, persimmon exports decreased by 22.2 thousand tons compared to 2020. Over the year, the republic exported persimmon mainly to the following countries: Kazakhstan – 38.2 thousand tons Russia – 30.2 thousand tons Turkmenistan – 3.3…
IFC signed an agreement on February 2 to assist the government of Uzbekistan in privatizing one of the leading players in the country’s chemicals and fertilizers sector – to help modernize the industry and drive greater foreign direct investment and growth. Under the agreement between IFC and the Uzbek State Assets Management Agency (SAMA), IFC will act…
The most popular travel destinations in June, July, and August 2022 have become Moscow, St. Petersburg, and Istanbul, Aviasales.uz analysts report. A round-trip ticket for one person to St. Petersburg costs an average of 3,636,263 soums, a flight to Istanbul will cost more – 4,012,429 soums, and to Moscow, on the contrary, cheaper – 3,115,902…
In 2021, Uzbekistan produced 1,003 buses. According to the State Statistics Committee, bus production increased by 56.2% compared to 2020. The number of buses produced by months: January – 6 February – 35 March – 106 April – 118 May – 58 June – 172 July – 87 August – 20 September – 94 October –…
Analysts from the travel service Tutu.ru studied the data on which foreign cities Russians most often booked flights to in February. Tashkent has become one of the most popular destinations – only Yerevan and Istanbul are ahead of it. In addition to Tashkent, other cities of the country – Samarkand, Urgench, Fergana and Bukhara –…
In order to provide the population of the republic with basic foodstuffs in the spring of 2022, a total of 626.6 thousand tons of agricultural products have been stockpiled in Uzbekistan, the head of the information service of the Agriculture Ministry Nigora Khodjayeva announced at an AIMC briefing. “In order to provide the population of…
An international resort for 6,000 tourists is expected to be built in the Chimgan mountain range, the Ministry of Tourism and Sports announced at a press conference on February 1. The construction will be financed by the French Treasury, foreign and domestic direct investment. The total investment in the project is $269 million. In the…
The President approved the state program of the Development Strategy for 2022. What are the goals for the economy this year? Over the next 5 years, the National Economic Development Section of the Development Strategy will increase GDP per capita by 1.6 times (from $1,750 to $2,800) and per capita income – by $4,000 until…
Export earnings reached an impressive $29.55 billion in the first 7 months of the current fiscal (2021-22) from July to January indicating that a strong economic recovery is taking place in countries of Bangladesh’s main export destinations. This is going to be a record-breaking year for business recovery in the west. Out of total export…
Garment manufacturers are confident about supplying garment products worth $8 billion a month to international buyers after Bangladesh consolidated its place in the global supply chain by remaining open for businesses even during the peak of the coronavirus pandemic. The government’s bold move contrasts to many garment-producing countries that kept shut factories to tame the…
According to the Office of Textiles and Apparel (OTEXA) data, Bangladesh’s apparel export achieved a growth rate of 30.68% in the first 11 months of 2021. Outshining its competitors China and Vietnam. Bangladesh also remained in the third top readymade garment (RMG) exporting to the US by fetching $6.36 billion from January to November period…
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 Navoi region. The cotton clusters are created: a total of 3,880 hectares of land with a…
In January-December 2021, the foreign trade turnover (FTT) of Uzbekistan reached US$42.1 billion, which, compared to the same period in 2020, increased by US$5.8 billion (an increase of 16.0%), the State Statistics Committee of Uzbekistan said. Of the total volume of the FTT, exports amounted to US$16.61 billion (an increase of 10.0% compared to January-December…
The volume of agricultural, forestry, and fisheries production in Uzbekistan in 2021 made up 317.8 trillion soums, an increase of 4.0 percent compared to the corresponding period of last year. In the production of agricultural products, the share of dekhkan farms is 66.0 percent (growth by 2.1 percent), farms – 29.3 percent (5.0 percent), organizations…
The presidential decree “On measures to encourage deep processing and production of high value-added finished products and their export at textile and garment enterprises” was adopted. A textile support fund has been established. From February 1, 2022, to January 1, 2025: • Enterprises implementing projects for the production of mixed and dyed fabrics in the Republic…
A Presidential Decree “On measures to stimulate deep processing, production and export of finished products with high added value by textile and clothing and knitwear enterprises” was adopted. The Decree established the Textile Industry, Support Fund. According to the Decree, from 1 February 2022 to 1 January 2025: enterprises that have implemented projects for the…
In the city of Navoi, construction of 13.7 billion soums worth of “Tourism Street” for tourists has started. According to the project, new granite stones will be laid in the area, pedestrian and bicycle paths, selfie areas, dining facilities for locals and tourists will be built. From the intersection of Islam Karimov and Amir Temur…
The popular British publication The Independent has named the 9 most popular countries for travel in 2022. The list includes the Channel Islands, Egypt, Turkey, Spain, Uzbekistan, Northern Ireland, Bhutan, Italy, and Canada. The editor of the publication says that a trip to Uzbekistan will be very impressive. “The country relaxed its entry policy a…
Uzbekistan plans to increase the volume of exports of software products and services to US$1 billion. Minister for the Development of Information Technologies and Communications, Chairman of the Board Sherzod Shermatov gave the relevant instructions during an expanded meeting of the Board of the Ministry. It was noted that the President of Uzbekistan put forward…
From 1 January 2022 to 1 January 2023, Uzbekistan reduced the amount of compensation from the state budget to cover part of the costs of tourism entities and air carriers for organizing charter flights from foreign countries to Uzbekistan. The President of Uzbekistan signed a decree “On the creation of additional conditions for the further…
The UNGA has adopted a resolution on Bangladesh’s graduation from the list of LDCs in 2026. The decision coincides with the celebration of 50 years of the country’s independence. The journey towards becoming a developing country was not smooth. The obstacles came in many forms, from corruption to political instability to violence to natural calamities-…
Bangladesh’s exports to traditional markets including the US and the EU grew in 2021. Exports to its single largest market, the US surged from 17.5 percent in 2018 to 20.30 percent in 2021, says Faruque Hassan, President, BGMEA. It totaled $7.28 billion in 2021. The share of woven garment exports was worth $4.65 billion while…
According to a study conducted by UN experts on e-waste in Uzbekistan and Central Asia, over the past decade, the amount of e-waste in landfills in the CIS countries and Georgia has increased by one and a half times. The study shows that from 2010 to 2019, the volume of purchased electronic equipment increased by…
The 18th International Gastronomic Culinary Festival was held in Istanbul, where representatives of the Association of Chefs of Uzbekistan took part and, following the results of all 4 days of the festival, won 8 gold, 5 silver, 3 bronze medals. The festival was attended by chefs from around the world, as well as world-class judges…
In January-November 2021, Uzbekistan imported 27.6 thousand tons of meat, the State Statistics Committee said in a report on Tuesday. Reportedly, meat imports increased by 8.4 thousand tons compared to the same period of 2020. Most of the meat was purchased from Belarus (18.7 thousand tons), Kazakhstan (4.2 thousand tons), Ukraine (2.6 thousand tons), Russia…
Last year, Uzbekistan drew $ 8.6 billion in foreign direct investment, it was announced on the 5 January meeting chaired by Deputy PM Sardor Umrzakov. At the meeting it was stated that in 2021 a total volume of disbursed investments reached 254 trillion soums, or US$ 23 billion, recording an increase of 109% compared to…
According to the State Statistics Committee, in January-September 2021, 7.8 million tons of vegetables were grown in the Republic, this figure increased by 3.3% compared to the corresponding period of 2020. Total vegetables are grown by region: Republic of Karakalpakstan – 199.4 thousand tons Andijan region – 1.22 million tons Bukhara region – 653.2 thousand…
In 2021, 5.46 million tonnes of coal products were supplied to consumers. This was reported by the press service of the Ministry of Energy. All indicators for the supply of coal in accordance with the approved schedules for the period of 2021 were performed by Uzbekugol ahead of schedule. In particular, in the autumn-winter period…
Uzbekistan plans to increase electricity generation by 40 billion kilowatt-hours by 2026. This goal is set in the draft roadmap for the Development Strategy of New Uzbekistan for 2022-2026. As a result, Uzbekistan will annually generate 110 billion kilowatt-hours by 2026, the document says. At the same time, the share of renewable sources in the…
Salman Fazlur Rahman, adviser on private industry and investment to Prime Minister Sheikh Hasina, said the country’s shipment of pharmaceutical products may cross the US$5.0-billion mark within the next three to five years. “Pharma export makes up about $1.0 billion now, but we expect to cross the $5.0-billion mark in the next three to five…
This would represent an 18-place gain in the rankings in the next 14 years The Centre for Economics and Business Research (CEBR) has predicted that Bangladesh is set to take the crown for the 24th largest economy of the world within 14 years, according to a report published Sunday. This would represent an 18-place gain…
How entrepreneurial daring and sensible government policy enabled Bangladeshi exporters to cash in on geopolitical changes, absorb surging input prices, and beat the raging pandemic The year 2020 was the worst year for the 40-year-old apparel industry of Bangladesh, the country’s main export earner and the source of livelihood for more than four million people. That year witnessed discounts,…
Shavkat Mirziyoyev has approved Uzbekistan’s Investment Program for 2022-2026. The document provides for introducing new approaches in this area. In particular, the authorities will introduce a project management system for investment initiatives. For this purpose, a special central office will be created in the Ministry of Investments and Foreign Trade, and in the regions –…
The State Statistics Committee has announced Uzbekistan’s TOP-10 trade partners for January-November 2021. According to the committee, China, Russia and Kazakhstan were major trading partners of Uzbekistan during the reporting period: China – $6.7 billion, exports – $2.3 billion, imports – $4.4 billion Russia – $6.6 billion, exports – $1.9 billion, imports – $4.7 billion…
In the ending year, it was officially announced that Uzbekistan’s GDP grew by 7%, and inflation fell from 10% for the first time in many years. Shavkat Mirziyoyev said that in 2022, GDP growth should not be less than 7%, On December 30, a videoconference meeting chaired by President Shavkat Mirziyoyev was held to ensure…
a new cable car – Amirsoy Express took place in the ski resort Amirsoy, located in the Tashkent region. The solemn ceremony was opened by Deputy Prime Minister – Minister of Tourism and Sports Aziz Abdukhakimov. The Ministry of Tourism and Sports organized a press tour for local and foreign media representatives. In recent years,…
The Cabinet of Ministers adopted Resolution “On approval of the regulation on the procedure for allocating subsidies to individuals for the grown harvest of silkworm cocoons (raw silkworm)”. In accordance with the Resolution of the President No. PP-5178 from 8 July 2021 “On additional measures for the efficient use of existing pastures and support for…
About 63.27 billion kWh of electricity was produced in the Republic of Uzbekistan in January-November 2021. Compared to the corresponding period of last year, the volume of electricity production increased by 5.22 billion kWh, the growth rate was 9.0%. Tashkent region has a share of 23.0%, Syrdarya region 22.7%, Kashkadarya region 19.0%, and Navoi region…
In order to ensure greater comfort for passengers and create additional opportunities for the development of domestic tourism, Uzbekistan Temir Yollari will run a high-speed train number 767/768 Afrosiab between Tashkent and Samarkand. According to the timetable, the high-speed train No. 767 “Afrosiab” will run on Sundays at 10:50 on the route “Samarkand – Tashkent”,…
The structure of Uzbekistan’s international trade in January-November 2021 has been unveiled by the State Statistics Committee. Reportedly, Uzbekistan’s international trade in 11 months topped 15.5 billion US dollars, while imports reached 22.4 billion US dollars. The structure of exports, in USD: industrial products – 4 billion; services – 2.3 billion; food and live animals…
Neighboring India is the main destination for Bangladeshi tourists traveling abroad. In second and third place in Saudi Arabia in the Middle East and Malaysia in Southeast Asia, respectively. Behind it is Thailand. A survey by the government agency Bangladesh Bureau of Statistics (BBS) has revealed such information. According to the survey titled ‘Tourism Satellite…
In spite of the coronavirus pandemic and consequent lockdown, Bangladesh has set a new record in apparel export in the just-gone 2021 calendar year. According to an official of the Export Promotion Bureau, the country shipped garments worth $3.8 billion in December and took the annual export figure to $35.57 billion, which was $2.5 billion…
Bangladesh has reported a growth of over 22 percent in pharmaceutical exports that crossed the $100-million mark during the first half of the fiscal year ended in December 2021. This strong growth in pharmaceutical exports came at a time when the coronavirus pandemic has rattled many businesses across the world. According to the latest data…
Bangladesh earlier recorded a single-month highest export earnings in October last year Bangladesh recorded its highest ever single-month export earnings amounting to $4.91 billion in December last year, data showed Sunday, thanks to a strong rebound in demand for apparel in western markets even amid the Omicron spread. The export receipts surpassed the $3.91 billion…
The main types with a high share in the foreign trade turnover of the Republic of Uzbekistan in January-November 2021: Exports -US$15.5 billion Industrial products – US$4 billion Services – US$2.3 billion Food and live animals – US$1.2 billion Chemical products – US$1 billion Mineral fuels and lubricants – US$821 million Various finished products –…
A universal high-precision underfloor wheel lathe manufactured by the Spanish company Talgo was put into operation at the Uzbekistan locomotive depot. This machine is designed for turning wheelsets of electric locomotives, diesel locomotives, and electric trains in depot conditions without rolling them out from under the locomotive. The new equipment has a high sensitivity when…
UzAuto showed the first new-generation Chevrolet Tracker crossovers assembled in Uzbekistan. In 2022, this model returns to our market. UzAuto Motors is preparing to launch the production of a new generation of compact crossover Chevrolet Tracker in 2022, which will be supplied to our market. The second-generation Chevrolet Tracker made its debut in China in…
The Turkish Aksa Enerji is implementing an of 240 MW combined cycle power plant construction project and a 230 MW gas piston power plant in Tashkent province under the public-private partnership terms. Construction, installation, and commissioning works are underway at the facility. Yesterday, on December 22, the first voltage was applied to the open switchgear…
The annual revenues of Uzbekistan’s copper industry top $ 2.5 billion, Umida Karshibaeva, spokeswoman to the Almalyk Mining and Metallurgical Kombinat (AMMC), announced at a briefing. She said that over the past 5 years AMMC had significantly increased copper production. If in 2017 109,885 tons of copper were produced, then at present the plant produces…
Bangladesh has improved its quality of life, economic strength, and prosperity, education, and research in every field. And that is why in past Bangladesh was said to follow the developed countries to move forward. Today the countries in Africa are being urged to look towards Bangladesh. No development in Bangladesh today is a surprise, but…
The economy has boomed and exports have soared but vulnerabilities remain Bangladesh is marking the 50th anniversary of its independence from Pakistan today, buoyed by economic progress and relatively successful response to the coronavirus pandemic — but aware of the progress still needed to lift more of its 163 million people, 2% of the global…
Bangladesh is now considered one of the most remarkable economic success stories in Asia. A country soon after its birth in 1971 was described as an “international basket case” by Ural Alexis Johnson, the former US Under Secretary of State, and the country also faced nearly insurmountable challenges. Bangladesh now with a GDP of US$…
Uzbekistan launched its first gas-to-liquids plant on Saturday, a $3.6 billion project to extract value from domestically produced gas and reduce its dependency on imports of oil products. The UzGTL plant in the southeastern Qashqadaryo province will produce 1.5 million tonnes a year of synthetic liquid fuels, such as kerosene, diesel, liquefied petroleum gas, and…
Bangladesh marks 50 years of its independence. The independence was earned through a hard-fought bloody war against Pakistan in 1971. The golden jubilee of independence is the biggest milestone for the nation to celebrate. The country and its people have repeatedly overcome hurdles after hurdles to become a South Asian powerhouse. Today, the country’s economic…
What will our lives as citizens look like in 2071 when the nation celebrates the country’s birth centennial? The answer lies in what we strive to become in the next 50 years, in terms of the economy and society, banking on how far we have come in the first 50 years of independence. LDC graduation…
The volume of Uzbekistan’s official reserves as of 1 December 2021 exceeded US$ 34.75 billion, according to data from the Central Bank. According to the regulator, this indicator decreased by US$ 472 million compared to the previous month. The regulator notes that reserves in foreign currency as of 1 December amounted to US$ 13.19 billion…
On 13 December, the shooting of the tourist TV show “The World’s Dangerous Roads” by the world-famous TV company Warner Brothers ended with a solemn finish in Samarkand. Assistance in organizing the filming was provided by the Ministry of Tourism and Sports of the Republic of Uzbekistan. The producers of the program made a special…
Uzbekistan, the geographic and political center of Central Asia, is an important market and trade center along the Silk Road, the ancient trade route that linked China with Europe and the Middle East. A long history of world-class cotton, silk, and wool production exists in the region. If you take a closer look, Uzbekistan boasts…
UzAuto Motors is recalling Nexia, Cobalt, and Lacetti cars produced from 5 to 17 December 2021. This was reported by the press service of the company. This decision is due to the need to check the operation of the rear window heater, the company notes. All work will be carried out by UzAuto Motors employees…
According to preliminary data, in January-November 2021, enterprises of Uzbekistan produced industrial products worth 397.3 trillion soums, the index of physical volume of industrial production by the same period in 2020 amounted to 109.3%, the State Statistics Committee said. In the structure of production, the largest share falls on manufacturing enterprises (82.7%), the volume of…
In January-November 2021, Uzbekistan’s foreign trade turnover reached US$37.94 billion, which, compared to the same period in 2020, increased by US$4.95 billion (an increase of 15.0%). This was reported by the State Statistics Committee of Uzbekistan. Of the total volume of the foreign trade turnover, exports amounted to US$15.45 billion (an increase of 8.9% was…
UzAuto Motors from 20 December 2021 to 1 February 2022 suspends accepting new applications for the sale of Nexia, Spark, Cobalt, Lacetti cars. This was reported by the press service of the company. During this period, the company will focus all its efforts on the production of pre-ordered vehicles. This decision was made due to…
The European Bank for Reconstruction and Development (EBRD) is stimulating the local production of pharmaceuticals in Central Asia’s most populous country, Uzbekistan, by extending a senior loan of up to US$ 5 million to local producers Nika Pharm. Nika Pharm is an established manufacturer of generic pharmaceuticals and prescription drugs for use in the treatment…
Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov met with the Ambassador Extraordinary and Plenipotentiary of the Republic of India to the Republic of Uzbekistan Manish Prabhat. The agenda of bilateral cooperation with a focus on interaction in the investment, trade, economic, cultural, and humanitarian spheres…
New transport and transit projects will contribute to economic recovery and recovery in the post-period period for the countries of Central and South Asia. This point of view was expressed by the deputy director of the Institute for Strategic and Interregional Studies (ISMI) under the President of Uzbekistan Sanjar Valiev speaking at the expert meeting…
On 10 December 2021, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov held a meeting on trade, economic, and investment cooperation between Uzbekistan and the UAE. The meeting was attended by the leadership and employees of the Ministry of Investment and Foreign Trade, its representative office…
In connection with the opening of the international airport Samarkand, Uzbekistan Airways resumes regular flights to the following directions – Samarkand-Moscow-Samarkand, Samarkand-Istanbul-Samarkand, Samarkand-Almaty -Samarkand, Samarkand-Saint Petersburg-Samarkand from 17 December. Air tickets can be purchased on the official website of the airline, at the Uzbekistan Airways Sales branch, or from the airline’s agents.
India and Uzbekistan are expected to sign a slew of MoUs and Agreements in the field of the development partnership, renewable energy, capacity building at Friday’s summit which will be Delhi’s maiden virtual summit with the Central Asian region. Central Asia is often referred to as an extended neighborhood’ and India’s outreach to Uzbekistan is…
The prospects to resume buying cotton from Uzbekistan have improved for Bangladesh after the United States lifted the ban on sourcing the key textile raw material from the country following significant progress in ending forced labour. Until 2007, when a boycott campaign was launched against Uzbek cotton, the central Asian country was the single largest…
Nothing says “transformation” like mobile phone ownership and in the last five years, Uzbekistan has seen an explosion of smartphone sales and telecoms services as the state-owned national champion Uztelecom has invested heavily into its infrastructure and vastly expanded its services to become the biggest player in Central Asia. The reform of the Central Asian telecoms system…
During the IV meeting of the Kazakh-Uzbek Business Council, held as part of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the city of Nur-Sultan, the Cinematography Agency of Uzbekistan and the Ministry of Culture and Sports of Kazakhstan signed a memorandum of cooperation in the field of cinematography.…
Uzbekistan imported more than 303,300 mobile phones worth US$20.9 million in October 2021, the State Statistics Committee of Uzbekistan said in a statement. Compared to September 2021, the volume of imports of mobile phones increased by 5,460 units. In January-October, Uzbekistan imported 2.2 million mobile phones for US$154.2 million. Growth compared to the same period…
For the first time in the country’s history Uzbekistan to host a General Assembly of the World Tourism Organisation The 25th session of the General Assembly of the World Tourism Organization (UNWTO) will be held in 2023 in Samarkand. This was stated by Deputy Prime Minister of the Republic of Uzbekistan, Minister of Tourism and…
The Regulation on the procedure for the creation and operation of a special regime for supporting artificial intelligence technologies was approved by the Government resolution on 29 November 2021. A special regime in accordance with the Regulations is a separate link of the IT-park, where separate legal benefits are created, and software products are tested…
Domestic textile, leather, and footwear products to be presented at the largest European exhibitions
A business tour of representatives of domestic textile, leather, and footwear enterprises, organized by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan, will be held from 1 to 11 December 2021 in Poland, Italy, France, and Spain has been launched. The tour is organized in order to effectively use the preferences…
In January – October 2021, Uzbekistan exported shoes to 14 foreign countries worth about US$30 million. The export of footwear is US$1.8 million less than in the same period last year. Countries that Uzbekistan exported the most shoes in 10 months of 2021: Kyrgyz Republic – US$16.5 million Kazakhstan – US$7 million Tajikistan – US$4.5…
China is the largest producer of processed fruits and vegetables, including raisins and beans in the world. At the same time, the PRC imports large quantities of dried fruits and nuts to meet the growing demand in the country. So, Uzbekistan supplies to China a number of dried fruits, such as peanuts, walnuts, apricot seeds,…
The current state of work on the extraction and processing of natural gas has radically changed in the Gazli oil and gas production department. Along with the improvement of the living conditions of workers and workers, and employees of modern structures, a number of measures have been identified to meet the needs of the population…
Artel Electronics LLC (Artel) becomes third Uzbek company to join UNGC, and joins Coalition of Business Champions for the Sustainable Development of Uzbekistan This week, Artel Electronics LLC (Artel), Central Asia’s largest home appliance and electronics manufacturer, has become an official participant of the United Nations Global Compact (UNGC). Launched in 2000, the UNGC is a voluntary…
The Special Republican Commission has adopted a decision to suspend air traffic with 10 countries to prevent the entry of the “omicron” strain of coronavirus into Uzbekistan. In accordance with the decision, from December 3 to January 10, 2022, citizens of South Africa, Botswana, Namibia, Zimbabwe, Mozambique, Madagascar, Lesotho, Eswatini, Tanzania, and Hong Kong, those…
In the first 10 months of the current year, Uzbekistan exported 1.2 million tons of fruits and vegetables for $747.4 million. During the period under review, the country exported 267.2 thousand tons of fruits and berries, 649.1 thousand tons of vegetables, 13.9 thousand tons of pepper, 169.6 thousand tons of grapes, 34.1 thousand tons of…
In January-October 2021, Uzbekistan produced 902.7 thousand tons of gasoline, the State Statistics Committee reported. According to the committee, the highest volume of motor gasoline production falls in March – 106 thousand tons. Gasoline production by months: January – 93.9 thousand tonsFebruary – 91.4 thousand tonsMarch – 106 thousand tonsApril – 77.3 thousand tonsMay – 87.6…
In the course of the meeting with the participation of Shavkat Mirziyoyev, the President outlined the tasks in the development of alternative energy in Uzbekistan, Gazeta.uz reports referring to the presidential spokesman Sherzod Asadov. “It is necessary to increase the total capacity of solar and wind power plants to 8,000 MW by 2026 (the previous…
The Uzpromstroymaterialy Association has organized another press tour for the media. The participants got acquainted with the activities of Orient Keramik LLC, a leading manufacturer of ceramic tiles in the country. The event was attended by more than a dozen journalists and bloggers. Initially, the media got acquainted with the workshop for the production of 3.6 million…
According to preliminary data, in January-October 2021, enterprises of Uzbekistan produced industrial products worth 356.1 trillion soums, the index of physical volume of industrial production by the same period in 2020 amounted to 109.5%, the State Statistics Committee of Uzbekistan. In the structure of production, the largest share falls on manufacturing enterprises (82.9%), the volume…
According to the results of January-October 2021, Uzbekistan’s foreign trade turnover reached US$32.65 billion, which, compared to the same period in 2020, increased by US$2.55 billion (an increase of 8.5%), the State Statistics Committee of Uzbekistan said. Of the total volume of the foreign trade turnover, exports amounted to US$12.43 billion (by January-October 2020, a…
The Muruntau gold mine, located in the Qizilqum (aka Kyzyl-Kum) desert in Uzbekistan, is the world’s biggest open-cast gold mine. Discovered in 1958, surface mining started in 1967 and dug the giant kilometers-wide hole that the mine is today. Owned and operated by Uzbekistan’s state Navoi Mining & Metallurgy Kombinat (NMMC), it is also going…
To support the initiative of Uzbek President Shavkat Miromonovich Mirziyoyev’s to implement cotton textile clusters and develop agriculture, Posco International Textile has expressed its readiness to set up such a cluster. This was discussed during a recent meeting of the company management with the Uztekstilprom Association chairman Ilkhom Khaydarov. The company will start work on…
Uzbekistan has become the first country in the world to join the UK’s GSP Enhanced Framework. The Ministry of Investments and Foreign Trade of Uzbekistan and the British Embassy in Tashkent held a press conference on November 22, during which it was announced that Uzbekistan had become the first beneficiary of the Enhanced Framework of the Generalized…
UzAuto Motors announced the forced stop of the conclusion of contracts for the supply of Chevrolet Captiva 5 cars. “In this regard, the management and staff of Uzauto Motors JSC bring its customers the deepest apologies for the inconveniences brought to our customers, and believes that the decision made, at the moment, is the only…
On 19 November, the President of Uzbekistan paid a visit to the Russian Federation, during which a significant package of documents on bilateral cooperation in various fields was signed. As part of the state visit, a media forum in the format of a video bridge was held, in which representatives of the mass media of…
Both institutions mutually agreed to continue the exchange of ideas in order to materialize dynamic and instrumental projects successfully together in the near future In order to advance its global network and international partnerships, American International University-Bangladesh (AIUB) engaged in an enriching and enlightening discussion with the Uzbekistan IT Park on November 14. As a…
52,454 Cobalt cars were produced in Uzbekistan in January-October 2021. According to the State Statistics Committee, during the reporting period, 45,644 units of Damas, 37,557 units of Lacetti-Gentra, 21,758 units of Nexia T-250, 12,693 units of Labo, and 7,264 units of Spark cars were produced. It is noteworthy that Lacetti-Gentra production increased drastically in September and…
The program is aimed at strengthening and diversifying trade and economic ties based on the mutual interests of the two countries Russia and Uzbekistan signed a comprehensive program on economic cooperation between governments of two countries for 2022-2026, the press service of the Russian Ministry of Economic Development reported. “The new document caters for the…
Russia and Uzbekistan signed a comprehensive program of economic cooperation between the governments of the two countries for 2022-2026. The document was signed within the framework of the second Forum of Interregional Cooperation between Russia and Uzbekistan held in Moscow by the Co-Chairs of the Intergovernmental Commission – Minister of Economic Development of the Russian…
Central Asia’s largest multitemperature vaccine storage warehouse was launched n Uzbekistan by the United Nations International Children’s Emergency Fund. Central Asia’s largest multitemperature vaccine storage warehouse was launched in Uzbekistan by the United Nations International Children’s Emergency Fund (UNICEF) on Saturday. Uzbekistan’s UNICEF stated that it is a significant milestone that the agency handed over the Republican Cold Chain Warehouse, Central…
President of the Republic of Uzbekistan Shavkat Mirziyoyev arrived in Russia on November 19 at the invitation of the President of the Russian Federation Vladimir Putin. The high-level talks were held in the Moscow Kremlin. Vladimir Putin warmly welcomed the President of Uzbekistan, congratulated him again on his convincing victory in the last Presidential election…
TASHKENT — Representatives of business and government participated in the forum “Gas Chemical MTO Complex: Technologies of the New Uzbekistan” on November 16 in Tashkent. Uzbekistan’s Minister of Energy Alisher Sultanov and MTO complex project director Masrur Shakirov, who is also deputy CEO of the founding company SEG, delivered a welcome address to an audience…
President of Uzbekistan Shavkat Mirziyoyev and President of Russia Vladimir Putin held a meeting in the Kremlin. “First of all, I would like to congratulate you on your sweeping victory at the presidential election. We have spoken many times about your first steps as President of Uzbekistan and mentioned that there is important and difficult…
Issue 1006 – 16.11.202116.11.2021 President of Uzbekistan contributes to the promotion and expansion of cooperation between Turkic states President of the Republic of Uzbekistan Shavkat Mirziyoyev, in his speech at the VIII Summit of the heads of Turkic states, came up with an initiative to join efforts through the creation of a platform for experts…
In the 2021 season, Uzbekistan sharply decreased the supply of some fruits to the Russian market. Peaches, nectarines, and plums exported from Uzbekistan in 2021 can already be analyzed, as they are usually either finished or minimal in October. Normally, the main part of Uzbek melons is also already exported by September. The exports of…
Georgetown University has published the results of a survey naming the safest countries in the world for women. The UAE was ranked first in terms of community safety, with 98.5 percent of women saying they felt safe walking alone in their neighborhoods at night. Singapore came second at 96.9 percent, the UAE media reported. The…
The state budget for 2022 is expected to have revenues of 200 trillion soums and expenditures of 215.4 trillion soums. The Information Service of the Ministry of Finance has announced the draft State Budget for 2022. While GDP growth is projected at 6% in 2022, the downward trend in inflation is expected to continue and be around…
In connection with the announcement of November as the “Month of Tourism for the Elderly” in Uzbekistan, voluntary discounts have been introduced for services in hotels and restaurants. According to the Ministry of Tourism and Sports, voluntary discounts of up to 50% have been introduced in 223 accommodation services (hotels and guest houses) in the country,…
According to the press service of the Energy Ministry, several projects for the construction of hydropower plants have been launched in Uzbekistan. In particular, the UAE company Masdar signed agreements on the construction of a 500 MW wind farm in Tomdi district (Navoi region) worth $600 million. When this station is fully operational in 2024, it…
The President Shavkat Mirziyoyev chaired a government meeting on the privatization of state-owned enterprises in Uzbekistan on November 8, the presidential press service said. In 2021-2022, it is planned to reduce the number of enterprises with a state’s share by at least 3 times. 619 state assets worth 4.5 trillion soums have been sold year-to-date,…
In January-September 2021, Uzbekistan exported 25,171 vehicles worth US$ 242.5 million, the State Statistics Committee said in a report on Monday. Reportedly, compared to the same period last year, the export of the vehicle increased by 14,036 units. At the same time, in January-September 2021, Uzbekistan imported from 22 foreign countries about 18,150 passenger cars…
On 11 November 2021, A Memorandum of Understanding (MoU) was signed between the Bangladesh Association of Call Center and Outsourcing (BACCO) and IT Park Uzbekistan at the Hall of Fame, BICC, Dhaka with the aim of developing the BPO industry of both the countries. Mr. Wahid Sharif, President of BACO, and Mr. Farkhod Ibragimov, Chief…
Hi-tech Park authorities of both countries sign a memorandum of understanding (MoU) regarding this The hi-tech park authority of Bangladesh and Uzbekistan will work together for the development of Information Technology (IT), hi-tech manufacturing, policy and development, research, and innovation in both countries, said Zunaid Ahmed Palak, state minister for Information and Communication Technology. The…
The speed of recovery makes Uzbekistan the fastest growing economy in Central Asia, the European Bank for Reconstruction and Development (EBRD) says in its latest Regional Economic Prospects report, published today. The Bank is expecting Uzbekistan’s GDP to grow by 6.8 per cent in 2021 and 6.0 per cent in 2022. Growth is supported by…
From 10 to 12 November 2021, in Tashkent, training on “Balance of Payments and Trade Policy in the Framework of Accession to the World Trade Organization” and a seminar for private sector representatives on “Accession to the World Trade Organization, WTO rules on trade in services and domestic support” were held. The events were organized…
On November 6, Tashkent hosted a solemn ceremony of inauguration of the President-elect at a joint meeting of the chambers of the Oliy Majlis, the presidential press service said. Afterward, in line with article 92 of the Constitution, the president took the oath. Then Shavkat Mirziyoyev made remarks on priority areas for the next five…
President of Uzbekistan Shavkat Mirziyoyev congratulated medical workers on their professional day. “Sincerely, with all my heart, I congratulate you on your wonderful professional holiday – the Day of Medical Workers,” the Uzbek leader said. He noted that one of the founders of world medical science, the great healer Abu Ali ibn Sino said that…
On November 8, President Shavkat Mirziyoyev held a meeting on the privatization of state facilities. “The state participation in the economy is being reduced and the development of private entrepreneurship is being expanded. It is planned to reduce the number of state-owned enterprises by at least three times in 2021-2022. This year, 619 state assets…
Bangladesh and Uzbekistan have discussed the great prospects of information technology (IT) sector and agreed to work together in the sector. Alimjan Imarav, digital technology adviser to the prime minister of Uzbekistan, said on Thursday he will visit Bangladesh soon to sign a memorandum of understanding (MoU) to this effect. Alimjan Imarav has shown the…
Fashion is a platform for an individual, retailer, or country to grow. The industry has been running successfully for a long time now. Uzbekistan is a small country with many fashion wonders. Time and fashion are ever-changing things. People have invented clothes since the dawn of time to look better or to be more stylish,…
On 15 October, President of the Republic of Uzbekistan Shavkat Mirziyoyev attended the CIS Heads of State Council meeting via videoconference. The summit, chaired by the President of the Republic of Belarus Alexander Lukashenko, was also attended by the President of the Republic of Azerbaijan Ilham Aliyev, Prime Minister of the Republic of Armenia Nikol…
Renault is expanding its presence in the CIS countries and begins production and commercial activities in Uzbekistan. The entry to a new market for the brand was organized jointly with the partner of Renault Group in Uzbekistan, Roodell. “Uzbekistan is a fast-growing market of the Central Asian region, interest in new cars is steadily increasing…
On 12 October, a press tour for journalists of various media, organized by the Silverleafe, was held in Pakhtakor district of Jizzakh region. In 2018, representatives of the US company Silverleafe International arrived in Uzbekistan to participate in the reforms carried out by the administration of President Shavkat Mirziyayev. Interest in this country in Central…
Prime Minister Sheikh Hasina today said Bangladesh is now a model country in the world in disaster management as it has been able to ease disaster risks remarkably. “Today, Bangladesh is appreciated for effective disaster management for the initiatives we’ve taken following the footsteps of the Father of Nation,” she said while addressing a virtual…
In January-June 2021, the gross value added (GVA) in industry in Tashkent region made up 16.64 trillion soums and, compared to the same period of last year, increased by 9.6%. In the period under review, the share of this sector in GRP amounted to 48.6% and, compared to January-June 2020, increased by 0.8 percentage points,…
On 8 October, Minister of Energy of the Republic of Uzbekistan Alisher Sultanov held a meeting with the British Ambassador to Uzbekistan Timothy Torlot and the Ambassador of the Region for Climate Change David Moran. During the negotiations, information was provided that Uzbekistan has set itself the task of bringing the volume of generation based…
Today, on 9 October, an opening ceremony of the Tajikistan and Uzbekistan Trade House was held in Dushanbe. The purpose of the creation of the Trading House is to create a number of facilities for entrepreneurs on the territory of the Republic of Uzbekistan. That is, entrepreneurs provide practical assistance in finding new buyers by…
Fitch Ratings has affirmed Uzbekistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB-’ with a Stable Outlook. Uzbekistan’s ratings balance robust external and fiscal buffers, low government debt and a record of high growth relative to ‘BB’ rated peers against high commodity dependence, high inflation and structural weaknesses in terms of low GDP per capita…
President Shavkat Mirziyoyev arrived in the Syrdarya region on 7 October, where he got acquainted with the activities of the joint venture “Sirdaryo Mega Lux”. Last year, the production of large-capacity polypropylene bags was launched here. These bags, also known as flexible containers, can carry loads between 500 and 5,000 kilograms. They are widely used…
For two and a half years since the establishment of the Ministry of Energy of the Republic of Uzbekistan, 18 investment agreements in the electric power industry have been signed for the construction and commissioning of power plants with a total capacity of 7,331 MW by 2025 (this is 50% of the current power generation…
The President of Siemens in Russia and Central Asia Alexander Liberov visited Uzbekistan. During the visit, he held a number of meetings with the company’s partners in the field of industrial production, transport and electrical engineering. One of the key goals of the visit is to discuss the implementation of the strategic agreements signed earlier…
On 30 September, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov held negotiations with Vice-President of the World Bank for Europe and Central Asia Anna Bjerde to discuss the current state and prospects for deepening further cooperation. The results of the implementation of the World Bank’s…
Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov met with Director of Global Relations of the Organization for Economic Cooperation and Development (OECD) Andreas Schaal on the sidelines of the meeting of the Country Platform on Uzbekistan. During the meeting the parties discussed current issues of…
Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov held negotiations with Vice President of the Asian Development Bank (ADB) Shixin Chen. The status of projects under implementation and development, as well as issues related to the deepening of bilateral cooperation were discussed. An agreement was reached…
In August 2021, the Business Activity Index (IDA), calculated by the Center for Economic Research and Reforms (CERR), amounted to 1059 points, and, compared to the previous month, increased by 5.9%. There is also a 30% increase in IDA compared to the same period of last year. The following changes were observed in the components…
Prime Minister Sheikh Hasina has received the ‘SDG Progress Award’ in recognition of Bangladesh’s achievements in sustainable development from 2015 to 2020. The award was given to the prime minister as part of the 9th Annual International Conference on Sustainable Development in New York on Monday. The virtual event was jointly organised by the UN…
In the crowded corridors of the Hilton Tashkent City, ACWA Power Chairman Mohammad Abunayyan talks quietly with key delegates of the Islamic Development Bank’s annual meeting in Uzbekistan, who approach him one after another. Abunayyan, a lean, middle-aged, intelligent-looking man is with IDB officials celebrating the launch of the $100 million Economic Empowerment Fund for…
The analysis of CERR showed that sales in the domestic car market in August of this year. showed a significant increase compared to July. The Center for Economic Research and Reforms (CERR) regularly analyzes changes in sales in the car market. In August 2021, the number of car purchase and sale transactions in the republic…
The declaration of State Independence of the Republic of Uzbekistan on 31 August 1991 opened a new chapter in modern history of the country. This year the Uzbek people celebrate 30th anniversary of this significant date. During this historically short period, Uzbekistan had a great achievement in all spheres, including his internal and foreign policy.…
On 14 September, President of the Republic of Uzbekistan Shavkat Mirziyoyev received a delegation from the International Finance Corporation headed by Managing Director Makhtar Diop. At the beginning of the meeting, the head of our state highlighted the dynamically developing fruitful cooperation and strengthening strategic partnership with the World Bank Group, which also includes the…
“Uzbekistan is a country with rich history and dynamically developing present, with its priority to move towards an open democratic society. Human and civil rights and freedoms where the voice of every citizen is heard are the priorities for a democratic society. A democratic society exists when power is formed legitimately through universal suffrage and…
At the International Congress Center in Tashkent, as part of the program of the 46th Annual Meeting of the Board of Governors of the Islamic Development Bank, a panel discussion was held on the topic: “Changing the paradigm of economic transformation and expanding opportunities for the socially vulnerable population of Uzbekistan in post-COVID era”. The…
Bangladesh is a good place to invest in. Some Indian companies have already expressed their desire to invest here, said Indian High Commissioner (HC) to Bangladesh, Vikram Doraiswami. He said India currently has investments of $3.5 billion in Bangladesh. The establishment of the government’s Special Economic Zones (SEZ) will create opportunities for more investment. He…
His Excellency Mr. Shavkat Mirziyoyev, President of the Republic of Uzbekistan Dear Mr. President, let me, on behalf of the European Union, congratulate you on the thirtieth anniversary of your country’s independence. Uzbekistan may be a young country, but it is based on a proud and ancient heritage. During the years of independence, your country…
On the eve of the 30th anniversary of Uzbekistan’s independence, the country’s first solar photovoltaic plant has been commissioned in Karmana district of Navoi region. President of the Republic of Uzbekistan Shavkat Mirziyoyev attended the ceremony of launching the plant. Hydrocarbons, mainly coal, oil and gas, are widely used as sources of electricity generation. However,…
On 25 August, a solemn ceremony of presenting credentials by newly appointed ambassadors of foreign states to our country was held. The President of the Republic of Uzbekistan Shavkat Mirziyoyev received credentials from the Ambassadors of Romania Daniel Christian Ciobanu, the Republic of Poland Radoslav Gruk, the Republic of Tajikistan Abdujabbor Rahmonzoda, the Swiss Confederation…
To support a green and inclusive recovery from COVID-19 in Europe and Central Asia, IFC invested over $4.9 billion in the region in fiscal year 2021, which ended on June 30. Up from $3.1 billion last year this year’s commitment mobilized over $2 billion from other investors and focused on driving the region’s transition to…
According to preliminary data, in January-July 2021, enterprises of Uzbekistan produced industrial products worth 233.8 trillion soums, the index of physical volume of industrial production by the same period in 2020 amounted to 108.9%., the State Statistics Committee of Uzbekistan said. In the structure of production, the largest share falls on manufacturing enterprises (82.5%), the…
Prime Minister Abdulla Aripov signed a resolution of the Cabinet of Ministers “On additional measures to ensure the stability of the epidemiological situation in the Republic of Uzbekistan associated with coronavirus infection” on 20 August. The document notes that the Jurabek Laboratories joint venture has agreed with Anhui Zhifei Longcom Biopharmaceutical to manufacture the ZF-UZ-VAC…
As a country located at the heart of the Great Silk Road, Uzbekistan is currently in the process of transitioning from old paradigms to the ‘New Uzbekistan’. In 2020, Uzbekistan’s leadership announced a new five-year national strategy and roadmap to enhance its commodity and financial markets to address structural problems inhibiting economic development. As part…
There’s an old Chinese proverb that goes like this: “The best time to plant a tree was 20 years ago. The second best time is now.” This should be on a plaque hanging above every long-term investor’s desk. For sure, it is how famed investor Jim Rogers thinks. His claim to fame is calling the…
The Bangladesh Embassy in Tashkent, the capital of Uzbekistan, observed the 46th Martyrdom Anniversary and National Mourning Day of Father of the Nation Bangabandhu Sheikh Mujibur Rahman on 15 August with due solemnity and dignity. The embassy said in a statement on Sunday, Bangladesh’s ambassador to Uzbekistan. Jahangir Alam started the day by hoisting the…
The volume of Uzbekistan’s gross gold and forex reserves as of August 1 topped US$ 35.11 billion, recording a US$ 965 million increased over the month, follows from the data of the Central Bank. Over the past month, the gold reserves increased by 0.3 million troy ounces (9.3 tons), and its value increased by US$…
Bangladeshi fashion designer and former international model Bibi Russell’s social enterprise runs on the motto ‘Fashion for Development’. She is a beacon to budding social entrepreneurs, leading by example as she empowers weavers, artisans and craftsperson. In this year’s Cannes Film Festival, we saw the handloom heritage of Bangladesh, Dhakai Jamdani make a red-carpet entry.…
On 11 August, President Shavkat Mirziyoyev became familiar with the presentation of projects on improving the drinking water supply in Surkhandarya region and creating new jobs in the service sector in the city of Tashkent. 46 percent of the population of Surkhandarya region does not have access to the centralized drinking water supply. 216 hydraulic…
President of Uzbekistan Shavkat Mirziyoyev held a meeting on the development of industry in Tashkent region on 10 August. At a video conference on the analysis of economic results for the first half of the year, held on 3 August, the President noted the presence in Tashkent region of favorable conditions for the development of…
The American business and employment-oriented online service LinkedIn was registered by the Uzbek tax authorities, the Tax Committee said. The registeraion means that in-site fees will now include the 15% value added tax (VAT). VAT payment procedure has been introduced as of 2020 for foreign-based companies that provide online services. 27 foreign suppliers of online services in…
The pharmaceutical industry of the country is going to make a giant stride as local companies are setting up factories in a dedicated park near Dhaka to produce active pharmaceutical ingredients (APIs) to reduce dependence on import for key raw materials for drugs. At least five companies including Acme, Healthcare, UniHealth and Ibn Sina have…
Gender equality is more than just a human right – it is the best chance societies have in overcoming some of the most pressing challenges of our time—from economic crises and global pandemics, to climate change and spiraling poverty. Women are not only dispoportionaly affected by these problems – they possess ideas and leadership to…
Uzbek President Shavkat Mirziyoyev on July 29 laid the first stone in the foundation of a $2bn worth copper processing plant. The new factory is to be erected within the country’s only copper producer, Almalyk mining and metallurgical complex (AMMC). It will process 60mn tonnes of ore annually. At the second stage, according to plans,…
Bangladesh, the country whose infrastructure was ravaged by the Pakistani occupation force in 1971, has stridden far ahead of Pakistan, the country it obtained independence from, in the last 50 years, observed IFFRAS, an international think tank headquartered in Toronto, Canada. Praising Bangladesh for its resilience in dealing with the economic challenges during the pandemic,…
The International Monetary Fund (IMF) has approved the allocation of a record US$ 650 billion to restore the world economy, Dunyo news agency reported. “The International Monetary Fund will allocate a record SDR 456 billion from reserve assets (the IMF’s unit of account, US$ 650 billion). US$ 275 billion will go to emerging market and…
On 3 August 2021, the Uzcharmsanoat Association organized a press conference on the theme “Development of the leather, footwear and fur and fur industry in 2016-2020.” The event was attended by the leadership of the Association, representatives of state and non-state media, bloggers. First of all, the speakers focused on the main goal set by…
On 2 August, President of Uzbekistan Shavkat Mirziyoyev got acquainted with the presentation of a project to modernize the heat supply system in Tashkent. Heat supply ensures comfortable living of the population and productive work of enterprises and organizations. In our country, consistent work is underway to improve this system. In particular, in cooperation with…
SAMARKAND – In H1 2022, Silk Road Samarkand, a multifunctional tourist complex designed to become a modern attraction not only of the city of Samarkand, but also of the entire Central Asia, will be opened for visitors. The complex will combine cultural, gastro, medical and business tourism facilities. The new complex will house world-class hotels, specialized…
The first batch of the Russian Sputnik V coronavirus vaccine was produced in Uzbekistan. This was reported by the Russian Direct Investment Fund (RDIF). The vaccine is produced at the facilities of the pharmaceutical company Jurabek Laboratories. Earlier it was reported that the enterprise will produce up to 2 million doses of the Sputnik V…
A solemn ceremony to mark the start of the construction of the third copper processing plant was held at Almalyk Mining and Metallurgical Complex. “I cordially congratulate all of you on today’s joyful event – the start of the construction of a new copper processing plant at Almalyk Mining and Metallurgical Complex”, President Shavkat Mirziyoyev…
Recovering prices, strong demand from the transportation industry and modern developments of oil and gas exploration and production activities are some of the factors driving Uzbekistan oil and gas market growth. Increasing exports and imports of oil and gas on the account of surged demand across the world are fuelling the market growth. Global oil…
Uzbekistan has sent the first batch of saffron to Europe under brand BMB Za’faron on July 29, Dunyo news agency reported. The product was sent under the 15 million Euros export contract signed with Italian partners by BMB Trade Group ni June. Uzbekistan plans to export its saffron to Americas and Asian countries in future.
Micro, small and medium enterprises (MSMEs) across Uzbekistan’s Ferghana Valley will benefit from a new rural enterprise development project approved today by the World Bank’s Executive Directors. The project will be supported by a US$ 200 million loan from the International Bank for Reconstruction and Development. The Government of Uzbekistan has recognized the need to reform its…
Uzbekistan plans to start producing the Russian Sputnik V vaccine from next week. The vaccine production will be established at the production facilities of Jurabek Laboratories in Almalyk. The head of Uzbekistan Shavkat Mirziyoyev noted that initially the enterprise will produce up to 2 million doses of vaccine per month.
Decrees and resolutions have been signed, the Powerpoint presentations have been prepared and some of the biggest state companies have either secured or are in the process of seeking international credit ratings. Uzbekistan is poised to begin Stage Two of its historic national reforms agenda. Within months of his election five years ago, ending 25…
The newest history of Uzbekistan and the tremendous successes we have achieved give every reason to say with confidence that our people, possessing courage and strength, unbending will and determination, are able to overcome any difficulties and trials on their way. Our country has one goal – to build a developing, free and prosperous democratic…
Throughout the pandemic – and even before – WHO has provided a range of support to Uzbekistan to strengthen the country’s pandemic preparedness, to develop communication materials to inform, educate and engage the population, to boost laboratory testing capacity, and to help the health system effectively treat patients with COVID-19. Risk communication and community engagement…
Bangladesh Economic Zones Authority (BEZA) Executive Chairman Shaikh Yusuf Harun has said the Bangladesh government continues investment services despite pandemic to allure investors to come with their new ventures here. “Investors from home and abroad are being able to invest easily in Bangladesh despite pandemic. Bangladesh is keeping open all sorts of services through ports,…
The Asian Development Bank (ADB) in its Asian Development Outlook Supplement of July said Bangladesh’s economic recovery will continue amid the second wave of Covid-19 much like the previous fiscal year, depending on exports and remittances. ADB today released the supplement on the Asian economy from Manila. It said the impact of the second wave…
A presidential resolution “On the introduction of a system for assessing the effectiveness of the activities of deputy heads of ministries, state committees, other government bodies and business associations” was adopted. According to the resolution, the deputy heads of government bodies and business associations are personally accountable to the President for the efficiency and effectiveness…
A panel session on “Trade and transport connectivity for sustainable growth in Central and South Asia” was held within the framework of the High-Level International Conference “Central and South Asia: Regional Connectivity. Challenges and Opportunities”. According to Uzbekistan MIFT, the event was moderated by the Advisor to the President of the Republic of Uzbekistan on…
The Uzbekistan government is set to take steps to open its embassy in Dhaka, according to a foreign ministry press release. Uzbek foreign minister Abdulaziz Kamilov asked officials of his ministry to start necessary steps for opening the embassy in Dhaka when foreign minister AK Abdul Momen met Uzbek president Shavkat Mirziyoyev in Tashkent on…
UN Secretary-General Antonio Guterres’ comments came as clashes between the Afghan government forces and the Taliban intensified since U.S. troops began to withdraw from the country. The countries of Central and South Asia can only fully benefit from potential opportunities if the region at large is at peace, UN Secretary-General Antonio Guterres has said, underlining…
Bangladesh and Uzbekistan have discussed the prospects for expansion of multifaceted cooperation between the two countries. Foreign Minister Dr AK Abdul Momen had a meeting with Uzbekistan President Shavkat Mirziyoyev at the International Conference on ‘Central and South Asia: Regional Connectivity, Challenges and Opportunities’ in capital Tashkent on Friday. At the meeting, the two sides…
Foreign Minister Dr AK Abdul Momen on Thursday held a meeting with his Indian counterpart Dr S Jaishankar at Tashkent, Uzbekistan and discussed issues of mutual interest. “Happy to meet Bangladesh Foreign Minister Dr AK Abdul Momen on the sidelines of the Tashkent Connectivity Conference. A good opportunity to review the progress in our ties,…
Uzbekistan has a great historical, cultural and architectural heritage. Samarkand, Bukhara, Khiva are the brands of the ancient culture of the East. The landscapes of mountains and deserts of Uzbekistan attract attention and admiration of the Internet community. Therefore, the tourism potential of this country can hardly be overestimated and the government is making significant efforts…
An Uzbek delegation led by Kitab district vice governor Bahtiyor Karimov recently visited Iran and met representatives of North Industrial Marine Coating Co. in the Mozandaran province to discuss production of paints and varnishes in the district. The Kitab administration and Iranian firm Payam Gostar Tejarat Farda signed an agreement on export of textile from…
The government has adopted a resolution “On additional measures to further simplify customs administration and procedures”, KunUz reported with the reference to the Ministry of Justice. According to the decree, from August 1, 2021, processing operations are allowed even in the absence of a foreign customer at the request of the customs regime. Also, new types of…
High Level Political Forum | 12 July 2021 | 13:30-15:00 CEST (7:30-9:00 NY times) | VIRTUAL EVENT Organizers: United Nations Economic Commission for Europe (UNECE), United Nations Environment Programme (UNEP) and the Ellen MacArthur Foundation. The post-COVID recovery offers an opportunity to reverse unsustainable economic trends and build back better, to promote sustainable consumption and…
With COVID-19 causing the biggest paradigm shift in the world order, more and more people are beginning to realize how we, humans, had taken the Earth and all its blessings for granted. Even before this pandemic had begun, environmental activists like 15-year-old Greta Thunberg constantly made noise about the importance of adapting a circular economic…
Uzbekistan has climbed up to the 29th place in the World Giving Index this year. Last year, the country was ranked 18th (46%) in donations to charities, 58th in helping others (57% of people), and 62nd in terms of volunteering (16%). Indonesia was ranked first with a score of 69, up from 59 the last…
Uzbekistan carried out construction works totaling $ 3.5bn over the past five months of 2021. This is up almost 100.9% than in the corresponding period of 2020. State-owned organizations have carried out construction works for a total amount of $ 141mn. Their share in the republic was 4.0%. The share of non-state organizations comprised 96.0%. The…
Uzbekistan‘s Finance Ministry is set to issue $870 million worth of eurobonds in two tranches, in US Dollars and Uzbek soms, a representative of the ministry told Sputnik on Friday. On Thursday, a source from the country’s banking sector also told Sputnik that Uzbekistan was planning to sell eurobonds denominated in dollars and soms. The authorities were expected to place a series of…
Central and South Asian countries are not linked by reliable transport routes, which hinders the realisation of their potential for economic cooperation. The international conference “Central and South Asia: Regional Connectivity. Challenges and Opportunities”, which is scheduled to be held on July 15-16 in Tashkent will help to develop vision and directions of the regions,…
Under the chairmanship of President Shavkat Mirziyoyev, on 7 July, a video conference was held on the development of viticulture and industrial processing of grapes, as well as measures to organize wine tourism in the regions. The head of state noted that in our country the traditions of viticulture have a long history and today…
H.E. Mr. Md Zahangir Alam, Bangladesh Ambassador had a meeting with Dr. Adkham Bekmurodov Sharipovich, Rector of the Academy of Public Administration under the President of Uzbekistan (former Deputy Foreign Minister) on 7 July 2021 at the Academy of Public Administration in Tashkent. Rector informed that Academy has 3 directions: Masters, PhD and training &…
The report of the US National Intelligence Council, Global Trends 2040, contrasts most strongly with the consolidated diverse peacekeeping initiatives in Afghanistan, broad efforts in this field by regional players (for example, Uzbekistan), and signs of a certain détente in Kashmir along the disputed India-Pakistan border. Both Afghanistan and Kashmir have long been a seething cauldron of…
Over the years Bangladesh has emerged as one of the preferred places for studying medicine owing to the quality education it provides at an affordable price. This aspect draws thousands of international students, including many from neighbouring India, to Bangladesh every year when studying medicine is getting increasingly expensive in Europe, North America and other…
Despite the lengthy coronavirus pandemic, 13,613 new companies were registered in Bangladesh in the just-included fiscal year, highlighting the confidence of businesses in the economy. This is the highest firm registration in a single year, according to data from the Office of the Registrar of Joint Stock Companies and Firms (RJSC). The new company registration…
Prime Minister Sheikh Hasina’s two bold decisions have saved the export-oriented industries and the economy from a collapse, exporters said. The first one was announced on March 25, 2020 when the Prime Minister announced a Tk 5,000-crore stimulus package, solely for the garment exporters. She offered the support before the exporters’ demand. Keeping the factories…
The Uzbek economy has three key things going for it: it has growth; it has a young and growing population, and it has money. Over the last four years Uzbekistan has been a frenzy of reform activity after Uzbek President Shavkat Mirziyoyev opened up the country and began the long overdue process of modernising the economy. And…
On 2 July, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov received Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus Leonid Marinich. The parties exchanged views on the current state of economic partnership between the two countries and the prospects for further cooperation in investment,…
Experts from WHO are providing training for Uzbekistan’s national and regional laboratories to improve their capacity and preparedness to detect COVID-19. From 5–9 July, national public health laboratories involved in SARS-CoV2 testing will be trained by international experts on laboratory sample management, biosafety and biosecurity. Well-functioning, sustainable laboratory services, operating according to international quality and…
The Senate of the Oliy Majlis on the sixteenth plenary session on 26 June amended the Law of the Republic of Uzbekistan “On the state budget for 2021”. It was famous on the assembly that the implementation of selections taken over the previous interval of the present 12 months, the implementation of precedence duties and…
Uzbekistan’s Energy Ministry said on June 30 a new $380 million project to enhance the performance of the National Electric Grids of Uzbekistan (NEGU) has been approved by the World Bank’s Board of Executive Directors. “Uzbekistan has been working closely with the World Bank and other international institutions to open up the country’s power sector…
The European Bank for Reconstruction and Development published its latest Regional Economic Prospects (REP) report, according to which the economy of Uzbekistan is set to grow by 5.6 per cent in 2021 and 6 per cent in 2022. The REP is expecting private consumption and investment to rebound as well. According to the report key…
A year after shutting down all its state-owned jute mills, Bangladesh is now in the final stage of shortlisting bidders who sought to operate these once-vibrant factories under lease arrangements. Bangladesh Jute Mills Corporation (BJMC) that used to operate the mills, now sifting through the lease proposals it received against an ‘expression of interest’ (EOI)…
Kyrgyzstan’s President Sadyr Japarov has lauded the success Bangladesh has achieved in garments and medicine sectors and urged the entrepreneurs of the south Asian country to invest in the landlocked nation. The government of Kyrgyzstan will extend all-out support, including allotment of land, to the interested Bangladeshi businesses, he said. He made the comments at…
President of Uzbekistan Shavkat Mirziyoyev got acquainted with the activities of the limited liability company “Dentafill Plyus” in Yangikhayot district of the capital. The enterprise was commissioned in 2019. Modern equipment from Switzerland, Germany, Turkey, China, Japan, Malaysia and South Korea were installed at the plant. Today, more than 172 types of drugs belonging to…
On 23 June, President Shavkat Mirziyoyev got acquainted with a presentation on measures to organize the educational process at the New Uzbekistan University. The availability of highly qualified specialists is of decisive importance for the development and future of any country. In Uzbekistan, which has set itself ambitious tasks in all spheres, attention is paid…
Uzbekistan produced more than 85,790 passenger cars in January-May 2021, which is 27.25% less compared to the same period in 2020. In the automotive industry in January-May 2021, 25,059 cars of the Cobalt brand were produced (-16.8%), 11130 – Nexia (-62.2%), 16848 – Gentra (-22.9%) , 22799 – Damas (+ 2.9%), 4942 – Spark (-59.4%)…
The founder of Nas Daily, a star of social networks and video blogger with millions of subscribers around the world, Nuseir Yassin paid a visit to the UzAuto Motors Powertrain. This was reported by the press service of UzAuto Motors. Yasin is a Galilee-born Harvard graduate who worked as an engineer in New York, but…
In January-May 2021, Uzbekistan’s foreign trade turnover (FTT) reached US$14.57 billion, which, compared to the same period of 2020, decreased by US$1.7 billion (a decrease of 13.2%). Of the total volume of the FTT, exports made up US$5.73 billion (a 14.0% decrease was noted against January-May 2020), and imports – US$8.83 billion (an increase of…
Uzbekistan exported textile products worth $637.7 million to 54 countries in the first quarter (Q1) of this year, which is $174.9 million more than the country’s exports in the same period in 2020, as per a recent report by the Statistics Committee. The country had exported textile goods worth $1.9 billion to 70 foreign countries…
Bangladesh has sent 207,885 workers to different countries in last five and a half months amid the Covid-19 pandemic, according to official statistics. As per the data of the expatriates’ welfare desk at Hazrat Shahjalal International Airport, a total of 168,178 male and 39,707 female workers went abroad with jobs during the period between January…
At a business forum held as part of the visit of the President of the Republic of Tatarstan and his delegation to Uzbekistan, the agenda also included the development of cooperation between Uzbekistan and Russia in the leather, footwear and fur and fur industries. In particular, a number of meetings were held to establish partnership…
Residents of cities located in two southern regions of Uzbekistan will benefit from improved urban infrastructure and municipal services, thanks to Additional Financing for the Medium-Size Cities Integrated Urban Development Project, approved today by the World Bank’s Board of Executive Directors. The project will be supported by a US$100 million concessional credit. The International Development…
In the context of globalization, interstate interaction of economic entities of the national economies of Central Asian countries go beyond the framework of foreign trade transactions, developing into new forms of economic cooperation. One of such forms is industrial cooperation, which over the past 20 years has become one of the essential factors in achieving…
Today, the Government of Uzbekistan officially launched a new unit within the Ministry of Health (MOH), the Public Health Emergency Operations Center (PHEOC). The establishment of the PHEOC was supported by the U.S. Centers for Disease Control and Prevention (CDC), working through two international partners, Integral Global Health (IGH), and the Civilian Research and Development…
From 24 to 26 May 2021, in the city of Termez, Surkhandarya region, with the participation of Uzbek and Afghan businessmen, an exhibition of national products “Made in Uzbekistan”, a Business Forum, as well as an Interregional and Intersectoral Industrial Fair are being held, and cooperative exchange. The stand presents more than 50 samples of…
The Ministry of Agriculture of the Republic of Uzbekistan, the UN Development Program, and the Food and Agriculture Organization of the United Nations (FAO) organized the first National Dialogue in preparation for the UN Summit on Food Systems, which will be held in September 2021 in parallel with the UN General Assembly in New York.…
President of Uzbekistan Shavkat Mirziyoyev held a meeting on 25 May on measures to improve the plant protection system. Plant protection is a set of measures that are important for ensuring the quality and safety of food products and increasing their exports. The implementation of these measures is currently carried out by the joint-stock company…
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President of Uzbekistan Shavkat Mirziyoyev held a meeting on 27 April to discuss investment projects being implemented in free economic and small industrial zones. Today in our country there are 23 free economic and 348 small industrial zones. The FEZ has implemented 453 projects totaling US$2.6 billion and created about 36 thousand jobs. The SEZ…
The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Uzbekistan and considered and endorsed the staff appraisal without a meeting on a lapse-of-time basis. While the pandemic hit Uzbekistan’s economy especially hard in the first half of 2020 and inflicted considerable hardship, the recession was moderated…
Uzbekistan is investing $ 2 million in the creation of a garment factory in the free economic zone (FEZ) Bishkek, Uztekstilprom reports. General Director of the FEZ “Bishkek” Kudret Taichabarov, the head of the Uzbek company Nil-Granit (SAMO brand) Akrom Ganiev and the deputy head of the Uztekstilprom Association Daniyar Khabibullaev signed a roadmap. According…
On 12 April, President of Uzbekistan Shavkat Mirziyoyev got acquainted with the presentation of investment projects that will be implemented in the city of Tashkent. In 2021-2023, it is planned to implement 1,390 investment projects in Tashkent for US$10.7 billion and create about 98 thousand jobs. In particular, this year it is planned to master…
On 8 April 2021, the Ministry of Finance of the Republic of Uzbekistan, in cooperation with the World Bank, organized a “virtual” round table on the topic “The importance of knowing land use regimes. Prospects for the application of international experience”. The round table was attended by the Senior Technical Advisor and Global Lead for…
Uzbekistan will start the first stage of mass vaccination against coronavirus with the AstraZeneca vaccine from April 1, an Uzbek Health official said on Wednesday. Elderly and disabled people, employees of the healthcare and education systems, as well as members of law enforcement bodies will be vaccinated in the first place, the deputy head of…
Businesses are now deeply worried that resurgence of the Covid-19 might unsettle the recovery they have been making in recent months following a notable improvement in both infection and fatality rates. A number of businessmen while talking to the FE have expressed their deep frustration over such a possibility. The year-long crisis had badly affected…
Taking into account the personnel issue of organizing the work of an information and computing center with high indicators and results to ensure the high-quality implementation of the relevant decree and Decree of the President of the Republic of Uzbekistan and the instructions of the Ministry of Finance of the Republic of Uzbekistan from 14…
Uzbekistan, one of the world’s leading cotton exporters, sent a high-level delegation earlier this week to the Chinese-invested Gwadar Port in Pakistan to look for logistics opportunities that might help it export its cotton, the Global Times has learned. Analysts said the move highlighted the big potential demand countries have for an international public facility…
Muzahid Khan, Managing Director of Janala Venture, describes his company’s assessment of the current business opportunities in Bangladesh. FOR MANY, Bangladesh is known for its garment trade, an industry that now accounts for nearly 78% of the country’s exports. It is second only to China in terms of the volume of its exports of clothing.…
Today, on 6 February, a specialized school with in-depth study of informatics and information technologies was opened on the basis of school No. 8 in the city of Jizzakh. The school has modern computer science and robotics classrooms, e-sports, mathematics, English rooms, as well as a digital library and a conference room. The classrooms are…
In order to ensure the smooth operation of existing industrial facilities in departments and factories in connection with the impact of the coronavirus pandemic, significant work is being done to expand the participation of domestic manufacturers in the procurement system and gradually reduce the need for imports. Today, a new way of cooperation with local…
A resolution of the President “On additional measures to create a healthy competitive environment in the agricultural engineering industry” was adopted. According to the resolution, domestic manufacturers of agricultural machinery operating in the agricultural machinery industry: – for a period until 1 January 2022, they are exempt from customs payments (except for VAT and customs…
In 2020, Uzbekistan imported 131 electric vehicles from abroad. The State Statistics Committee of Uzbekistan reports. It should be noted that this figure is 92 units more compared to the same period of last year. According to the State Statistics Committee, this year 92 electric vehicles were imported from China, 13 from the Republic of…
A positive trend in economic development will continue for the next 3 months, the authors of the study believe. The easing of quarantine restrictions and the large-scale measures taken by the government to support the economy made it possible to maintain positive rates of economic growth. The economic situation in Uzbekistan continues to improve, which…
A United Nations report on Tuesday said that Bangladesh’s gross domestic product growth fell to 0.5 per cent in the calendar year 2020 due to the COVID-19 pandemic. Bangladesh saw its economic growth down to 0.5 per cent in 2020 from 8.4 per cent in 2019, said the report titled the World Economic Situation and…
According to preliminary estimates, in 2020, the gross domestic product of Uzbekistan at current prices made up 580.2 trillion soums and, compared to 2019, increased in real terms by 1.6%. The GDP deflator index, in relation to the prices of 2019, was 111.9%. This was reported by the press service of the State Statistics Committee.…
“Showcase Bangladesh 2021: China-Bangladesh Investment Summit, a virtual platform jointly organized by Standard Chartered and Bangladesh Investment Development Authority (BIDA), was held recently. The virtual event showcased the partnership potential between Bangladesh and China and highlight the emerging strategic opportunities in a shifting global landscape. Over 400 delegates representing Chinese public and private sectors, policymakers,…
On 19 January 2020, a video conference was held on the cardinal improvement of the system of spiritual and educational work, strengthening the interaction of state and public organizations in this process. The meeting was chaired by the President of the Republic of Uzbekistan Shavkat Mirziyoyev. World historical experience shows that nations make progress thanks…
An expanded meeting with the heads of diplomatic missions of the Republic of Uzbekistan abroad was held at the Ministry of Investment and Foreign Trade, during which an analysis of their activities at the end of 2020 was carried out, as well as key priorities in work for 2021 were considered. The event was attended…
Uzbekistan MFA hosted a meeting of the Minister of Energy of Uzbekistan Alisher Sultanov with heads of diplomatic missions of Uzbekistan abroad. Participants were informed about the current priorities and plans for the development of Uzbekistan’s fuel-energy industry, including the participation of foreign investments and the creation of new opportunities, renewable energy sources. Detailed explanations were…
The pandemic has had a significant impact on the world real estate and car markets, all countries of the world have felt its consequences, and Uzbekistan is no exception. Economists are confident that changes in demand in the real estate and auto markets are one of the main indicators of economic recovery, since the demand…
Negotiations on the implementation of new investment projects based on the localization program were held between the Uzcharmsanoat Association and the German company PeconTrade. It should be noted that Pecon Trade is considered the largest German company for the production of import substitution products. It has already successfully launched a large enterprise for the production…
Governments and religious leaders in Muslim-majority nations are talking to vaccine makers, investigating production processes and issuing guidance in an effort to make sure concerns about products prohibited by Islam don’t interfere with Covid-19 inoculations, foreign media reported. On Friday, the high clerical council in Indonesia, with the world’s largest Muslim population, said that China’s…
Today the Governments of the United States of America, the Republic of Kazakhstan, and the Republic of Uzbekistan are announcing the launch of the Central Asia Investment Partnership. The participants welcome other countries to join this initiative to promote regional economic partnership and prosperity. Through this initiative, the U.S. International Development Finance Corporation (DFC), Astana…
Uzbekistan plans to master investments in fixed assets in the amount of more than 251.08 trillion soums in 2021. On 31 December 2020, the Government of Uzbekistan approved an investment program for 2021-2023. According to the document, in 2021-2023 Uzbekistan intends to master investments in fixed assets in the amount of more than 928.7 trillion…
A government resolution “On measures to improve the system of organizing the educational process in higher educational institutions” was adopted. According to the resolutin, starting from the 2020/2021 academic year, the educational process in higher educational institutions is gradually transferred to a credit-modular system. According to the decision of the Council of a higher educational…
he airline ticket search service Aviasales.uz conducted a study on what has changed in the travel industry of Uzbekistanis in 2020 – there is a demand for travel, there are few opportunities. With countries’ borders closed for most of the year, demand for air travel fell by only 20%, while ticket sales fell 73% year-over-year.…
In order to activate “points of growth” in the regions, create favorable conditions for entrepreneurs in all cities and regions, small industrial zones and technoparks are being created. Technopark “Urgench” was commissioned in May 2020. Soon two enterprises started working here – “Oq oltin mega tekstil” for the manufacture of clothes and “Great Khorezm” for…
President of Uzbekistan Shavkat Mirziyoyev arrived in Khorezm region on 12 December and visited an innovative greenhouse complex in Khanka district. The facility of the limited liability company “Red Star Oxus” and worth more than 205 billion soums was put into operation in February this year. At the first stage of the project, hydroponic cultivation…
The President of Uzbekistan adopted a resolution “On measures to further accelerate the organization of the introduction of water-saving technologies in agriculture”. According to the resolution, the rate of implementation of drip and sprinkler irrigation systems, as well as a discrete method of irrigation with leveling the ground using laser equipment will be increased five…
The Ministry of Employment and Labor Relations of Uzbekistan hosted a meeting with the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of Bangladesh to the Republic of Uzbekistan Jahangir Alam. During the talks, the Minister of Employment and Labor Relations, Nozim Khusanov, provided the guest with detailed information about the reforms aimed at ensuring…
In January-October 2020, Uzbekistan produced 8.8 million tonnes of cement. This indicator increased by 2.6% compared to the corresponding period of last year. This was reported by the press service of the State Statistics Committee. The largest share in the total volume of products produced by enterprises for the production of cement at the republican…
To improve the taxation of property and land plots, the Decree of the President of the Republic of Uzbekistan “On further improvement of resource taxes and property tax” was adopted. The document provides for a number of innovations. The right to set land tax rates (with the exception of agricultural land) has been granted to…
On November 30, the European Commission decided to grant Uzbekistan the status of the beneficiary country to the EU’s GSP+ ahead of schedule, the Ministry of Investments and Foreign Trade said. The document was signed by the Chairman of the EU Commission, Ursula von der Leyen. “The decision was based on the reports of the…
Central Asian emerging economic power Uzbekistan is becoming a new favourable spot for exporting Bangladeshi manpower as a batch of 239 Bangladeshi workers flew to the country for the first time on Saturday. The workers reached the country by a special aircraft of Uzbekistan Airways at 10:30am from Hazrat Shahjalal International Airport (HSIA). Group Captain…
President Shavkat Mirziyoyev has got acquainted with the working process at Tashkent Metallurgical Plant. In terms of technical and technological capacities, the enterprise is one of the major industrial complexes in the world. Equipment manufactured in 27 countries, including Italy, Germany, Russia, Austria, Switzerland, South Korea, is installed here. Systems of automation and control of…
Commerce Minister Tipu Munshi has presented a five-point proposal for a digital, green and resilient post-pandemic business recovery at a Commonwealth dialogue. The Bangladesh High Commission in London and the Commonwealth Secretariat organised the virtual high-level Commonwealth B2B Connectivity dialogue on Monday. Bangladesh also paid tribute to Bangabandhu Sheikh Mujibur Rahman to mark his birth…
Foreign direct investment (FDI) inflow, a major component of spurring growth in a developing economy like Bangladesh along with other development tools, usually plays a big role in transferring technology, creating employment opportunities, and transforming traditional skills into high-end technology. Over the decades, with providing the world’s competitive facilities, namely lands, port infrastructures, cheaper labour,…
Uzbekistan harvests about 3.82 million tons of raw cotton in 2020, the press service of the Ministry of Agriculture reported. The Ministry notes that the growth compared to 2019 was 9%. At the same time, the forecast indicator for the cotton harvest was fulfilled by 99.4%. Kashkadarya region (95.8%), Syrdarya region (93.5%), Bukhara region (89.1%)…
President Shavkat Mirziyoyev has chaired a meeting on improving the activities of the national hydrometeorological service. On November 3, President Shavkat Mirziyoyev held a meeting on priority tasks of improving the activities of the national hydrometeorological service. The hydrometeorological service is important for many sectors, such as agriculture, energy, transport and ecology. But due to…
Industrial cooperation is considered by many countries as a tool to achieve high production efficiency through division of labor, specialization, rational use of available production and technological capacities and optimization of the use of all types of resources. I. The specified model of the organization of production has spread rapidly, especially over the past 20…
According to the resolution of the Cabinet of Ministers from 17 September 2020, in the city of Namangan, the staff of lawyers in 9 state bodies, including the state tax inspectorate of the city of Namangan, the financial department, the Extra-budgetary pension fund, medical association, department of culture, department of public education, department of preschool…
President of Uzbekistan Shavkat Mirziyoyev has held a meeting on speeding up the implementation of investment projects in the electrical engineering and pharmaceutical industries, as well as securing the production of competitive goods. As a result of measures taken to modernize these areas and expand the range of their products with higher added value, the…
During a video conference chaired by President Shavkat Mirziyoyev, priority tasks for the development of services in the regions were discussed. Services are an important sector of the economy. In the world, the share of the sphere in GDP is on average 61 percent. In our country, this figure reached 36 percent, while 86 percent…
Uzbekistan aims to deploy significant additional power capacity by 2030, including 5 GW of PV, 3 GW of wind energy, 3.8 GW of hydropower, as well as 2.4 GW of nuclear. Large solar PV plants with capacities of 100-500 MW will be built mainly in the central and southern regions, with 50-200 MW solar plants…
A videoconference was held between the leadership of the Ministry of Innovative Development of Uzbekistan and the Ministry of Science, Technology and Innovation of Malaysia. The Embassy of Uzbekistan in Malaysia has organized a videoconference between the leadership of the Ministry of Innovative Development of Uzbekistan and the Ministry of Science, Technology and Innovation of…
Countries participating in the United Nations Special Program for the Economies of Central Asia (SPECA) have recognized the need for a more comprehensive approach to economic restructuring for more effective recovery and achievement of the Sustainable Development Goals (SDGs) by 2030. At the SPECA Economic Forum, which opened today, senior officials also called for enhanced…
On 16-17 November, the Embassy of Uzbekistan in the UK jointly with the British Chambers of Commerce Association (BCC) and the British Chamber of Commerce in Kazakhstan (BCCK) with the support of the Ministry of Investment and Foreign Trade (MIFT) and the Chamber of Commerce and Industry (CCI) organized an online trade mission to our…
The Ministry of Innovative Development held talks with representatives of the Institute of Microbiology of Chinese Academy of Sciences and Anhui Zhifei Longcom Biopharmaceutical on conducting clinical trials of a recombinant coronavirus vaccine. The vaccine, developed by this company and currently undergoing clinical trials, is an engineering-genetic protein of coronavirus surface antigen and has a…
According to the results of January-September 2020, the foreign trade turnover (FTT) of Uzbekistan reached US$27.49 billion, compared to the same period of last year, decreased by US$3.75 billion. Of the total volume of the FTT, exports made up US$12.47 billion (by January-September 2019, a decrease of 6.0% was noted), and imports – US$15.02 billion…
For the first time ever, Uzbekistan has become a member of the UN Human Rights Council for 2021-2023. The move is said to be part of purposeful efforts aimed at enhancing the protection of human rights in the country, the significant stepping up by Uzbekistan of engagement into cooperation in this field, as well as…
Some indicators of the Bangladesh economy have started to show positive signs in the recent period. Among those are remittances and exports of readymade garments (RMG), which were affected hugely since the outbreak of Covid-19 in Bangladesh in March 2020. Both these sectors are important sources of employment and foreign exchange income for the country.…
Ambassador of Uzbekistan to the Benelux countries Dilyor Khakimov has taken part in the international online conference “Education 4.0. A new look at the tourism education system”. The event was organized by Modern Education & Research Institute (MERI), the State Committee for Tourism Development of the Republic of Uzbekistan with participation of the Embassy of…
World renowned Nike and Adidas are planning to open sport shoes production units in Uzbekistan, Fakhriddin Boboev, chairman of Uzcharmsanoat association, said. “We have reached an agreement with Nike and Adidas to enter our market. The production units will be set up in Andijan province. The JV Sino International plant plans to 3 million pairs…
On 23 September 2020, in the format of a video conference, a regional webinar of the Organization for Economic Cooperation and Development (OECD) was held on the topic: “Improving the legal environment for entrepreneurship in Central Asian countries”, which was attended by members of governments, heads of ministries and departments of the investment and economic…
Over the last month, and again last week, the U.S. Customs & Border Protection Agency went after China again. They imposed import bans on another five companies, bringing the total number of 9 companies in the Xinjiang province of far Western China due to the use of forced labor. Most of the bans were centered…
Gazprombank, one of the largest financial institutions in Russia, plans to open its representative office in Uzbekistan. The Supervisory Board of Gazprombank has decided to open a representative office in Uzbekistan. The decision was made on 22 September 2020. The Supervisory Board approved the decision of the Bank’s Board of Directors to open a representative…
The Government resolution approved the Program of measures for socio-economic development and poverty reduction in the city of Kattakurgan, Samarkand region for 2020-2022. According to the Program, 204 projects are planned to be implemented in the city of Kattakurgan for the purposes of integrated socio-economic development and poverty reduction in the specified years. In particular,…
Under the chairmanship of President Shavkat Mirziyoyev, a video conference on additional measures for the development of entrepreneurship in the regions was held on 24 September. Small business and private entrepreneurship is one of the points of economic growth, an important source of employment for the population. Therefore, special attention is paid to the development…
A high level meeting between leaders of knitwear sector under Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) and recently appointed Bangladesh Ambassador to Uzbekistan Mr Zahangir Alam was held at BKMEA Dhaka office on 17 September, 2020. The meeting was initiated and organized by Mr Mehdi Mahbub, Advisor to Uztextileprom (Uzbekistan Textile Association/ Ministry) and…
On 17-18 September, the Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) was held in the format of a videoconference, within the framework of which a High-Level Session of the Central Asia Regional Economic Cooperation (CAREC) dedicated to regional cooperation was also held during a pandemic and determining further steps…
Uzbek garment-textile exports rose by 112 per cent to $1 billion from January to July as new markets opened up and new products were developed. During the period, the country exported textile-garment products to 57 countries and regions. The main destinations were Russia (39 per cent), China (18 per cent), Kyrgyzstan (13 per cent) and…
Bangladesh remains one of the top sourcing destinations after China for international clothing retailers and brands even during the coronavirus pandemic because of its competitive prices, according to a new report by leading supply chain compliance solutions provider QIMA. After Vietnam, India and Bangladesh, alternative sourcing options of choice are still largely countries in Asia,…
Uzbekgidroenergo plans to obtain an international credit rating, issue bonds for placement on the London Stock Exchange and other plans. They are associated with the step-by-step implementation of the task of introducing the transition to International Accounting Standards (IAS) in the joint-stock company. International accounting standards cover a wide range of transactions, while relying on…
At a regular meeting of the Legislative Chamber of the Oliy Majlis, held on 26 August 2020, the draft law “On personal subsidiary plots” was discussed in detail in the first reading. At the meeting, the deputies noted some inconsistencies in previous laws and current legislation. For example, the current legislation provides for liability for…
Startups play a vital role in developing technology and driving innovation. At the current stage of economic development innovative entrepreneurship (startups) is rightfully considered the most significant driving force of socio-economic development. In the Year of Science, Enlightenment and Digital Economy Development, the Startup Initiatives support program will be held online due to the pandemic.…
On 19 August 2020, the Committee of the Senate of the Oliy Majlis on Science, Education and Health in the form of video conference held a meeting with senior officials of the International Labor Organization. The meeting focused on the preparation of a national strategy on social protection between the ILO and the Senate of…
On 16 August 2020, the Bangladesh Ambassador designated to Uzbekistan, Mr. Zahangir Alam held a meeting with the Advisor to Uztextileprom (Uzbekistan Textile Association/ Ministry) and President of Bangladesh RMG Centre, Mr. Mehdi Mahbub at Ministry of Foreign Affairs in Dhaka. They had threadbare discussions to identify collaboration scopes between Bangladesh and Uzbekistan. An incumbent…
On August 14, President of the Republic of Uzbekistan Shavkat Mirziyoyev became familiar with presentation of projects to expand the tourism potential. The suspension of international flights and introduction of restrictions on traffic due to the coronavirus pandemic has had a strong negative impact on tourism sector around the world, including in Uzbekistan. More than…
Representatives of the Embassy of Uzbekistan in China organized virtual talks between Uzagroservice JSC and China’s Xinjiang Boshiran Agricultural Machinery Technology on establishment of cooperation in agricultural machinery production. The parties discussed the issue of signing a Cooperation Agreement between Uzagroservice JSC and Xinjiang Boshiran Agricultural Machinery Technology. The Chinese side announced its interest in…
The Confederation of Indian Industries (CII) hosted a roundtable discussion on “India and Central Asia: Changing the agenda for future growth and prosperity”, via videoconference. The online event was attended by prominent politicians of the country, heads of companies and representatives of the business community, academic researchers, heads of diplomatic missions. Uzbekistan was represented by…
ADB approved a multitranche financing facility (MFF) in August 2009 for the program for up to $300 million from ADB’s Asian Development Fund. The program aimed to improve the living standards, environment and public health in eight of Uzbekistan’s 13 provinces through increased access to safer and more reliable water supply and sanitation (WSS) services…
Last week, the third annual meeting of the Consultative Council of the International Finance Corporation’s (IFC) Sustainable Cotton Supply Chain Project took place with the participation of the Cotton Campaign and several of its member organizations, as well as Uzbek human rights defenders, international organizations, and other stakeholders. The Uzbek government was represented by the…
A resolution of the President of Uzbekistan “On measures to implement the project “Modernization of agriculture of the Republic of Uzbekistan” with the participation of the International Bank for Reconstruction and Development and the International Development Association was adopted. To finance the project “Agricultural Modernization of the Republic of Uzbekistan” on 20 March 2020, the…
On August 12, President Shavkat Mirziyoyev chaired a videoconference on development of industry in the regions and expansion of manufacturing competitive products. Industrial enterprises play an important role in ensuring economic stability, maintaining existing jobs and creating new ones. Therefore, despite the pandemic, Uzbekistan has created conditions for uninterrupted operation of such enterprises. As a…
The Embassy of Uzbekistan in Turkey organized a meeting in Turkey’s Hatay region. At the meetings in the city municipality, the Chamber of Commerce and Industry, as well as the Association of Business People of the region, a presentation of the investment and tourism potential of Uzbekistan was held. Meetings and negotiations were held with…
Bangladesh’s investment to gross domestic product (GDP) ratio rose in the just-concluded fiscal year, data from the Bangladesh Bureau of Statistics showed on Tuesday, in what can be viewed as an inexplicable development as most indicators were pointing towards a contrary scenario. The finance ministry itself projected a far lower investment to GDP growth in…
Investors seeking to do business in Bangladesh can now avail three more public services at the One-Stop Service (OSS) portal in the website of Bangladesh Investment Development Authority (BIDA). Previously, 18 information-related services were available, including 14 of the BIDA and ones of the Registrar of Joint Stock Companies and Firms, the National Board of…
The government is strengthening the Bangladesh Investment Development Authority (BIDA) to make it is more sophisticated and investment-friendly. As part of reinforcing the investment promotion agency, the government is amending the BIDA Act which was passed sometime in 2016. The amendment is now in the final stage of approval by the ministry concerned. The amendment,…
Private Industry and Investment Adviser to the Prime Minister Salman F Rahman on Wednesday said Bangladesh will attain double digit next year in the global ranking of ease of doing business. He made the remark at a virtual meeting for the launching of three new services on the Online One Stop Service Portal of Bangladesh…
A resolution of the President of the Republic of Uzbekistan “On additional measures to ensure employment of the population, vocational training, attraction to entrepreneurship and increase labor activity of the poor and unemployed” was signed. The purpose of the resolution is to introduce a fundamentally new system of teaching modern professions and entrepreneurial skills, to…
Amendments and additions are made to some Government resolutions were approved. According to the amendments, the cash currency of Uzbekistan imported and exported by individuals and (or) cash foreign currency in excess of the equivalent of 70 million soums must be declared (currently US$2,000). In addition, cash foreign currency within an amount equal to or…
Bangladesh’s per capita income grew to $2,064 in the FY20, which was $1,909 in the last fiscal year. The Bangladesh Bureau of Statistic (BBS) revealed the figures as provisional data on Tuesday. Meanwhile, Gross Domestic Product (GDP) growth was recorded at 5.24% in the fiscal year 2019-20 which was 8.15%, the highest…
The Ministry of Justice of the Republic of Uzbekistan and the representative office of the German Society for International Cooperation (GIZ) in Uzbekistan signed a joint program of activities within the framework of the regional GIZ program “Promotion of legal statehood in Central Asian countries”. The event was attended by the Minister of Justice R.…
Uzbekistan aims to become one of the world’s largest gold producers within the next several years that will be achieved through more development of its domestic gold regions. According to latest data, published by the Uzbek State Committee for Geology, the country currently has 63 large-scale gold mining fields, which have total reserves of more…
Uzbekistan is one of the key countries in the implementation of Europe Asia Connectivity Strategy, where there is a huge potential for private sector involvement, Ambassador of the European Union Delegation to Uzbekistan Eduards Stiprais told Trend in an interview. “Firstly, this is the further development of transport routes, including towards China, but also towards…
Commerce Minister Tipu Munshi has asked Bangladesh embassies of different countries to work to take advantage of post-Covid-19 export trade. “For this, the ambassadors posted in different countries have to play an important role. Saudi Arabia, Kuwait and Uzbekistan are friends of Bangladesh. There are huge demands for Bangladeshi products in the countries. Trade opportunities…
The central bank is going to introduce a facility under which Bangladeshi expatriates will be able to open deposit accounts in any banks in Bangladesh. The deposit scheme will be in the form of savings for a period of one year or above with monthly or quarterly deposit options. Foreign currency will be converted into taka in…
Now employees of state bodies, public organizations, business entities, representatives of the social sphere and the media, as well as compatriots abroad who have made a worthy contribution to the development and popularization of the tourism industry in the Republic of Uzbekistan will be awarded badge for merit and active promotion of tourism. The procedure…
One of the projects implemented in Tashkent region at the expense of foreign direct investment is a joint venture in Yuqorichirchiq district Euro Global Invest. The total cost of this project is 30.3 million euros. It is planned to establish the production of prefabricated reinforced concrete products necessary for the construction industry. With commissioning of…
On 7 August 2020, under the leadership of Deputy Prime Minister of the Republic of Uzbekistan Sardor Umurzakov, a video conference was held to discuss the implementation of measures to provide comprehensive support to entrepreneurs and exporters of the republic, to take measures to increase exports domestic products, taking into account the current situation in…
The Embassy of the Republic of Uzbekistan in the Republic of Korea held a meeting with the head of the Travelers Club Library in Incheon, chairman of the Sopung Tour travel company Kim Kwang Sung, Dunyo news agency reported. Travelers Club Library was established in 2013 to increase interest in overseas travel among the Korean…
Uzstandard Agency has developed a number of draft guidelines based on the experience of member countries of the International Organization for Standardization (ISO). Manuals are prepared in a standard form and are used voluntarily. They set out recommendations for industrial enterprises on hygiene, infection and prevention, public catering, transport, camping, entertainment, education, business, health, sports…
On August 4 this year, the third meeting of the Advisory Board of the International Finance Corporation (IFC) project on the development of socially responsible and environmentally sustainable cotton production in Uzbekistan was held in the format of a video conference. The conference was attended by representatives of the World Bank Group, the German Society…
Chairman of China’s Yabang Investment Holding Group Company Limited Xu Xiaochu said Bangladesh is the most suitable place for investment for global enterprises as it has a large population and huge market potential. “It is the most suitable place for investment for global enterprises, especially for traditional industries. Now it is offering a historic opportunity…
Representatives of the Permanent Mission of Uzbekistan to the UN Office and other international organizations in Geneva and the State Customs Committee of the country held virtual talks with the staff of the United Nations Conference on Trade and Development (UNCTAD). At the event, issues related to the customs modernization of Uzbekistan and introduction of…
The customs authority has relaxed its rules in regards to the submission of Certificates of Origin (CoO), a declaration of the place of manufacture for any product, for goods imported under the South Asian Free Trade Area (SAFTA) trade pact in the SAARC bloc. The authority said it would accept electronic copies of CoOs for…
The Uzbekistan international trade in six months of 2020 decreased by 18.2% to the last year, the State Statistics Committee said in a report. In January-June 2020, Uzbekistan’s trade in goods with foreign countries US$ 15.8 billion, a US$ 3.5 billion decrease compared to the last year. Of the total volume of foreign trade, exports…
On 4 August 2020, the third meeting of the Advisory Board of the International Finance Corporation (IFC) project on the development of socially responsible and environmentally sustainable cotton production in Uzbekistan was held in the format of a video conference. The event was attended by representatives of the World Bank Group, the Deutsche Gesellschaft für…
Prime Minister Sheikh Hasina on Thursday asked the authorities concerned to work with utmost sincerity to make the country’s investment environment more attractive to further advance the national economy. “We want to take our economy forward and make our investment atmosphere more attractive. So, we’ve to give more attention to this matter and also work…
According to the latest statistics of the World Trade Organization (WTO), Bangladesh’s global clothing export market share has increased to 6.80 percent in the last year which was 6.40 percent in 2018. At the same time, Vietnam’s clothing export share has remained unchanged at 6.20 percent, however, the country has registered an annual growth of…
Today, representatives of the Ministry of Foreign Affairs of the Republic of Uzbekistan and the World Bank met in a videoconference format, at which they discussed issues of enhancing cooperation in the management of transboundary water resources and adaptation to climate change in Central Asia, Dunyo news agency reported. The meeting was attended by the…
According to the study “Uzbekistan Startup Indicator 2020” conducted by the Association of Venture Investment of Uzbekistan with the support of the investment fund “Sturgeon Capital”, IT Park Uzbekistan, JSCB “Universal Bank” and the law firm “Centil Law”, startups in Uzbekistan are more focused on the development of financial, medical and educational technologies. Measuring the…
Commerce ministry is set to establish four specialised technology centres (TCs) in economic zones (EZs) with an eye to boosting export earnings through adopting new technologies. Under a project, it will establish three state-of-the-art TCs at Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram and a specialised design and technology centre at Bangabandhu Hi-Tech City in…
Embassy of Uzbekistan in India organized negotiations between the leadership of Uzbekistan Textile Industry Association and a number of Bangladesh associations in the textile industry, via videoconference. The event was attended by the Advisor to the Chairman of Uzbekistan Textile Industry Association on reforming the textile industry M. Mahbub and heads of leading textile companies…
In the period from January to June 2020, the total volume of utilized foreign investment made up US$4.8 billion, including foreign direct investment – US$3.2 billion and foreign loans under a state guarantee – US$1.6 billion. At the same time, the volume of development of foreign direct investment in fixed assets reached US$2.6 billion with…
Bangladesh Bank has relaxed its policy for the foreign owned and controlled companies, which are operating in the country, allowing banks and non-bank financial institutions (NBFIs) to issue credit to the entities in local currency against foreign guarantees. “Given the ongoing situation due to the Covid-19 pandemic, it has been decided that banks and NBFIs…
What is necessary to do to return society to a normal life after a pandemic – this was discussed during the 21 July 2020 at an online forum on “Sustainable Development Goals and Sustainable Social Development: Effective Recovery from COVID-19.” During four working sessions of the forum, a wide range of issues of social development,…
On 21 July, President Shavkat Mirziyoyev held a meeting to discuss the provision of complete land registration and public cadaster system, introduction of digital technologies into the sphere. Accurate accounting and efficient use of land are very important for many spheres, such as agriculture, entrepreneurship, manufacturing, construction, geology. During his trips to the regions, the…
Foreign Minister Dr AK Abdul Momen has urged Bangladesh’s envoys in Europe to explore new markets for Bangladeshi products, including RMG as well as the country’s human resources during and after the Covid-19 pandemic. He made the call during a virtual meeting attended by Bangladesh envoys from the UK, Italy, France, Sweden, Belgium, Greece, Spain,…
The President of Uzbekistan Shavkat Mirziyoyev approved a new package of anti-crisis measures for the population, business, catering, trade and services. The text of the presidential decree was published by the Ministry of Finance. According to the decree of the catering enterprise: a) are exempt from payment: fee for the right to carry out retail…
On 17 July 2020, Deputy Foreign Minister of the Republic of Uzbekistan Sherzod Asadov met with the Secretary General of the Organization for Security and Cooperation in Europe Thomas Greminger and Chairman of the OSCE Permanent Council Igli Hasani in Vienna. During the talks, the sides discussed the current state and prospects for further deepening…
Bangladesh Venture Capital has invested an undisclosed amount of money in the seed round of AALO, a digital mediatech startup. A deal was signed on Monday at the Dhanmondi office of the local alternative investment firm, says a press release. The investor firm’s Acting Managing Director Md Jahir Uddin, Chief Investment Officer Hamidul Haque Khan,…
Uzbekistan produced 143,450 passenger cars in January-June 2020, which is 1.2% higher compared to the same period of 2019. According to the State Statistics Committee of Uzbekistan, in January-June 2020, 1,832 trucks were produced in the republic (by the corresponding period of 2019, the volume of production decreased by 25.4%). In the automotive industry, in…
The Asian Development Bank or ADB has reshuffled the current year’s projects, pushed back a few and included some fresh programmes with the objective of offsetting the impact of the pandemic on life and livelihood in Bangladesh. The changes were made while preparing the country operation business plan for 2021-2023 and updating it for 2020-2022…
Uzbekistan increased the output of cotton fiber by 33.4% in January-June 2020 compared to the same period of 2019. According to the State Statistics Committee, Uzbekistan produced 344,000 tonnes of cotton fiber in the first half of 2020. Enterprises of Uzbekistan produced 214,100 tonnes of cotton yarn in January-June 2020. The growth compared to the…
The third meeting of joint working commission on trade and economic cooperation between Bangladesh and Uzbekistan is likely to be held here in October aiming to expand trade and commerce, officials said. Commerce minister Tipu Munshi has already given his consent to hold the meeting between the two countries. The commerce ministry has asked the…
The capital market would become vibrant and dynamic in two years with various reform programmes, said Bangladesh Securities and Exchange Commission chairman Shibli Rubayat-Ul-Islam on Saturday. He made the comments at an online seminar titled ‘Capital Market and Covid-19: Charting Impact and Path to Recovery’, organised by the Chittagong Stock Exchange. Shibli said that the…
US$500 million agriculture modernization project finance agreement was signed with the World Bank on July 11. On behalf of Uzbekistan, the agreement was signed by the Deputy PM/Minister of Investment and Foreign Trade Sardor Umurzakov, while on behalf of the World Bank, Regional Director for Central Asia Lilia Burunciuc. The online signing ceremony was also…
Easy access to finance for smaller enterprises is required for employment generation and economic recovery during and after the pandemic, experts said on Saturday. They also called for creating a proper database of the labour market situation in the country to formulate time-befitting policies and provide financial and technical support to jobless people to integrate…
Tashkent, Uzbekistan (UzDaily.com) — In pursuance of the Resolution of the President of the Republic of Uzbekistan “On measures to implement the investment project “Construction of ammonia and urea production at Navoiazot JSC” from 21 July 2015, Uzkimyosanoat JSC is implementing an investment project jointly with a consortium of Japanese companies Mitsubishi Heavy Industries, Ltd and…
The government has expedited the process of replacing more than 70-year-old foreign exchange regulations in order to attract investments while improving the ease of doing business. The foreign exchange policy and operations in Bangladesh are now governed under the provisions of foreign exchange regulations, 1947, which empowered the central bank to regulate the movement of…
The ceremony of signing a Statement of Intent has been held between the Agency for the Development of the Capital Market of the Republic of Uzbekistan, the United Nations Development Programme (UNDP), and the Islamic Development Bank, establishing cooperation for the introduction of Islamic finance in Uzbekistan. The development of this new type of financing…
President Shavkat Mirziyoyev signed the Additional measures to further develop the competition environment and reduce state participation in the economy decree, which in particular, approved the Competition Development Strategy and Roadmap for its implementation until 2024 inclusive, Uzbekistan 24 reported. In accordance with the Decree, the Antimonopoly Committee shall become accountable to the Senate and…
A government resolution “On additional measures to improve the procedure for the development of promising investment projects” was adopted. In accordance with the decree, the shares of the Republican Design Institute “UzEngineering” and JSC “UzLITIneftegaz” in the authorized capital of JV “WorleyParsons Uzbekiston Engineering” LLC are transferred to the Center for Development of Investment Projects…
A solemn event dedicated to the presentation of new railway equipment was held today. The ceremony was attended by the heads of the board and responsible structural divisions of Uzbekiston Temir Yollari, as well as invited guests – representatives of domestic and foreign media. In total, two new electric locomotives of the 3ES5K series (“ERMAK”),…
By the end of 2021, an estimated 33 million people will loss their jobs owing to the fallout of Covid-19, while five emerging sectors will generate 40 lakh new jobs. Access to Information (a2i) – the flagship programme of the Digital Bangladesh agenda – revealed this while sharing the findings of their research titled…
Business is shrinking all over the world due to COVID-19 pandemic. People now merely go for physical shopping. Many reports have stated that currently, people are more inclined to online shopping. Here B2B platforms like Alibaba can play a vital role for Bangladesh and businesses can grow further if entrepreneurs think and act dynamically. On…
Officials of Uzbekistan and the European Union held the fifth round of talks on a new comprehensive bilateral agreement online on July 9-10, the Ministry of Foreign Affairs said. The Enhanced Partnership and Cooperation Agreement (EPCA) will replace the partnership and cooperation agreement that has been in force since 1999. Earlier, the Ministry of Foreign…
IFC, a member of the World Bank Group, is providing a $12.5 million long-term loan to JSC Indorama Kokand Fertilizers and Chemicals to finance the modernization of its fertilizer plant in Uzbekistan, which will create jobs and benefit the country’s agriculture sector. The investments will help the company introduce energy-efficient technologies to boost production capacity…
Dilshod Akhatov has been appointed the new ambassador of Uzbekistan to India, repalcing Farhod Arziev was appointed the first deputy foreign minister in February, the Ministry of Foreign Affairs said. Prior to this appointment, Dilshod Akhatov, 48, served as Deputy Minister of Foreign Affairs since May 2018. In 2010-2013, he served as the ambassador of…
The government has appointed Md Zahangir Alam, currently serving as additional secretary of the Legal Affairs Wing of the Ministry of Foreign Affairs, as the next ambassador of Bangladesh to the Republic of Uzbekistan. Ambassador-designate Zahangir belongs to 1986 batch of Bangladesh Civil Service (BCS) Administration cadre. In his career, he served in various capacities…
Few countries in the world are undertaking a liberalisation of their energy sector on the scale of Uzbekistan, as its government continues its effort to open up the country’s economy to more foreign direct investment (FDI). Power Technology reports in its article Uzbekistan energy minister makes ambitious plans that the population of Uzbekistan is growing fast and electricity…
One has got to feel for the garment workers. Despite the availability of low-cost loans to pay wages, repeated requests from the labour ministry and a recent uptick in work orders from international buyers, they are getting the chop. “So far, more than 25,000 workers have been fired although we have been suggesting the factory…
For a long time, a major issue that has plagued international trade is that payments are received many weeks, and sometimes even months, after the delivery of the goods. Such delays inevitably lead to cash flow problems for exporters, especially the small and medium-sized enterprises (“SMEs“), and can be further worsened by non-payment by the…
The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a loan of US $165.5m to improve road efficiency, safety and climate resilience of major cross-border roads in the Bukhara region in Uzbekistan. Good road connectivity is an essential growth driver in landlocked Uzbekistan. The country’s road network plays an important role in transporting goods and…
Uzbekistan filed an official application for the beneficiary status of the European Union’s General System of Preferences Plus (GSP +), the Ministry of Investment and Foreign Trade (MIFT) said. “Uzbekistan’s obtaining this status will help significantly increase the volume of exports to the EU and increase the competitiveness of Uzbke goods in the European market,…
Bangladesh and Uzbekistan have agreed to form Joint Working Group (JWG) to boost bilateral trade and investment through removing different barriers. Commerce Minister Tipu Munshi gave the information on Tuesday at a view exchange meeting with Uzbekistan’s Deputy Prime Minister and Investment and Foreign Trade Minister Sardor Umurzakov through a videoconference from the secretariat in…
The president of Uzbekistan, Shavkat Mirziyoyev, addressed the newly formed parliament on Friday (24 January), laying out his plans for the next five years. The banking sector, fighting corruption, foreign direct investment, poverty reduction and international trade were at the top of the agenda. Mirziyoyev took charge of Central Asia’s most populous country in 2016…
Bangladesh is looking to secure $166 million in financing to improve energy efficiency in the textile sector, with some one hundred million dollars being sought from the Green Climate Fund (GCF). The Infrastructure Development Company Limited (Idcol), one of two local direct access accredited entities empowered to handle GCF monies, will be seeking $100 million…
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have sought the government’s support to mobilise a fund for the well being of the 4.4 million RMG workers in the upcoming budget.In a letter written by the BGMEA president Rubana Haq, a special fund was sought to Finance Minister AHNM Mostafa Kamal to allocate a fund in…
Bangladesh is looking to secure $166 million in financing to improve energy efficiency in the textile sector, with some one hundred million dollars being sought from the Green Climate Fund (GCF). The Infrastructure Development Company Limited (Idcol), one of two local direct access accredited entities empowered to handle GCF monies, will be seeking $100 million…
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have sought the government’s support to mobilise a fund for the well being of the 4.4 million RMG workers in the upcoming budget.In a letter written by the BGMEA president Rubana Haq, a special fund was sought to Finance Minister AHNM Mostafa Kamal to allocate a fund in…
With the national Budget for the financial year 2019-20 just around the corner, the need for easing non-RMG exports has surfaced very strongly, perhaps more than ever before. There are demands from businesses for equal treatment of the non-RMG export industries at par with the garment sector which is commonly believed to be a far…
Female workers are playing a vital role to accelerate the economic activities in the industries in country’s eight Export Processing Zones (EPZs) with around 66 per cent participation in production. “Bangladesh Export Processing Zones Authority (BEPZA) has set a milestone in women empowerment. A large number of female workers are working in the EPZs. Among…
The government has allocated Tk 169.14 crore to pay a portion of the arrears of the state-owned jute mill workers ahead of the Eid-ul-Fitr. The payment has to be completed through bank accounts of workers, according to letters issued by Ministry of Finance, and Ministry of Textile and Jute today. A detailed statement, including the…
German Ambassador to Bangladesh Peter Fahrenholtz on Wednesday said they will work closely to promote Bangladesh’s RMG industry to his government, buyers and other stakeholders. The German envoy said this when he met president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Huq at her residence, reports UNB. Welcoming the new BGMEA Board…
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has sought the government’s support to help survive the country’s small and medium garment factories that are facing gradual closure for various reasons. It also called upon the US green certificate provider to set criteria to onboard the small and medium garment units in the environment-friendly process. “Big…
Uzbekistan is making strong progress implementing challenging economic reforms to support growth and build opportunities for citizens, says Cyril Muller, World Bank Vice-President for Europe and Central Asia. Visiting Uzbekistan on 26-27 February, Mr. Muller reaffirmed the World Bank’s continued support for the country’s transformation agenda. Mr. Muller met with Shavkat Mirziyoyev, President of Uzbekistan,…
Ten more garment factories received the top billing from the United States Green Building Council (USGBC) to take the total to 24, the highest in the world, in a heartening development for Bangladesh’s apparel sector, whose image has been battered by incidents of industrial accidents. Of the 24 platinum-rated LEED (Leadership in Energy and Environmental…
Before 2012, DBL Group used 120 litres of water for washing a kilogram of fabric. But by 2016, the garment maker was able to bring down its water consumption to 60 litres thanks to installation of modern technologies. This means, DBL can now save more than one billion litres of water in a year and…
Textile manufacturers losing domestic market has been a subject of worry for quite some time. Recent reports published in local dailies make it clear that the situation has assumed an alarming proportion due mainly to smuggling and other misdeeds taking too oppressive a toll on the capital-intensive industry. Some of these reports quoted textile manufacturers…
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has planned to establish a ‘RMG Sustainability Council (RSC) to ensure the full and independent national compliance monitoring system in Bangladesh, reports UNB. The RSC will be governed by BGMEA, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), brands, and workers’ representatives, said the apex body of the country’s…
In consideration of the volume of investment and sharp rise in the number of yarn and fabric manufacturing and dying-printing-finishing mills along with denim and home textile manufacturers, the textile sub-sector is one of the strong industrial divisions of the country. This healthy growth of the textile sector has enabled it to meet more than…
Apparel exports to the US, Bangladesh’s single largest export destination, jumped 15.57 percent to $1.63 billion in the first three months of the year, which the exporters and experts attributed to the ongoing trade war between the US and China. Apparel was not in the list of the items subjected to US President Donald Trump’s…
Bangladesh needs Tk 10,000 crore additional investments in the primary textile sector to reduce its import dependence for fabrics for the export-oriented garment sector. For instance, in 2018 Bangladeshi garment exporters imported 5.52 lakh tonnes of fabrics worth Tk 33,156 crore, according to data from the National Board of Revenue and Bangladesh Textile Mills Association…
Denim recycling, a process that turns old scrap denims into new garments, can fetch USD 4 billion annually, according to industry insiders.Besim Ozek, strategy and business development director of Bossa, told The Independent that the main idea of such recycling was to turn scraps into materials that were in great demand in the fashion world.The…
Bangladesh Textile Mills Association (BTMA) leaders have urged the government to reduce the income tax rate from 15 per cent to 12.5 per cent till 2028. They also urged the government to include yarn and fabric as VAT exempted items as the sale of local yarn and fabric has declined drastically BTMA leaders said the…
The country’s overall export to India reached US$1.07 billion during July-April period of the current fiscal (FY), 2018-19, marking a robust 53 per cent growth. Bangladesh earned $701.56 million during the corresponding period of last FY, according to the state-owned Export Promotion Bureau (EPB) data. The other non-traditional destinations where local export during the period…
Backward linkage factories – spinning, weaving, and knitting – in Bangladesh are running their businesses at a loss because of yarn dumping from India, and fabrics from China and Pakistan. Although apparel industries seem to benefit more from dumping, it makes them more dependent and vulnerable as a supplier of low-priced garments for export, states…
As the debate around factory safety and the future of Bangladesh Accord on Fire and Building Safety in Bangladesh rages on, it is often forgotten that the readymade garments (RMG) industry in the country has made huge progress in recent years. A full-fledged technological upgrade is ongoing in the sector.There is a growing trend of…
The Kenyan Government recently approved setting up of a big textile factory by Mas Holdings Singapore, a Sri Lankan apparel and textile manufacturer, in the export processing zone (EPZ) in what is being projected as a big boost for President Uhuru Kenyatta’s employment generation plans. The unit will create jobs for 3,100 once operational in…
Garments shipments to non-traditional, mostly major markets grew by 29.62 per cent year-on-year to USD 3.15 billion in the first nine months (July–march) of FY2018-19 compared to USD 2.43 billion during the same period last year. This growth has been possible because of an incentive package and access to duty-free markets.Markets, other than the traditional…
Exports grew 2.69 percent year-on-year to $3.03 billion in April riding mainly on the higher shipment of apparel items. Last month’s receipts, however, fell short of the government’s monthly target of $3.08 billion by 1.52 percent. The overall export of merchandise from Bangladesh also showed a positive trend between July and April, the first 10…
On March 1, 2019 at 18:30, at the GroundZero Technoplasma, was held a workshop on textile industry with the participation of well-known Bangladeshi expert. The seminar was conducted by the CEO of Best Sourcing, President of Bangladesh RMG Center Mr. Mehdi Mahbub. During this seminar, the participants are discuss the development of textile and clothing…
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