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…