Uzbekistan and South Korea are implementing projects for production of shirt and blended fabrics; Indians will create the first agricultural cluster in the Andijan region; Sugar factory to be built in Tashkent region; “Hippodrome market” shares started to be traded on the stock exchange; Government will leave companies of non-strategic value
Uzbekistan and South Korea are implementing projects for production of shirt and blended fabrics
On 15-19 January, Association “Uztextileprom” organized a visit of a delegation of Daewon Co (Republic of Korea) to the Republic of Uzbekistan.
Within the framework of the current visit of the South Korean delegation, a meeting was held with the leadership of the Uztekstilprom Association, during which investment proposals for cooperation in the textile industry were discussed.
In turn, the Korean side expressed its willingness to implement a project to create a production of shirt and other types of fabrics, as well as finished products worth $10 million in Tashkent region, with a production capacity of 1.8 million square meters of blended fabric. The project is planned to be implemented jointly with the domestic company Istiklol Design.
Indians will create the first agricultural cluster in the Andijan region
Indian Gujarat Agro Industries Corporation Ltd plans to create an agro-cluster in the Andijan region.
Agro-cluster will carry out the cultivation and production of crops and fish products, their processing, delivery, and marketing. It is planned to organize it as a pilot project on the land area of 15-20 thousand hectares in the Andijan region. In the future, similar clusters are expected to appear in other regions.
It is worth noting that Gujarat is leading in the cultivation of cotton, peanuts, tobacco and cane sugar, and there are also plantations of wheat and various cereals in the state. In addition, Gujarat is the first in the production of milk and butter, meat, eggs, vegetable oil and sugar.
Sugar factory to be built in Tashkent region
The Ambassador of Uzbekistan to Belgium Dilyor Khakimov met with the leadership of the Belgian company DSEC. During the meeting, prospects for the implementation of a project on the organization of sugar production in the territory of the Tashkent region were discussed.
It was noted that DSEC had preliminary negotiations with potential borrowers, including the German Commerzbank to provide a loan to the Uzbek side, as well as with the European Credit Insurers Group “Credendo” to cover the risks associated with the implementation of the investment project.
The project is worth 110 million euros. Of these, 25 million euros will be allocated by the Uzbek side and the remaining amount by potential investors.
“Hippodrome market” shares started to be traded on the stock exchange
Shares of JSC “Chilonzor buyum savdo kompleksi” (known among the population as the “Hippodrome market”) started to be traded on the stock exchange.
This week, 39 transactions involving 48,961 shares in the amount of 1.3 million soums were made. They were traded at 25-28 soums per share with a nominal value of 10 soums.
In addition, this week a new record for the number of transactions was set on the stock exchange. From January 14 to January 18, 1125 transactions with corporate securities of 32 issuers in the amount of 2.323 billion soums were made.
Government will leave companies of non-strategic importance
The list of non-strategic importance companies will be prepared by July 1 and consequently state-owned shares will be sold. This is provided by Presidential decree. The list will be formed with the involvement of international financial and consulting organizations. After that, international business communities will hold a road show of perspective investment projects, including the companies where the state stock is expected to be sold. The project in this area will be prepared by July 10.
Reducing state participation in the economy is one of the main directions of reforms in Uzbekistan. International organizations have repeatedly pointed out that an excessive state presence in business slows down not only individual sectors, but also the entire economy of the country as a whole.
In recent years, the situation in this direction has begun to improve. Large enterprises have been handed over to private companies for trust management, because the state is always a bad manager when it comes to business. Among these assets can be noted “Uzvtortsvetmet”, “Uzmetkombinat”, “Dori-Darmon”, “Uzbekugol” and others. As a result, it is expected that state-owned companies after restructuring and privatization should become more efficient and competitive.