Korean company proposes to build centers to monitor GBE of cars in Uzbekistan for $50 million; Synthetic liquid fuel producing plant worth $ 2,3 billion to be built in Uzbekistan; A meeting with the largest agrifood company took place at the State Investment Committee; Uzbek-Russian joint venture has been created in Navoi region; Foreign trade turnover of Uzbekistan increased by 17,6% in January-November 2018.
Korean company proposes to build centers to monitor GBE of cars in Uzbekistan for $50 million
“SMC Co., Ltd has proposed the creation of a test center in Uzbekistan that will be engaged in the inspection of gas-balloon equipment (300 laboratories) and technical inspection of vehicles (150 laboratories) across the country. Besides, they offered establishing a non-destructive testing center on the basis of one of the educational institutions where modern IT-technologies will be provided,” the ministry noted.
The Korean company is ready to invest $50 million in the project and cooperate in the form of a public-private partnership with direct financing from Korean financial institutions on mutually beneficial terms.
Considering the fact that incidents related to the explosion of vehicles with GBE are becoming more common, and there are shortcomings in the system for ensuring the safe operation of vehicles using gas-balloons, Uzbekistan will have to conduct a meeting with representatives of the industry in the nearest future to discuss the submitted project and sign a cooperation agreement.
Synthetic liquid fuel producing plant worth $ 2,3 billion to be built in Uzbekistan
A ceremony of signing financial documents worth $2,3 billion for the construction of a plant “Uzbekistan GTL” that produces synthetic liquid fuel was held in Tashkent.
The documents were signed by the representatives of Uzbekneftegaz, Uzbekistan GTL, the State Development Bank of China, the Export-Import Bank of Korea, the Korean Trade Insurance Corporation, Gazprombank, the Russian Agency for Insurance of Export Credits and Investments, the Swiss Bank Credit Suisse, the Japanese banks MUFG, SMBC and Mizuho.
“The GTL project is one of the largest investment projects not only in Uzbekistan, but also in the whole region. Today, Uzbekistan sets itself new goals and objectives for economic development and the construction of modern enterprise of this kind is a confirmation of full determination of the republic to continue the initiated reforms,” – the chairman of the board of Uzbekneftegaz Bahrom Ashrafkhanov said.
A meeting with the largest agrifood company took place at the State Investment Committee
Phoenix Agro Industry and Trade Company CA is a global agrifood group engaged in the production, supply, processing and sale through an integrated supply chain. The company is engaged in projects in more than 20 countries, including Ukraine, Russia, Vietnam and other countries. Today, there is an active expansion of cooperation with Central Asian countries. For example, the company has invested more than $130 million in Kazakhstan.
The company expressed its willingness to invest in Uzbekistan, as there are favorable conditions created for foreign investors, in particular, in the cultivation and processing of agricultural products.
The need to introduce the most advanced technologies in the agrarian sector of Uzbekistan was noted in order to increase crop yields, in particular, new types of agricultural equipment, innovative agricultural technologies, crop rotation practices, etc.
Uzbek-Russian joint venture has been created in Navoi region
In Karmana district of Navoi region, an Uzbek-Russian joint venture “Salyus-Uzbekistan” has been established to attract $10 million of investment within the framework of the memorandum of cooperation.
“Navoi” branch of the Academy of Sciences of the Republic of Uzbekistan will act as a founder of this joint venture with its scientific-technical and intellectual support.
According to the report of the Academy’s press service, it is expected that the enterprise envisages using high-energy electrons by means of electronic accelerators, which are the most innovative technology in Navoi, Samarkand, Andijan, Fergana and Namangan regions so far. Additionally, it is planned to establish scientific production centers specialized in processing agricultural products.
Foreign trade turnover of Uzbekistan increased by 17,6% in January-November 2018
Foreign trade turnover of Uzbekistan in January-November 2018 amounted to $28.664,7 million, which shows a 17,6% increase compared to the same period of the previous year, the State Committee for Statistics said.
Uzbekistan’s export was recorded at $11.324 million (decrease by 3,2 %) in the given period, while the volume of import reached the mark of $17.340,7 million (increased by 36,8 %). The balance of foreign trade was minus $6.016,7 million.
As a result of the increase in the production of manufactured goods that replaced imported products and the diversification of industrial production, significant changes have been achieved in the structure of exports.