German Investment Corporation DEG allocated 3 million euros to “Ipak Yuli” Bank; Uzbekistan simplified transit of goods through its territory; Uzbekistan expressed its willingness to invite the Dutch airline KLM to the country; The issue of government securities will be continued in December; City Wi-Fi network has been launched in Tashkent; WindEurope wonders why Uzbekistan does not use its capabilities in wind energy; There are about 7.400 enterprises with foreign capital participation registered in Uzbekistan.
German Investment Corporation DEG allocated 3 million euros to “Ipak Yuli” Bank
On December 11, 2018, the German investment corporation DEG (Deutsche Investitions und Entwicklungsgesellschaft) allocated €3 million to the joint-stock innovative commercial bank “Ipak Yuli” under the Subordinated Loan Agreement between the parties concluded on November 26 of this year.
The projected line of financing and subordinated loan will allow “Ipak Yuli” bank to significantly increase lending to small and private entrepreneurship, as well as projects in the field of energy efficiency in Uzbekistan.
Uzbekistan simplified transit of goods through its territory
In compliance with the governmental decree dated December 15, certain parts of the rule on traffic transition through the territory of Uzbekistan have been adjusted. According to the new changes, the period during which transit vehicles have to leave the country has been extended from 3 to 5 days from the date of entry.
In addition, 47 new routes have been opened for the transit movement of foreign road carriers through the territory of Uzbekistan. The largest number of them is available through the entrance from the Tajik (18) and Turkmen (12) borders.
It is also now permitted to transfer goods from a foreign car to national carriers under customs control at customs warehouses located outside established transit routes.
Uzbekistan expressed its willingness to invite the Dutch airline KLM to the country
On December 14, the Ambassador of Uzbekistan in the Benelux countries, Diler Khakimov, met with the Director of International Affairs of the Netherlands KLM airline, Jan Vriburg, the press service of the Ministry of Foreign Affairs reports.
The parties discussed the prospects for establishing cooperation between Uzbekistan and the Netherlands in the field of air traffic and emerging new opportunities as a consequence of the liberalization of the tourism industry in our country, as well as the latest changes in the aviation industry.
It is reported that KLM is interested in working with the Uzbek side new routes connecting the airports of the Netherlands, in particular Schiphol, through Uzbekistan with other countries of Central Asia, the Far East region and India.
The issue of government securities will be continued in December
From December, Uzbekistan will continue issuing government securities, suspended in 2012. Funds from their placement will go to the state budget and be directed to the implementation of major investment projects.
Government securities will be backed up with all assets held by the government. They will be issued by the Ministry of Finance in non-documentary form for circulation in the securities market of Uzbekistan.
The Central Bank will deal with the placement and redemption of government securities issues through the trading floor of the Uzbek Republican Currency Exchange on behalf of and at the expense of the Ministry of Finance. They will be placed among commercial banks and legal entities – residents of Uzbekistan.
City Wi-Fi network has been launched in Tashkent
In Tashkent, a single city Wi-Fi network has been launched under the SOLA brand, with 1.200 access points. The Internet can be used either free of charge or by payment.
“Tashkent will be the first city in Central Asia with a citywide network of wireless broadband access to the Internet,” reports Asia Wireless Group, which has implemented the project.
“The coverage area will be constantly expanded in accordance with the incoming applications for connection. In our near future we plan to install Wi-Fi networks in the tourist cities of Uzbekistan,” the head of the company said. In particular, the operator intends to establish 45 thousand access points in Jizzakh, Samarkand, Fergana, Andijan, Namangan, Bukhara, Navoi, Urgench and Karshi.
WindEurope wonders why Uzbekistan does not use its capabilities in wind energy
December 14, WindEurope took part in a meeting on energy cooperation between the EU and Uzbekistan in Tashkent, the association reported.
At the meeting, Pierre Tardieu from WindEurope stressed that there is not a single reason that would prevent such a country rich in wind resources, as Uzbekistan, from taking advantage of wind power.
“If there is an appropriate domestic policy (in particular, the regulatory framework), the country’s wind power market can attract significant investments,” the report says.
There are about 7.400 enterprises with foreign capital participation registered in Uzbekistan
As of December 1, 2018, the number of operating enterprises with foreign capital in Uzbekistan made up 7.371. Compared with the previous year, the growth in the number of operating enterprises reached 33,8%, or 1.863 units. Of these, joint ventures account for 3.923 units, and foreign – for 3.448 units, according to the State Statistics Committee of Uzbekistan.
The main part of enterprises with the participation of foreign capital falls on the city of Tashkent – 4.643 units (63%), Tashkent region – 825 units (11,2%) and Samarkand region – 391 units (5,3%). The smallest part accounts for Khorezm region – 70 units (0,9%), Kashkadarya region – 78 units (1,1%), Navoi region – 100 units (1,4%) and the Republic of Karakalpakstan – 116 units. (1,6%).
This indicates the need to strengthen joint work with foreign partners, to develop and attract foreign investment in these regions.