Stratfor: In Central Asia, the United States is most interested in Uzbekistan; Russian export center increases loan portfolio in Uzbekistan; Uzbekistan decided to create a national brand of facing stones and provide manufacturers with benefits; List of natural monopolies to be seriously reviewed; “Attracting investment, increasing exports and escalating the tourist flow will be our main tasks in 2019” – Deputy Foreign Minister.
Stratfor: In Central Asia, the United States is most interested in Uzbekistan
In 2019, the United States intends to actively compete with Russia for investments in Uzbekistan, experts at the American think tank Stratfor say.
It is also noted that Uzbekistan is emerging out of the shadow. Hence many countries see opportunities to increase their influence in the country.
The agency believes that Uzbekistan is likely to request as much economic support from both countries as possible, while maintaining a balance that will not allow entering into any formal alliance.
Russian export center increases loan portfolio in Uzbekistan
By the end of 2018, the Russian export center plans to increase its loan portfolio in Uzbekistan to $750 million.
In the first half of the year, this figure exceeded $500 million. One of the recent contracts is the construction of a GTL enterprise and Tashkent metallurgical plant. In the latter case, funding amounted to $140 million will be directed to the purchase of various equipment.
In addition, now the parties are discussing financing of the supply of Russian dredgers and the extraction of nonmetallic building materials.
Uzbekistan decided to create a national brand of facing stones and provide manufacturers with benefits
By March 1, 2019, a national brand and catalog of natural facing stones found on the territory of the republic will be created in Uzbekistan.
In addition, a special government decision will be published that determines the order of widespread use of construction materials produced from local non-metallic materials at construction sites financed by the State budget and centralized sources, as well as the procedure for the evaluation of non-metallic minerals in cases of illegal mining.
Until January 1, 2022, several privileges are introduced for all economic entities that have licenses for the extraction of natural facing stone and the right to use technogenic mineral formations.
- exemption from customs payments for imported equipment, used for the extraction and processing of natural facing stones, as well as for processing of technogenic mineral formations of natural facing stones according to established lists;
- decrease in the established rate of profit tax for legal entities engaged in the extraction and processing of natural facing stones, as well as the processing of man-made mineral formations of natural facing stones.
List of natural monopolies to be seriously reviewed
A draft resolution of the Cabinet of Ministers “On development of draft legislations in 2019 and program of submitting them to the Legislative Chamber of Oliy Majlis of the Republic of Uzbekistan for approval” was placed on the portal of discussions of normative-legislative acts.
The document envisages the development of draft laws in 2019 and program of introducing them to the Legislative Chamber of Oliy Majlis of the Republic of Uzbekistan. According to the program, a new edition of the draft law “On competition” will be developed.
The draft law envisages:
- a serious reconsideration of the list of areas of natural monopoly in order to reduce the scope of state-regulated activities;
- improvement of the anti-monopoly mechanism;
- taking appropriate measures against monopolistic enterprises;
- ensuring the balance between the intellectual property rights and antimonopoly rights;
- regulating the market of information systems.
“Attracting investment, increasing exports and escalating the tourist flow will be our main tasks in 2019” – Deputy Foreign Minister
In January-October 2018, exports of goods and services amounted to $10.3 billion, about 4 million foreigners visited Uzbekistan. In total, it is expected that until the end of the year $2.7 billion investment will be attracted. Next year, the Ministry of Foreign Affairs of Uzbekistan plans to continue work in these directions.
“Three points – attracting investment, increasing exports and escalating the tourist flow will be our main tasks in 2019,” Mr. Nematov said.
The Ministry’s other plans include building a dialogue with compatriots living abroad, as well as improving the legal framework of foreign political activities.