Canceled a ban on the publication of some information; Uzbekistan plans to issue sovereign bonds for implementing various infrastructures and covering the budget deficit;Belarusian investors express interest in Eyvalekmakhsustemirbeton;Uzbekistan announces tender to attract investors for construction of solar photovoltaic stations; Uzbekistan attracts investment for production of high-quality paint products;
Four types of information will cease to be secret. This is provided for by a governmental decree signed on February 1.
This is being done in fulfillment of the presidential decree “On additional measures to diversify sources of external financing” which deals with obtaining a sovereign credit rating and issuing the first ever Eurobonds.
Since the successful issuance of bonds requires transparency, now the ban on official publication is lifted from:
- information on total mineral reserves, production and sales, as well as the flow of funds;
- financial reports from the Fund for Reconstruction and Development, the Almalyk and Navoi mining and metallurgical combines since 2013;
- information on gold reserves and their structure until 1 January 2017;
- information about the total amount of public and state guaranteed debt (domestic and foreign), their sources, currency form, interest rates, as well as data on the acquisition of this money in the context of organizations and their return.
Uzbekistan plans to issue sovereign bonds for implementing various infrastructures and covering the budget deficit
In 2019, Uzbekistan plans to issue and place sovereign bonds at a fixed coupon rate of at least $500 million and a circulation period of 5 or more years.
State securities of Uzbekistan will be issued in the form of international bonds – equity securities traded outside the territory of the republic, the initial placement of which is carried out through a group of financial organizations.
The cost of international bonds will be expressed in foreign currency. At the same time, they are not subject to quota requirements and procedure for admission to the placement and circulation of securities established by law.
The volume and other conditions of issuance, placement and depository accounting of international bonds will be determined by the Ministry of Finance, they will also not be subject to mandatory depository registration in the Central Securities Depository of Uzbekistan.
A Belarusian delegation of Mogilev Plant Strommashina held a meeting with officials of Uzbekistan Temir Yollari (Uzbekistan Railways).
During the meeting, issues of modernizing of production of Eyvalekmakhstemirbeton, introduction of new technologies, expansion of the range of products (sleepers, various types of pipes, reinforced concrete products, fencing and other types of structures) were considered. The parties exchanged offers to purchase the necessary equipment.
The Belarusian delegation visited Eyvalekmakhstemirbeton and familiarized itself with the plant’s activities and its production process.
Mogilev Plant Strommashina OJSC is a multi-purpose machine-building enterprise specializing in the production of technological lines and separate equipment for the production of building materials and concrete sleepers.
Uzbekistan, with the assistance of the International Finance Corporation (IFC), announced a tender to attract private investors for construction of solar photovoltaic stations on turnkey basis.
On 1 February 2019, Uzbekenergo published a document requesting prequalification (RFQ) for construction of a 100 MW solar photovoltaic station in Navoi region of Uzbekistan.
The construction site of the project is located approximately 30 km west of the city of Navoi. While the boundaries of the construction site are still subject to final approval, the area ofthe construction site varies from 250 to 300 hectares.
The construction site has an access road in good condition, and it is located next to the 220 kV network of Uzbekenergo.
Selection of the investor, as expected, will be completed in the first half of 2019, Uzbekenergo noted.
The meeting was organized by the Embassy of Uzbekistan in Kuala Lumpur to ensure further modernization and diversification and production of competitive finished products.
During the meeting, the possibility of creating an Uzbek-Malaysian joint venture to organize production of high-quality paints and varnishes in the territory of the FEZ “Hazorasp” was discussed.
Representatives of Zhaloliddin Sharif LLC got acquainted with the energy-efficient and high-tech production facilities of KCC Paints Sdn. Bhd.
After meeting, an agreement was reached on organization of the visit of KCC Paints Sdn. Bhd. to Uzbekistan to study the possibility of organizing the production of export-oriented paint and varnish products.
On 30 January 2019, the Embassy of Uzbekistan to the United States in the format of a videoconference organized negotiations between the leadership of the State Committee of the Republic of Uzbekistan on geology and mineral resources and senior representatives of the United States Geological Survey (USGS), the Ministry of Foreign Affairs of Uzbekistan said in a statement.
USGS is a government research and development structure, specializing in the study of natural resources and forecasting and overcoming the consequences of natural disasters in the United States with an emphasis on such disciplines as biology, geography, geology and hydrology.
According to the Embassy of Uzbekistan, following the talks, the parties agreed to organize a visit of the USGS delegation from 4 to 7 February to Tashkent to hold targeted meetings with relevant ministries and departments of the republic and develop practical measures for the further development of bilateral research cooperation.