Uzbekistan to attend Road Shows in US and UK ahead of issuing first international bonds; Uzbekistan rises in the international classification of solvency; Joint-stock companies Uzbekenergo and Uzbekneftegaz to be restructured; Freyssine will build cement plant for consumption to Uzbekistan Temir Yollari; Belarus will build new technological park in Uzbekistan;
From 7 to 14 February, Road Shows (meetings with investors) will be held in New York, Boston (USA) and London (United Kingdom) in order to issue and successfully place the first international bonds of Uzbekistan, the Ministry of Finance reported.
Based on the conditions and trends in the international financial markets, it is planned to issue the country’s first state international bonds for a period of 5 and/or 10 years.
During the Road Show, the delegation of Uzbekistan is expected to hold negotiations with large investors. Following the meeting, the first steps to integrate with international financial markets will be implemented.
The Organization for Economic Co-operation and Development (OECD) has improved the position of Uzbekistan in the classification of country credit risk.
The Committee, which includes export-credit and other agencies of member countries, annually analyzes quantitative and qualitative data from more than 200 countries of the world and divides them into seven categories according to the level of financial risks. The first group of countries – with the highest solvency, the seventh – with the lowest.
Uzbekistan in the updated classification of country credit risks, which was published by the OECD on February 1, improved its position and moved from the sixth to the fifth group,” the Ministry of Finance noted. In addition, group 5 includes Kazakhstan, Azerbaijan, Brazil, Turkey, Serbia and Vietnam.
For many years, Uzbekistan has sent official applications for transfer from the 6th group, but earlier they did not produce results. In this regard, the current achievement is of historical significance.
Shavkat Mirziyoyev signed a decree “On measures to organize the activities of the Ministry of Energy of the Republic of Uzbekistan”. According to the document, a special commission for reforming the electricity industry in collaboration with the Ministry of Energy was tasked to develop models for reforming the electricity industry with preparing a detailed roadmap for implementing the proposed reforms by March 1, 2019 with technical assistance from the World Bank.
At the same time, by March 15, the above structures were instructed to prepare a draft presidential decree on restructuring the JSC Uzbekenergo in accordance with the modern scheme for organizing the production, transportation, distribution and marketing of electric energy.
In addition, by April 1, it was entrusted to prepare a draft presidential decree on restructuring the JSC Uzbekneftegaz providing for optimization of inefficient management structures, reorganization of oil and gas enterprises based on the profile of activities, attracting private, including foreign, direct investments in their development on a public-private partnership.
A meeting with representatives of the French construction company Freyssine was held at the joint stock company Uzbekistan Temir Yollari. The sides considered re-conducting geological surveys on proposed for the construction of the territory in Pakhtachinsky district of Samarkand region, as well as introduction of new technical equipment and modern technologies.
The possibilities of the plant and its potential were discussed as well. In particular, experts noted that the planned production capacity of the new enterprise will be about 1 million tons of high-quality cement products per year.
During the meeting, issues of urban planning in Tashkent and new facilities of the capital were discussed. The sides discussed construction of bridges and subways.
The delegation of Belarusian National Technical University headed by the First Vice-Rector Georgy Vershina visit Uzbekistan on 24-31 January. The delegation visited Islam Karimov Tashkent State Technical University to discuss further cooperation in the field of education, science and innovation creating Technopark.
The sides decided to focus on a project for development and production of medical products. In order to promote the scientific and technical developments of the Belarusian National Technical University and to attract medical specialists to the innovative project, the Belarusian delegation held meetings with the leadership of the Emergency Medical Aid Center and the Republican Specialized Center for Traumatology and Orthopedics of the Ministry of Health of the Republic of Uzbekistan.
During the negotiations, representatives of medical institutions of Uzbekistan expressed interest in BNTU products and readiness for joint development and organization of production of medical products in Uzbekistan.