Asia Alliance Bank has become fully state-owned; Tatneft plans to create a network of petrol stations in Uzbekistan; State Committee for Investments has developed a system of online monitoring of investment projects; Dutch Meijer plans to create a potato cluster in Jizzakh region; American Imperial Jewelry Inc. will invest $20 million in the creation of jewelry production in Tashkent; In Uzbekistan, the rules for the sale of metals are to be changed.
Asia Alliance Bank is now owned by the state, follows from the data of the Central Bank. Now there are four state banks in the country – Poytaht Bank, NBU, Halq Bank and Asia Alliance Bank. In October 2018, it was reported that 45% of the shares of Asia Alliance bank were transferred to the state, but that information was not confirmed.
At the end of December 2018, it was announced that the management of the bank was passed to civil servants – the composition of the Council of the Bank and the Audit Commission were completely changed.
Thus, there are six private banks left in the republic – “Trustbank”, “Turkiston”, “Davr-bank”, “Ravnaq-bank”, “Hi-Tech Bank”, “Orient Finance”. Five banks were created with the participation of foreign capital – Savdogar, Hamkorbank, KDB Bank Uzbekistan, Ziraat Bank Uzbekistan and a subsidiary bank of the Iranian bank Saderat in Tashkent. The remaining 14 banks are joint-commercial.
The Russian Tatneft plans to begin building a network of petrol stations in Uzbekistan this spring. At the first stage 22 filling stations will be built in the Tashkent region.
At the end of December 2018, the Russian company registered a sales subsidiary of LLC Tatneft-AZS-Tashkent in Nurafshon.
Tatneft will supply its own fuel to the petrol stations in Uzbekistan and rent tanks of Uznefteprodukt for the storage of finished products.
The State Investment Committee created an intranet for online monitoring of investment projects.
It will make it possible to create a system for monitoring the implementation of projects involving foreign direct investment.
Each stage of the project cycle is recorded in the system with the help of downloaded photographic materials and documents. Thus, all interested parties will be able to follow the progress of a certain investment project in real time.
One of the world’s leading companies for the supply of seed potatoes – the Dutch Meijer plans to implement a number of projects in Uzbekistan.
This was announced after negotiations between representatives of the Uzbek embassy in the Netherlands and the company’s general director, Erica van Daas.
At the meeting, the parties noted that the commissioning of the first in Central Asia plant for the production of potato chips based on Dutch technology opens up new opportunities for further expansion of production and export of value-added products.
American Imperial Jewelry Inc. will invest $20 million in the creation of jewelry production in Tashkent
To implement the project, the Americans have already created a foreign enterprise in Uzbekistan in the form of a limited liability company Imperial Jewelry. It will receive a part of the property complex of the state enterprise “1-Zargarlik Korkhonasi” and the premises of the state enterprise “2-Zargarlik Korkhonasi” at the “zero” purchase price.
Investors committed themselves to invest $20 million in the first three years and reach the design capacity of up to 10 tons of products per year by the end of this period. In addition, they must create at least 100 new jobs.
Last year the Uzbek authorities announced large-scale plans for the production and export of jewelry.
Until April 1, 2019, the Ministry of Economy and the Central Bank should develop proposals for the introduction of a mechanism for lending precious metals at jewelry manufacturing enterprises and for granting manufacturers the right to purchase such products on the basis of direct contracts.
The government also plans to determine the pricing procedure for precious metals and allow the population to open impersonal metal accounts.
Soon it will be possible to freely buy a measuring bar, place it in a bank and receive income in the form of interest.