Uzbekistan to create 6 small industrial zones in districts; World Bank to carry out another project in Uzbekistan; British law firm to help Uzbekistan to attract investments; Uzbek Hamkorbank has good diversity across key business sectors: S&P; Uzbekistan grants foreign carriers right to use its largest transport pass.
In accordance with the decree of Uzbek President Shavkat Mirziyoyev, six small industrial zones will be created on the area of 149.3 hectares in Namangan city, as well as in Namangan, Narin, Pap, Turakurgan and Chust districts.
Construction is underway in the Pakhtalikkul industrial zone on an area of about 2.8 hectares by 15 business entities. In the coming days it is planned to complete the construction and launch production plants. The full involvement of projects in the industrial zone will make it possible to establish production of men’s, women’s and children’s footwear, garments and other products, and about 800 jobs will be created.
The World Bank and the Ministry of public education of Uzbekistan will carry out the first pilot project worth $30 million.
The World Bank experts were familiarized with the existing problems of administrative and financial management in the system of public education. The issues of complex solution of such problems as non-transparency of administrative and financial management, budget planning, financial control, logistics processes, construction and installation work and fitting-out of schools, unbalanced load of schools and fight against corruption were also discussed.
This firm specializes in legal support of international commercial activities of companies and resolution of international commercial disputes.
The involvement of international law firms and international experts, as well as the improvement of mechanisms for the resolution of international commercial disputes is an important aspect in the development of the investment climate of the country and attraction of foreign investment.
S&P Global Ratings assigned its ‘B+’ long-term and ‘B’ short-term issuer credit ratings on Uzbekistan-based JSCB Hamkorbank with the stable outlook, S&P stated in its press release.
With total assets of 5.65 trillion soums (about $700 million) as of May 1, 2018, Hamkorbank is the largest-privately owned bank in Uzbekistan and eighth-largest bank in the country with 40 branches and 158 mini-offices.
This is provided for by the changes and additions to the list of routes intended for the transit movement of foreign road carriers through the territory of the country.
Eight new routes have been added to the list of routes intended for foreign carriers, Previously, the list included 44 such routes.
The government of Uzbekistan is considering now the construction of a second road tunnel on the Kamchik pass with a total cost of more than $175 million. The second tunnel is planned to be wider than the existing one.