SRPCU and ASHBURN International sign agreement on long-term strategic cooperation; Tashkent city and Barwa Group discuss bilateral cooperation; Uzbekistan and Qatar discuss perspectives of trade-economic cooperation; Uzbekistan’s foreign trade turnover reaches $23.0 billion in January-September; Number of operating enterprises with participation of foreign capital exceeds 6,960 units; Over 257,000 small enterprises and micro firms work in Uzbekistan;
SRPCU and ASHBURN International sign agreement on long-term strategic cooperation
ASHBURN International, which specializes in solutions for management and monitoring of networks of POS-terminals, has signed a long-term strategic partnership agreement with the Single Republican Processing Center of Uzbekistan (SRPCU).
Within the framework of the signed agreement, which will be valid for at least 10 years, ASHBURN International will provide software, developed by TransLink.iQ, adapted for the Uzbek market.
An agreement was also reached on supply of new payment terminals and the sale of more than 250,000 licenses for POC terminals administered by SRPCU, which belong to 28 banks in Uzbekistan. The single processing center predicts that within a few years more than 50,000 POS terminals will be connected to the TransLink.iQ platform.
Tashkent city and Barwa Group discuss bilateral cooperation
Leadership of Tashkent city administration held a meeting with representatives of Barwa Group, which is engaged in various fields of entrepreneurship: energy business, stock market, real estate, tourism, food industry and logistics.
At the meeting, the sides exchanged proposals on improving business climate of Tashkent city. Guests noted that Tashkent is developing at a very fast pace, and in this regard, public catering, tourism and entertainment spheres are becoming very important.
Representatives of Tashkent city khokimiyat presented economic potential of Tashkent city in the context of such large projects as Tashkent City and Olmazor City. Following the meeting, an agreement was reached on further negotiations.
Uzbekistan and Qatar discuss perspectives of trade-economic cooperation
Deputy Minister for Foreign Trade Sahib Saifnazarov held negotiations with business representatives of Qatar led by the Chairman and Managing Director of Barwa Bank Sheikh Mohammad Bin Hamad Bin Jassim Al Thani. The sides considered perspectives of trade-economic cooperation, in particular, in the spheres of logistics, transport, textile industry, production and export of fruits and vegetables, the Ministry of Foreign Trade said in a statement.
Qatar’s delegation was presented detailed information on ongoing large-scale socio-economic reforms in Uzbekistan and favorable conditions created for business. Importance of expanding trade-economic cooperation and achieving sustainable growth in trade turnover was emphasized.
Representatives of the delegation noted that development of trade-economic and investment sectors of the country contributes to improvement of bilateral cooperation. Interest in increasing cooperation with Uzbekistan was expressed.
Uzbekistan’s foreign trade turnover reaches $23.0 billion in January-September
Uzbekistan’s foreign trade turnover made up US$23.0 billion in January-September 2018 and increased, compared to the same period last year, by 17.2%. Exports reached US$9.4 billion (down 0.4%), import volume – US$13.7 billion (growth rate 33.3%). Foreign trade balance with a minus of US$4.3 billion.
The share of the CIS countries in foreign trade turnover was 38.6% in January-September 2018 and compared to the same period, the growth rate of foreign trade turnover was 34.4%. The share of other countries in foreign trade turnover in January-September 2017 was 66.3%. In the current year, foreign trade turnover with them decreased by 4.9% and amounted to 61.4%.
Exports made up US$9.3 billion in January-September 2018 (down 0.4%). The share of goods in the composition of exports reached 75.9%, of which energy carriers and petroleum products – 20.2%, food products – 8.8%, chemical products and products from it – 7.3%.
Number of operating enterprises with participation of foreign capital exceeds 6,960 units
As of 1 October 2018, the number of operating enterprises with foreign capital in Uzbekistan reached 6,960 units, the State Statistics Committee of Uzbekistan said. Compared with the previous year, the growth in the number of operating enterprises reached 29.6%, or 1,590 units. Of these, joint ventures account for 3,764 units and foreign – 3196 units.
The main part of enterprises with foreign capital participation made up 4,394 units in the city of Tashkent (63.1%), Tashkent region – 782 units (11.2%) and Samarkand region – 376 units. (5.4%). The smallest part falls to Khorezm – 66 units. (0.9%), Kashkadarya – 72 units. (1.0%), Navoi – 90 units. (1.3%) regions and the Republic of Karakalpakstan – 109 units. (1.6%). This indicates the need to strengthen joint work with foreign partners, to develop and attract foreign investment in these regions.
Number of existing enterprises with the participation of foreign capital by economic activity as of 1 October 2018: industry – 2818 units (40.5%), trade – 1484 units (21.3%) and other species – 1180 units (17.0%), the smallest – for health care and the provision of social services – 90 units (1.3%), information and communication – 181 units (2.6%), transportation and storage – 207 units (3.0%), agriculture, forestry and fisheries – 286 units (4.1%), accommodation and food services – 289 units (4.2%) and construction – 425 units. (6.1%).
Over 257,000 small enterprises and micro firms work in Uzbekistan
As of 1 October 2018, the number of operating small enterprises and microfirms in Uzbekistan reached 257,100 units. This figure is more than the same period last year by 11.8%.
The main part of operating small enterprises and microfirms falls on the city of Tashkent – 58,100 units (22.6%), Tashkent region – 24,800 units (9.7%), Ferghana region – 22,600 units (8.8%) and Andijan region – 22,300 units. (8.7%).
Of the total number of operating small enterprises and microfirms by type of economic activity, trade accounted for 68,900 units (26.9%), industry – 54,500 units (21.1%), construction – 28,000 units (10.9%), agriculture, forestry and fisheries – 23,400 units (9.1%), accommodation and food services – 19,100 units (7.4%), transportation and storage services – 12,800 units (5.0%), information and communication – 6,600 units (2.6%), health care and the provision of social services – 5,200 units (2.0%), as well as for other types – 38,700 units (15.0%). From this it is clear that the bulk of existing small enterprises and microfirms are in industry and trade. The smallest share of economic activities falls on health care, the provision of social services, as well as information and communication.