Coal and oil production continues to decline; Companies of Khorezm region and Karakalpakstan receive customs privileges; The EBRD provides Uzbekistan with loans of 333 million euros. The money will be spent on the restoration and development of infrastructure; Putin and Mirziyoyev to sign the Economic Cooperation Program for 5 years; Business circles of Uzbekistan and Malaysia strengthen ties;
Coal and oil production continues to decline
In January-September, oil production fell by 9.6% compared to the same period of last year, according to the data from the State Statistics Committee.
Coal mining volume has also decreased by 4.2%. Despite the decline in oil production, production of motor gasoline and diesel fuel continues to increase – so far by 6.9% and 9.3%, respectively.
In total, during the first nine months, the country produced 2.9 million tons of coal and 561.5 thousand tons of oil, whereas the same figures were 3 million and 620.9 thousand last year. Meanwhile, energy and oil products for the same period were exported for $ 1.8 billion, which is 61.7% more compared to last year. In general, energy and petroleum products accounted for 20% of total exports.
Companies of Khorezm region and Karakalpakstan receive customs privileges
Entrepreneurs, regardless of the form of organization, were exempted from customs duties when importing ostriches until January 1, 2020. This is stipulated by a presidential decree. The same applies to the importation of ethylene polymers in primary forms.
In addition, newly created microfirms and small enterprises in the field of industry located in the Muynak, Shumanay, Kanlykul, Takhtakupyrsky, Chimbay districts of Karakalpakstan, Yangiarik and Koshkupyrsky districts of the Khorezm region are exempt from the single tax payment until January 1, 2027.
Companies in the remaining areas of these two regions received the same benefits before January 1, 2022. Entrepreneurs in Muynak, Shumanay, Kanlykul, Takhtakupyr, Chimbay districts and Kegeyli districts of Karakalpakstan are exempted from January 1, 2020 from customs duties for special equipment, equipment, spare parts, components, construction materials, metal structures, that are not produced in these areas of in Uzbekistan.
The EBRD provides Uzbekistan with loans of 333 million euros. The money will be spent on the restoration and development of infrastructure
The European Bank for Reconstruction and Development provides Uzbekistan with long-term loans for the implementation of six infrastructure projects worth EUR 333 mln. This was stated in the press service of the organization.
The money will go to improving water supply and centralized heat supply in Tashkent, Khorezm and Namangan regions, as well as the transmission of electricity in the Navoi region.
“Almost 33 million people live in Uzbekistan, which makes it the most populous country in Central Asia. For decades, it suffered from insufficient investment in the utilities sector (centralized heat supply, water supply and wastewater),” the report says. The EBRD has chosen to address these urgent needs in the long term through infrastructure investments as a priority.
Putin and Mirziyoyev to sign the Economic Cooperation Program for 5 years
The heads of Uzbekistan and the Russian Federation, Shavkat Mirziyoyev and Vladimir Putin, will sign a program of economic cooperation for 2019-2024 and a number of documents during the visit of the Russian leader to the Republic of Uzbekistan, the press service of the Uzbek president said.
Following the summit talks, the next documents are expected to be signed – the Joint Statement of the Heads of State, the Economic Cooperation Program for 2019-2024, the Program of Cooperation in the Cultural and Humanitarian Sphere for 2019-2021, agreements on the establishment and operation of branches of the leading universities of Russia in Uzbekistan, “road maps “on the creation of the International Radio Astronomy Observatory” Suffa “and other important bilateral documents.
During the visit, the conclusion of large investment contracts and trade contracts between regions and business circles of Uzbekistan and Russia is also expected.
Business circles of Uzbekistan and Malaysia strengthen ties
The Embassy of the Republic of Uzbekistan in Kuala Lumpur, together with the Association of Business Women of Uzbekistan (AJU), organized a visit of women entrepreneurs of Uzbekistan (11 people in total) to Malaysia from 5 to 12 October.
Within its framework, the delegation took part in the Beauty Expo international exhibition. The delegation held meetings with the leadership of the National Association of Women Entrepreneurs of Malaysia (NAWEM), the Malaysian Foreign Trade Development Corporation (MATRADE), the Asian Strategy and Leadership Institute (ASLI) negotiations with Brand 360. The Uzbek delegation paid visit to the production facilities of Unilavender (production of disposable hygiene products and medical supplies) and MAMEE-Double Decker (production of biscuits, noodles fast food, chips, etc.).
During participation in the exhibition, the sides reached agreement on organization of the visit of the leadership of the South Korean company “Health Today Co.” Ltd.” to Uzbekistan to study the possibility of creating a joint venture for production of perfumery products and acquisition of the equipment of Beaubelle Group in the provision of cosmetic services and cosmetic products of “Natural Wellness Pharmaceuticals”, “BORAM C & H Co. Ltd. ”and“ Monarch Aesthetic ”.