Chinese investors to build Technopark Holly Tashkent; BP to start Castrol oil production; President of Kazakhstan signs double taxation treaty with Uzbekistan; Islamic Development Bank to allocate $ 1.3 billion; Switzerland remains the main export market of Uzbekistan; Uzbekistan plans to sell state stake in Coca-Cola Bottlers Uzbekistan;
Chinese investors to build Technopark Holly Tashkent
In the capital khokimiyat, the meeting between Jahongir Artykhodzhaev, the incumbent of the city khokhim, and the representatives of the production company Holey Group, led by the company president Chen Wadeong, was held.
The meeting was devoted to the discussion of the project of the industrial Technopark Holly Tashkent. Direct investments will amount to $ 200 million.
In the new industrial zone, the company plans to attract large Chinese companies in the textile industry, pharmaceuticals and microelectronics, creating 10,000 new jobs.
BP plans to start Castrol oil production in Uzbekistan
BP is ready to increase its presence in Uzbekistan, said Michael Denison, a political adviser of the company.
According to him, the company has concentrated its activity on promising deposits in the North Ustyurt of Karakalpakstan and the Fergana region, where the company plans to use previously unused hydrocarbon recovery technologies.
The company is also planning to participate in the development of alternative energy sources and increase energy efficiency through the introduction of its own technologies.
President of Kazakhstan signs double taxation treaty with Uzbekistan
President of Kazakhstan Nursultan Nazarbayev signed the law “On Ratification of the Protocol between the Government of the Republic of Kazakhstan and the Government of the Republic of Uzbekistan on Amendments and Additions to the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Uzbekistan on Avoiding Double Taxation of Incomes and Property of June 12, 1996”, reports Zakon.kz with reference to the presidential press service.
The protocol, signed in Astana on March 23, 2017, is aimed at developing cooperation between the tax services of both countries by exchanging information and revising certain provisions of the Agreement for the taxation of certain types of income.
The protocol guarantees the relative stability of tax relations, prevents double taxation of income and, thereby, allows for closer economic ties between the two states.
Islamic Development Bank to allocate $ 1.3 billion to Uzbekistan
12 documents were signed during the conference “IDB Group Day” with the participation of the President of the Islamic Development Bank Bandar Hajar and Sukhrob Holmuradov, Deputy Prime Minister, Chairman of the State Committee for Investments, the press service of the ministry reports.
Between the government and the Islamic Development Bank, the Partnership Strategy for 2018-2021 was signed, under which the IDB will allocate $ 1.3 billion. A grant agreement was signed for the International Research Center Imam al-Bukhari. The amount of the agreement is $ 275 thousand.
The bank also named the construction of housing in rural areas a priority area of cooperation.
Switzerland remains the main export market of Uzbekistan
Switzerland remains the main export market of Uzbekistan, according to the Central Bank’s report. In the first half of the year, it accounted for 31% of the country’s total exports. For comparison, China accounted for 18%, Russia – 16%.
In monetary terms, the country’s export to Switzerland amounted to $ 1.5 billion. For comparison, this is larger than exports to all Asian countries ($ 1.3 billion) and slightly less than the total exports to all CIS countries ($ 1.6 billion). The main export item of Uzbekistan, both to Switzerland and in general, is precious metals, in particular gold. They accounted for 30% of the total export volume.
Uzbekistan plans to sell state stake in Coca-Cola Bottlers Uzbekistan
On 18-19 September 2018, the Ministry of Finance of Uzbekistan hosted meetings with representatives of the European Bank for Reconstruction and Development (EBRD), The Coca-Cola Company (USA) and Coca-Cola İçecek (Turkey), to discuss cooperation opportunities and initiate preliminary discussions regarding attracting a strategic investor for Coca-Cola Bottlers Uzbekistan Ltd. (CCBU).
57.1% of CCBU is owned by the Uzbekistan state Holding Company Ozbekoziqovqatxolding and 42.9% by The Coca-Cola Export Corporation.
CCBU operates in Uzbekistan since 1993 and has three factories in the cities of Tashkent, Namangan and Urgench. The factories have 10 functioning production lines producing 9 varieties of beverages under the brands Coca-Cola, Fanta, Sprite, Bonaqua and Fuse Tea. CCBU is the only food industry enterprise in Uzbekistan which has 4 international ISO quality certificates.