EBRD to assist in preparing Asakabank for privatization
Uzbekistan and the EBRD will work on institutional transformation and corporate governance reform at Asakabank in preparation for its privatization. The parties signed this agreement at the Tashkent Investment Forum.
Uzbekistan intends to cooperate on critical raw materials with US and UK
President of Uzbekistan highlighted the nation’s wealth of over 30 rare-earth metals to investors, noting ongoing negotiations for critical raw materials cooperation with the United States and the United Kingdom.
Project on rational management of hazardous chemicals launched in Uzbekistan
Ministry of Ecology, FAO, and EU have launched a project on rational management hazardous chemicals. In recent years, Uzbekistan has decommissioned eight pesticide burial sites, begun this process at two more, and reconstructed another storage facility.
Inflation increases in Uzbekistan following removal of VAT exemption on medicines and public services
Inflation in Uzbekistan increased to 0.93% in April, with annual inflation exceeding 8%. This increase was influenced by the removal of the zero VAT rate on medicines and utilities, including water supply, heating, and sewage. Prices also rose for sugar, milk, flour, meat, and other goods.
Uzbekistan to participate in PISA study once again with support from World Bank
Uzbekistan will partake in PISA for the second time, with World Bank’s support. Pilot testing for PISA-2025 is scheduled for May this year, and education specialists are currently familiarizing themselves with the methodology.
EBRD President Odile Renaud-Basso to visit Uzbekistan
President of the European Bank for Reconstruction and Development Odile Renaud-Basso is expected to visit Tashkent. During her visit, she will engage in discussions with the president, other officials, and participate in the Foreign Investors Council and the Tashkent International Investment Forum.
Uzbekistan raises poverty line again amid increase in energy tariffs
Minimum expenditure basket in Uzbekistan, also used to determine the poverty line, has risen by 4.3%, from 621,000 soums to 648,000 soums (from $49 to $51) per month. This adjustment, the second this year, reflects the upcoming increase in gas and electricity tariffs from 1 May.
84 countries to participate in Tashkent Investment Forum
III Tashkent International Investment Forum is scheduled for 2−3 May. Nearly 2,500 people from 84 countries are expected to participate: government officials, corporate leaders, representatives of the UN, EBRD, OPEC, and SCO. President of Uzbekistan reviewed the preparations.
EU grants €6 million for Uzbekistan’s agriculture development
European Union allocated a €6 million grant to Uzbekistan for adopting the National Food Security and Healthy Nutrition Strategy. In total, the EU will allocate €20 million to promote agricultural sector reforms this year and next.
Bookmaking to be legalized in Uzbekistan
President of Uzbekistan signed a decree legalizing bookmaking in the country starting from 1 January 2025. The existing ban, in place since 2007, has been “practically ineffective”, with people actively using foreign and illegal services, according to the official comment.
U.S. removes Uzbekistan from Intellectual Property Watch List
Uzbekistan was removed from the Intellectual Property Watch List “due to sustained progress” by the Office of the U.S. Trade Representative. Uzbekistan had been on the list for 24 years, since 2000.
Remittances to Uzbekistan increase, Russia’s share decreases, says Central Bank
In the first quarter of 2024, the volume of remittances to Uzbekistan increased, as reported by Central Bank chairperson Mamarizo Nurmuratov during a press conference on April 25.
What are key outcomes from David Cameron’s visit to Uzbekistan?
Uzbekistan and the UK signed two documents and agreed on establishing a Joint Economic Commission, implementing high-speed rail projects and other issues during David Cameron’s visit to Tashkent. He also announced a number of new projects to support education, SMEs and combat climate change.
Central Bank of Uzbekistan keeps interest rate at 14% per annum, but revises inflation forecast
Central Bank of Uzbekistan kept its interest rate at 14% per annum. The regulator raised its inflation forecast to 9−11%, citing energy tariff hikes. But it asserts that the effects of these price changes in the economy are temporary. CBU also downgraded its economic growth forecast.
“Story of immunization in Uzbekistan is story of human triumph,” says UNICEF
National immunization program impacts 3.5 million children, with 950,000 receiving three doses of the diphtheria, tetanus, and pertussis vaccine annually. As World Immunization Week unfolds, UNICEF reminded the critical role of vaccination in safeguarding children’s health and survival.
Over 500 public buildings in Uzbekistan to become energy efficient under project by Ministry of Energy and WB
Ministry of Energy and WB aim to jointly improve energy efficiency of Uzbekistan’s public buildings in a project. Over five years, hospitals, schools and kindergartens will improve thermal insulation, ventilation, air conditioning, and replace coal-fired boilers with solar collector heating systems.
Uzbekistan exported gold worth $1.35 billion in March
Uzbekistan’s gold exports amounted to $1.35 billion in March, with a cumulative export value of $2.66 billion since the beginning of the year, accounting for 41.7% of the country’s total export revenue.
“We are not asking to choose between partners,” David Cameron speaks on Britain’s relations with Central Asia
Britain is not asking Uzbekistan and the rest of Central Asia to choose among regional collaboration partners, British Foreign Secretary David Cameron stated. “We want to be here to build partnerships,” he noted.
Foreign ministers of Uzbekistan and UK sign two documents on cooperation
Foreign ministers of Uzbekistan and the UK signed a Declaration on Comprehensive Cooperation and a Memorandum of Understanding focusing on regional and international connectivity, as well as infrastructure, during David Cameron’s visit to Tashkent.
Uzbekistan’s permanent population reaches 37 million
Permanent population of Uzbekistan surpassed 37 million on April 22. Since the beginning of the year, the figure has grown by over 200,000 people, with an increase of more than 36,700 just in the ongoing month of April.
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