Economy
Uzbekistan to get a new tourism brand
A new tourism brand will be developed for Uzbekistan. The contest should be completed by October. The current brand has been used since 2013.
Uzbekistan to start producing heat from medical waste
A new joint venture with the American company Sayar has been established to produce alternative heating from medical waste in Uzbekistan. State medical institutions and other organizations will pay for heating at special tariffs.
ACWA Power sells 35% stake in two wind power plants in Uzbekistan
Saudi ACWA Power sold a 35% stake in two wind power plants in Bukhara region of Uzbekistan to China Southern Power Grid International.
BYD Uzbekistan Factory may produce Seagull and E2 EV models
BYD Uzbekistan Factory is testing budget models Seagull и E2 ahead of possible production in the country. The plant currently produces Chazor and Song Plus models.
Uzbekistan’s housing market is cooling down
Housing sales in Uzbekistan were down by 5.7% in the first six months of 2024. The growth of prices of existing homes slowed down, while rent prices in Tashkent continued dropping.
BYD may produce budget models of electric cars in Uzbekistan
Uzbekistan has reached an agreement with BYD to produce cars in the B, C and budget segments. The Chinese partners provided the first samples for testing, it was said at a presentation demonstrated to president Shavkat Mirziyoyev.
Passenger traffic at Uzbekistan’s airports grows by 36% in first half of 2024
Uzbekistan’s airports served 533 thousand flights in the first half of the year, which is 37% more than in January-June last year, serving more that 6.37 million passengers, 36% increase
“Uzbekistan shouldn’t be stuck in the transition to a market economy” — Marco Mantovanelli, World Bank Country manager
Marco Mantovanelli, who has completed his mission as the World Bank Country manager for Uzbekistan, spoke to Gazeta.uz on the changes he witnessed over the years, challenges and opportunities of the country’s market economy transition, and how the World Bank supports the government in this process.
Uzbekistan significantly reduces gold sales in April and May
Uzbekistan significantly reduced its gold exports in April and May, according to data from the World Gold Council. The country exported 23 tons of gold in February and March, but this figure plummeted to just 1 ton in the following months.
“Uzbekistan loves Telegram.” Pavel Durov promises to visit Tashkent again
Pavel Durov, the founder and CEO of Telegram, shared the outcomes of his trip to Uzbekistan. He expressed pride in the platform’s popularity in the country, noting over 70% of the population and nearly all businesses using it.
BYD eager to participate in project to develop green transport in Uzbekistan
Shavkat Mirziyoyev and BYD president Wang Chuanfu discussed plans for BYD’s involvement in the project to develop green transport in Uzbekistan. This includes establishing a research center, developing technical regulations and standards, and producing BYS’s Blade batteries and electric buses.
Agreement signed on procedure for activating contract to build small nuclear power plant in Uzbekistan
The first meeting for the construction of small modular reactors (SMRs) took place at the site. During the visit by the first deputy head of Rosatom, a protocol was signed for the contract’s entry into force. Infrastructure work will begin in the fall.
BYD factory in Jizzakh region produces its first cars (photos)
The country’s president visited BYD Uzbekistan Factory in the Jizzakh region and signed the first cars off the assembly line. The plant now produces two car models, with an annual capacity of 50,000 units initially, expected to reach 500,000 units by the third stage.
Uzbekistan to start exporting poultry meat
Authorities of Uzbekistan plan to allow export of poultry meat and give incentives to businesses in this sector. Besides, genetic technologies are expected to be introduced in poultry breeding together with a US company.
Uzbekistan and Mongolia intend to increase mutual trade volume 5−10 times in coming years
Presidents of Uzbekistan and Mongolia agreed to draft agreements on preferential trade and mutual market access simplification. They also plan to adopt agreements on investment protection and taxation principles. Mongolia is ready to supply Uzbekistan with meat and establish livestock clusters here.
Urgench international airport to be closed from 20 July to 7 August
Urgench airport will be closed from 20 July to 7 August for capital repairs of the runway. Flights will be redirected to Nukus and passengers will be provided with transfer.
Uzbekistan becomes first country to receive World Bank carbon funds after reducing emissions
Uzbekistan reduced carbon emissions by 500,000 tons. As part of an earlier agreement, the World Bank awarded the country a $7.5 million grant. A part of these funds will be used to provide financial assistance to families most affected by the rise in electricity and gas tariffs.
Labor migration from Uzbekistan to Russia likely to keep falling
Development of the construction industry in Uzbekistan, where wages can compete with those in Russia, may further decrease the flow of labor migrants to this country, according to a representative from the Agency for External Labor Migration.
US expresses full support for Uzbekistan’s intention to join WTO, says US trade representative Katherine Tai
US trade representative Katherine Tai had meetings with President Shavkat Mirziyoyev and several ministers in Tashkent. The ambassador reaffirmed the intention of the US to support Uzbekistan’s accession to the WTO, and to resume granting trade preferences under the GSP system.
First reactor of small nuclear station in Uzbekistan to be launched in five years
The first reactor of the small nuclear power plant to be built in Uzbekistan is expected to be launched in five years, the Nuclear Energy Agency said. Asked about the cost of the project. the agency said it was confidential.
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