Economy
Russian AvtoVAZ considers assembling new Lada Vesta in Uzbekistan
AvtoVAZ President Maksim Sokolov announced that the company is exploring options to resume the assembly of its next-generation Lada Vesta cars and increase the localization of automobile manufacturing in Uzbekistan.
Uzbekistan in talks to restart Renault car assembly — Ambassador
The assembly of Renault’s cars in Uzbekistan has been put on hold due to delivery issues from Russia and other countries, said the Uzbek Ambassador to France, Sardor Rustambayev. He stated that efforts are currently underway to “restore the disrupted supply chains.”
ACWA to develop two wind farms in Bukhara with ADB support
The Asian Development Bank and Saudi Arabia’s ACWA Power have signed loans worth $174 million to develop the Bash and Dzhankeldy wind farms in Uzbekistan’s Bukhara region.
Aggregate income of Uzbekistan’s population rises by 10.8% in Q1 2023
Uzbekistan citizens' actual income jumped by 10.8% in Q1 2023, reaching 144 trillion soums, outperforming past years. Inflation-adjusted figures show growth led by employment and transfer incomes, despite industry downtime and declining remittances.
Uzbekistan’s energy imports surge amid declining domestic production
Uzbekistan imported $151.2 million worth of gas in March, more than half of its imports last year. The figure rose sharply against the backdrop of falling domestic gas production. Import of coal, oil and oil products also increased.
Uzbekistan’s GDP grows by 5.5% in Q1 2023
Uzbekistan’s GDP grew by 5.5% in the first quarter of 2023, surpassing forecasts, despite initial concerns due to industrial setbacks from January’s extreme cold weather. Industrial production and construction work demonstrated a significant rebound, contributing to the economic upturn.
Uzbekistan’s gas, electricity and coal production declines in Q1 2023
Uzbekistan experienced a 9.6% decline in gas production during Q1 2023, totaling 12.3 billion cubic meters, with electricity production also falling by 5%. The production of thermal energy and coal has fallen as well. This downturn is attributed to reduced tax rates and other industry challenges.
Silk Avia begins commercial flight operations in Uzbekistan
Uzbekistan’s first regional airline, Silk Avia, has begun commercial flight operations. The airline is offering low-cost flights from Tashkent to Termez, Navoi, Namangan, Karshi, and Urgench (via Bukhara and Samarkand).
Meeting climate goals with energy efficiency and renewable energy
Fossil fuels are a dead end for our planet, for humanity, and for economies. In her column for International Mother Earth Day, UNDP Resident Representative Matilda Dimovska writes about UNDP-supported green technology best practices in Uzbekistan.
World Bank to help Uzbekistan develop livestock sector
Uzbekistan’s livestock sector is a major economic driver, but it also contributes significantly to GHG emissions and has low productivity. A new World Bank project will help the country create a more productive and climate-resilient livestock sector.
Uzbekistan proposes to host Forum of Regional Heads of Central Asia and China
During the first Central Asia-China ministerial meeting, Uzbekistan proposed to host Forum of Heads of Regions of Central Asia and China in the second half of 2023 to strengthen partnerships, identify growth opportunities, and enhance inter-regional development.
Uzbekistan aims to boost potato farming and meet domestic demand by 2025
Uzbek President outlined number of measures to boost country’s potato farming sector, addressing constraints in seed access, sown land availability, and disease testing infrastructure. These efforts aim to achieve self-sufficiency in domestic potato production by 2025, reducing reliance on imports.
Water pumping stations in Uzbekistan to be transferred to businesses for management
Uzbek President convened a meeting to address critical challenges in water management. He criticized $500 million in yearly irrigation subsidies, ordered transfer of 300 pumps to businesses, and initiated mudflow accumulation. Plans for pipeline irrigation in Jizzakh region underway.
Uzbek government acts to prevent sugar shortages amid rising demand
The Uzbek government addresses rising sugar demand by boosting production, implementing measures to minimize risks, and ensuring adequate supply and affordability for the population. Sugar prices up 4.4% in March and 31.1% over the year.
Samarkand to receive 350 electric buses, boosting public transport
Samarkand is set to receive 350 electric buses, including 100 by the end of the year, as part of a $95 million project with the EBRD to significantly enhance the city’s public transportation infrastructure.
AnadoluJet launches new regular Ankara-Tashkent route
AnadoluJet, a Turkish Airlines subsidiary, commenced its new Ankara-Tashkent-Ankara service on April 18, with regular flights on Mondays, further bolstering the existing 60+ weekly flights between Uzbekistan and Turkey.
Uzbek President outlines proposals to boost food production industries
President Mirziyoyev unveils plans to support Uzbekistan’s food production industries, including establishing milk collection stations in regions, tagging and identifying livestock, allocating $35 million for poultry farms, and implementing shrimp farming projects, among others.
Uzbek and Russian officials discuss energy cooperation
Uzbek Energy Minister Jurabek Mirzamakhmudov and Russian Deputy Prime Minister Alexander Novak convened in Moscow to discuss collaboration in gas, oil, and electricity sectors, including renewable energy, hydropower, and nuclear power plant construction.
“Uzbekistan must by all means join the WTO” — Uzbek President
President Shavkat Mirziyoyev was briefed on Uzbekistan’s progress in its World Trade Organization (WTO) accession process and emphasized the economic significance of joining the WTO, aiming to double exports of finished products in the next three years.
Uzbekistan, Kazakhstan and Russia advance in discussions on gas union project — Sergey Lavrov
Russian Foreign Minister Sergey Lavrov announced significant progress in discussions between Russia, Uzbekistan, and Kazakhstan on a trilateral gas union project after a meeting of foreign ministers in Samarkand.
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