President of Uzbekistan congratulates Erdogan on decisive victory in election
President of Uzbekistan Shavkat Mirziyoyev congratulated Turkish President Recep Tayyip Erdogan on his victory in Sunday’s presidential election. The two leaders also discussed ways to enhance Uzbek-Turkish relations and expand multifaceted cooperation.
Uzbekistan to unveil new energy development programme by September 2023
Uzbekistan will unveil a new energy development programme by September 2023 that will liberalise gas and electricity prices and implement social consumption norms, First Deputy Energy Minister Azim Akhmedkhadzhayev said.
Uzbekistan resumes gas exports to China
Uzbekistan resumed exporting natural gas to China after a three-month break. The volume of gas supplies in April amounted to $40.5 million.
President of Uzbekistan calls for closer coordination with EAEU countries
Global challenges and problems call for closer coordination within the EAEU to address the priorities of sustainable socio-economic development of the Union’s countries, the President of Uzbekistan said at the EAEU summit.
Singapore’s STIE to help develop Tashkent metro
Singapore-based STIE will advise on the design, construction of new lines and stations and modernisation of infrastructure in the Tashkent metro. Wilmar International may open a distribution hub in Uzbekistan, PSB Academy a training facility and Enercon Asia to install solar panels.
Uzbekistan sees 9.5% drop in gas production in first four months of 2023
Uzbekistan produced 16.26 billion cubic meters of gas in January-April 2023, which is a 9.5% decrease from the same period last year. Electricity and heat production also declined, while oil and coal production increased slightly.
TBC Bank Group acquires remaining 49% in Payme for $55.7 million
TBC Bank Group, a Georgian banking group, bought the remaining 49% stake in Payme, a payment service provider in Uzbekistan, for $55.7 million, valuing Payme at $113.6 million.
US-based Air Products to invest $1 billion in gas processing complex in Kashkadarya region
Air Products, a US-based industrial gas producer, signed a $1 billion investment agreement with Uzbekistan to purchase and operate a natural gas processing plant in Kashkadarya region. The plant is part of Uzbekistan GTL.
UAE’s Masdar wins tender for Kashkadarya PV power plant
Masdar, an Emirati company, was declared the preliminary winner of the bid for the construction and operation of a 300 MW solar photovoltaic plant in Guzar district of Kashkadarya region.
Changi Airports to help develop a feasibility study for Tashkent’s new airport
Singapore’s Changi Airports International will help develop a feasibility study for Tashkent’s new airport, as well as consulting to optimize the operation of the existing airport.
Uzbekistan and Singapore strengthen bilateral ties in historic visit
President of Singapore Halimah Yacob visited Uzbekistan, where she held talks with President Shavkat Mirziyoyev. The sides discussed bolstering trade, investment, cultural exchanges, and regional integration. Key agreements were signed, further cementing cooperation in various sectors.
President of Uzbekistan calls for new economic dialogue at CA-China summit
At the CA-China summit in Xi’an, the President of Uzbekistan proposed aligning the national development strategies of the six countries, creating a “new economic dialogue”, boosting interconnectivity and doubling trade with China by 2030.
Shavkat Mirziyoyev and Xi Jinping meet in Xi’an, sign 41 documents
President of Uzbekistan met with his Chinese counterpart in Xi’an to discuss bilateral cooperation. The two leaders adopted a program for the development of a comprehensive strategic partnership in the new era between the two countries for 2023−2027 and signed 41 documents, covering various areas.
EU and AFD to support Uzbekistan’s green transition by 2030
The EU, the AFD and the government of Uzbekistan signed an agreement to support and finance the country’s strategy for transition to a green economy by 2030.
EBRD to help Uzbekistan Airports upgrade its fleet of special equipment
The EBRD will provide Uzbekistan Airports with up to €28 million to upgrade its fleet of special equipment at Uzbekistan’s international airports. In addition, the bank will provide a €1 million grant to optimise the company’s key business processes and its structural divisions.
EBRD to finance construction of wind farm in Karakalpakstan
The European Bank for Reconstruction and Development provided a $19.3 million loan to ACWA Power Wind Karatau to build a 100 MW wind farm in Nukus, Karakalpakstan.
Samarkand to buy electric buses with EBRD support
Samarkand became the first city in Uzbekistan to join the EBRD’s Green Cities programme. The Bank is providing the city with a $49 million loan for the purchase and deployment of up to 100 electric buses.
Masterсard opens its representative office in Uzbekistan
Mastercard announced the official opening of its first representative office in Uzbekistan. The company also signed a MoU with the EBRD to increase digital opportunities for small business owners, especially women.
Sergei Guriev: Europe’s crackdown on sanctions evasion pose a major risk to region’s economic growth
Sergei Guriyev warned that Central Asian countries could face a major threat to their economic growth as Europe tightens sanctions on Russia and shuts the loopholes that allow it to evade them. He also said that GDP growth based on military production does not improve living standards.
'Investors want predictability and stability' — EBRD chief economist
European Bank for Reconstruction and Development Chief Economist Beata Javorcik and Regional Economist Eric Livny told Gazeta.uz about the new threats to the economy, the successful strategies for attracting investment and the significance of public support for reform.
Sign up for additional features