Banking / Investment in Uzbekistan
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UZBEKISTAN, 2015/11/22
Uzbek leader Islam Karimov signed a resolution “On measures to implement the agreements reached during the International Investment Forum in Tashkent", which stipulates implementation of new projects with a total price of $16.9 billion in 2016-2017.
In general, implementation of 317 investment projects on modernization, technical and technological renewal of production is expected to be launched in the coming two years.
It is planned to implement 53 projects worth $10.37 billion in the energy sector of Uzbekistan. These include the construction of the fourth line of the Uzbek section of the Central Asia-China gas pipeline, a new thermal power plant with a total capacity of 900 MW in the Namangan region, construction of the complex for the production of olefins in the Bukhara region of Uzbekistan.
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UZBEKISTAN, 2015/11/06
Uzbekistan plans to attract foreign investors to its leading enterprises included in the national program on privatization, and to modernize the production in order to ensure the competitiveness of its production on the domestic and foreign markets.
For these purposes, it is planned to carry out the International Investment Forum, which will be held in Tashkent on November 5-6, 2015.
The forum will allow foreign investors to establish mutually beneficial business contacts, to open up new increase opportunities on the promising and fast-growing market of Uzbekistan.
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EUROPEAN UNION, 2015/08/27
The agriculture of Uzbekistan will any minute at this time be fully equipped with the European know-how and technologies in the field of animal husbandry, horticulture and vegetable growing.
This equipment will significantly facilitate the process of organization of production before its further sale. The country will get all necessary equipment under the European Union (EU) grant assistance in the all of 9.3 million euros, according to the EU.
As a lot of as six Uzbekistan's regions will get help in the field of agriculture, inclunding the Namangan, Andijan, Ferghana, Jizzakh, Syrdarya and Kashkadarya regions. The 36-month project will be implemented by consortium headed by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH (Germany).
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UZBEKISTAN, 2015/08/19
The Central Bank of Uzbekistan has approved the amendments to the regulations on corporate management in commercial banks.
The norm providing a requirement for each bank on the development and introduction of the internal document on effective corporate management has been included in the regulations, according to documents released by local media.
The document as well provides for the possibility of creating a committee of minority shareholders in the bank to protect their rights and interests, protect the interests of the bank from the improper or illegal actions of shareholders, bank officials and other persons, the establishment of remuneration, rewards and incentives to employees (inclunding the Board and the Management Board) taking into account the results of the bank's activity, compliance with safety and security requirements in lending to employees and officers of the bank, inclunding the giving employees an opportunity to statement illegal, unethical or questionable actions of management, ensuring their protection from the negative reaction from the above mentioned persons.
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KAZAKHSTAN, 2015/05/26
The issues of domestic bond market development in Russia, Kazakhstan, Belarus and other CIS nations inclunding EM Eurobonds were mulled at the 12th CIS and Baltic Bond Congress in Baku.
Each year the Congress gives its delegates an opportunity to assess the current national and development prospects of the CIS financial markets.
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UZBEKISTAN, 2015/05/16
Uzbekistan's national oil and gas company, Uzbekneftegaz plans to invest an estimated $18.65 billion in the development of the country's oil and gas industry.
"The investment will be placed under the national program on modernization, technical and technological renovation of the oil and gas industry," Shokir Faizullaev, chairman of Uzbekneftegas, said at the 19th Uzbekistan Oil and Gas three-day international conference, which started in Tashkent on May 12.
President Islam Karimov approved the national program covering the period until 2020, he noted.
The program envisages the realization of 54 investment projects in the oil and gas industry in the next five years. In particular, 39 projects will be implemented through a funding scheme worth $7.1 billion.
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UZBEKISTAN, 2015/05/09
Uzbekistan plans to sell the national share and the share of the economic board in 68 large enterprises of the country to the strategic foreign investors. This is envisaged by the President of Uzbekistan Islam Karimov’s decree "On measures of increasing the share and the price of private property in the economy", published in the local media.
The country’s ministries and departments have critically analyzed the availability of the national shares and assets in the statutory funds of the enterprises. The proposals for the cardinal reduction of the national's share in the sectors and areas of the real economy have been worked out, the document says.
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UZBEKISTAN, 2014/11/05
The World Bank and Uzbekistan have signed two loan agreements worth $414 million.
The agreements were signed by World Bank's Regional Director for Central Asia Saroj Kumar Jha and Uzbek Initial Deputy Prime Minister and Finance Minister Rustam Azimov in Urgench, the administrative center of Uzbekistan's Khorezm region during an international conference called "Development of cooperation in the Aral Sea Basin to mitigate environmental catastrophe consequences."
The World Bank has allocated $264 million for the water management development project in South Karakalpakstan worth $337.4 million. Around $242.5 million was allocated from the International Development Association, part of the World Bank in the form of an interest-free loan for 25 years with a grace period of five years.
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UZBEKISTAN, 2012/08/10
