Uzbekistan - The Times Of Central Asia

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Uzbekistan Ratifies Agreement on Transfer of Prisoners with Iran

The forty-ninth plenary session of the Senate of Oliy Majlis of the Republic of Uzbekistan took place in Tashkent on January 20th. Tanzila Norboeva, the head of the Senate presided over the plenary meeting, which was conducted via video conference, wherein discussions were held regarding a bill entitled, On the ratification of the Agreement on the transfer of prisoners between the Republic of Uzbekistan and the Islamic Republic of Iran (Tehran, June 18, 2023). The agreement’s ratification gives Iranian and Uzbek citizens who have been detained in each other's territories a legal foundation on which to serve out their sentences in their home nation, thus allowing for regular visits with close relatives and easing the transition to civilian life. The agreement also opens up the possibility of bilateral cooperation in the area of the transfer of convicts.

Uzbekistan Business & Economy Uzbekistan Business & Economy

Uzbekistan Aims to Attract More Foreign Investment, Increase Exports

On January 18th, President Shavkat Mirziyoyev chaired a government meeting on priority tasks in the field of investment, export and industry for 2024, his press service has reported. It was stated at the meeting that the Uzbekistan 2030 strategy has set a goal of bringing the country's GDP to $160 billion and per capita income to $4,000 a year, which cannot be achieved solely through the domestic market; meaning there is a need to attract more foreign investment and increase exports. Over the past six years, the country has received almost $50 billion in foreign investment, with the economy growing by 6% last year. However, exports did not increase. It was stated that although Uzbekistan has enjoyed the EU’s GSP+ trade preference system and has the opportunity to export 6,200 types of goods to Europe duty-free, only 384 types of goods were exported under this system last year. To take the economy to a new level would require exports to be increased by at least 30% annually. A total of $200 million has been allocated for export lending, but that has not always translated into the production of value-added products and exports. From now on, subsidies and loans will be provided primarily to exporters entering new markets with products with high added value. Another issue discussed at the meeting was industrial production. Over the past six years, the volume of investments attracted to industry has increased seven-fold, with equipment worth $14 billion being imported over the past three years. Uzbekistan has created 24 special economic zones (SEZs), where land is allocated in a simplified manner and tax benefits are provided by the state. However, these opportunities are not being fully utilized. For instance, 800 hectares of land with ready-made infrastructure is still empty in the SEZs. Therefore, it was decided that 240 hectares of land in SEZs in the Bukhara, Navoi, and Tashkent regions will be outsourced to foreign companies.

Environment Uzbekistan Environment Uzbekistan Uzbekistan Features

Mirziyoyev: Officials Must Reorient to Preserve Environment

President of Uzbekistan, Shavkat Mirziyoyev, has criticized officials who insist on building new cement plants instead of introducing environmental technologies. "The country has production capacities which can more than cover the annual demand for cement," Mirziyoyev said. "So, it is surprising that officials, instead of increasing the production of value-added products and introducing technologies that reduce their harmful impact on the environment, are proposing that 22 more cement plants be constructed." Mirziyoyev emphasized the importance of responsible decision making in the sphere of industry. He noted that over the past six years, the volume of investment in industry has increased sevenfold, but insufficient information has been provided by the heads of industries and regions on jobs created and the growth of exports, meaning officials do not sufficiently analyze and provide data on the economic and social consequences of investments in the construction of new cement plants. The President also expressed concern about the environmental aspect of the issue. Instead of the mass construction of new plants, which are likely to exacerbate the negative impact on the environment, he called for a greater emphasis to be placed on the introduction of environmentally friendly technologies in cement production. Such measures would reduce air and water pollution, as well as greenhouse gas emissions. Mirziyoyev emphasized the need to effectively use existing plants by increasing their productivity and introducing innovative solutions, noting that the introduction of environmentally friendly technologies would increase the quality and competitiveness of Uzbek cement in the world market. In summation, Mirziyoyev instructed officials to reorient their goals to ensure sustainable development and preserve the environment.

Uzbekistan Uzbekistan International Affairs

Mirziyoyev to Visit China – Strengthen Strategic Partnership

At the invitation of the Chinese President, Xi Jinping, President Shavkat Mirziyoyev will make a state visit to China from January 23rd to 25th, the press service of the President of Uzbekistan has reported. Within the framework of his stay in Beijing, a series of high-level talks and bilateral meetings are planned. The main objective of the visit will be to discuss and settle key aspects in further strengthening Uzbek-Chinese relations, with the aim of establishing a comprehensive strategic partnership and expanding practical cooperation in various fields. The partnership between Uzbekistan and China is of great strategic importance, the press service stated. In addition, Mirziyoyev also plans to visit regions of China, where he will hold meetings with the heads of leading Chinese companies and representatives from banking and financial institutions.

Uzbekistan Uzbekistan Life & Culture

UAE Opens Borders to Tourists from Uzbekistan, Abolishes Visa-Regime

Uzbekistan's ambassador to the Emirates, Abdulaziz Akkulov, and the UAE Deputy Foreign Minister, Khalid Abdullah Belhoul have signed a protocol exempting citizens of both countries from visas requirements. As of February 16th, citizens from Uzbekistan will be able to enter the United Arab Emirates without the need to obtain a visa for up to 30 days, according to information reported on Podrobno.uz. The agreement follows an increase in the number of tourists from Uzbekistan visiting the UAE -119,500 in 2023. A considerable amount of money - $9.2 million was spent obtaining visas to the emirate. In this context, the agreement on increasing visa-free travel can be seen as an impetus for further development of tourism potential between the two countries. Citizens from Uzbekistan can now visit 29 countries without the need of a visa - significant progress for the power of the Uzbek passport. Thanks to this latest addition, Uzbekistan now holds 71st position in the Global Passport Power rankings.

Uzbekistan Uzbekistan Features Uzbekistan Business & Economy Business & Economy

President of Uzbekistan Sets Economic Tasks for 2024

On January 16th, President Shavkat Mirziyoyev chaired a government meeting on priority tasks for the country’s economic development in 2024. It was stated that in 2023, economic growth was at 6%, and this year the plan is to maintain growth at the same level and bring gross domestic product to $100 billion. The head of state stated that with an increase in industrial production, the added value of products did not exceed 40%, which is mainly due to dependence on imports, high energy consumption, and excessive production costs. The President ordered that 2024 be a year of efficiency and production cost reduction for leaders of the economic sector and all state-owned enterprises. This year, the task is to increase the added value of domestic products to 45%, reduce production costs by 15%, and ensure industrial growth of 7%. Another source of budget revenue is privatization. However, 484 state assets included in the privatization program have yet to be put up for auction. Therefore, the President ordered the Cabinet of Ministers to prepare a new privatization program which aims to earn $1.6 billion in revenue this year. The meeting emphasized that a pressing issue today is the shadow economy, especially in the services sector, construction, and industry. Mirziyoyev stated that the shadow economy is an obstacle to fair competition, and outlined new measures to combat it. In particular, the powers of the Department for Combating Economic Crimes under the Prosecutor General's Office will be expanded, and a separate department to tackle the shadow economy will be created within the General Prosecutor's Office. Another important issue discussed at the meeting was inflation, which was at 8.77% last year, its lowest level since 2016. This year the plan is to keep inflation below 9%. Issues of lending were also discussed, with the task being set to develop a program to lower bank interest rates on loans by at least 2-3%.