Uzbekistan - The Times Of Central Asia

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EBRD Invested More Than €1.2bn In Central Asian Economies In 2023

The European Bank for Reconstruction and Development (EBRD) says it invested more than €1.2bn ($1.3bn) in projects across Central Asia in 2023 to stimulate the region’s sustainable growth. Uzbekistan remained the leading recipient of EBRD funding in the region for the fourth year running, attracting more than €700m ($760m). The remaining €518m ($560m) were channeled to support projects in Kazakhstan, Kyrgyzstan, Mongolia, and Tajikistan. In Uzbekistan, the EBRD continued investing in renewable energy power generation and low-carbon technologies. It financed the construction of three greenfield solar power plants with a total installed capacity of nearly 900 MW. The bank provided funds to ACWA Power Wind Karatau to finance the construction of a 100 MW wind power plant in the autonomous republic of Karakalpakstan. It also provided a sovereign loan to modernise 118 pumping stations and improve the sustainability of water supply for irrigation in the densely populated Fergana Valley. Samarkand became the first city in the country to join the EBRD Green Cities programme, and is planning to deploy ecologically friendly electric buses as part of this engagement. In the financial sector, the bank continued working with local financial intermediaries such as SQB, Hamkorbank and Ipak Yuli Bank to support SMEs and promote green lending. Highlights of the EBRD’s work in Kazakhstan include the launch of the GEFF Kazakhstan II and an investment in a local currency bond issued by the country’s transmission system operator, KEGOC. The funds will help make the country’s electrical grid more sustainable and reliable. The bank’s loan to China Power International Holding and Visor International will be used to build, operate and connect the 100 MW Shokpar wind power plant to the transmission grid. The EBRD’s loan to Kazakhstan’s largest private rolling stock operator, Eastcomtrans, will help expand container-handling capacity at one of the most congested junctions near Almaty and address the issue of bottlenecks along the Trans-Caspian corridor. Last year marked the completion of the street lighting system in Ust-Kamenogorsk (Oskemen), which allowed energy-efficient LED street lights to be installed on 150 streets. In the financial sector, the bank extended a new loan to the country’s leading microlender KMF to support green lending and women’s entrepreneurship. In Kyrgyzstan, the EBRD supported the modernisation of water supply services in the Batken and Jalal-Abad oblasts. The bank signed a number of sovereign projects aimed at modernising key transport and energy infrastructure, which will help improve the country’s connectivity and climate resilience. These projects included loans to upgrade a 30km section of the Issyk-Kul Lake ring road, increase the reliability of the national electricity transmission and distribution grid, and rehabilitate and modernise the Lebedinovskaya hydropower plant. The EBRD also completed the Bishkek landfill project last year, which will provide major environmental benefits for the more than one million people living in the country’s capital. The completion of three infrastructure projects in Tajikistan allowed more than 400,000 people in 13 municipalities across the country to enjoy better access to clean and safe drinking water. Last year the EBRD launched the GEFF Tajikistan II and extended new GEFF loans to Bank...

Central Asia Uzbekistan Uzbekistan Business & Economy

Mirziyoyev Speaks At Uzbek-Chinese Investment Forum

On January 25th, as part of his state visit to China, Uzbekistan's president Shavkat Mirziyoyev addressed the Uzbek-Chinese Investment Forum in the city of Shenzhen. The forum brought together heads of government agencies and regions in the two countries, and more than 600 representatives of large Chinese companies. Mr Mirziyoyev outlined priorities and promising areas for Uzbek-Chinese cooperation. These included simplifying the procedure for attracting funds from Chinese financial institutions for infrastructure development projects, industrial cooperation in priority sectors of the economy, and processing of strategic raw materials. Mirziyoyev stressed the need to adopt Chinese technologies in sustainable agriculture, and to introduce scientific approaches to land rehabilitation.

Central Asia Uzbekistan Uzbekistan Business & Economy

Chinese Company Launches Assembly Of Electric Vehicles In Uzbekistan

On January 25th, as part of his state visit to China, Uzbekistan's president Shavkat Mirziyoyev visited the headquarters of the Chinese company BYD in Shenzhen. The company is a leading global producer of new energy vehicles and next-generation batteries. Mr Mirziyoyev and BYD's president Wang Chuanfu took part in the launch ceremony of a project for the assembly of hybrid and electric vehicles in Uzbekistan’s Jizzakh region, with a capacity of 50,000 vehicles per year. Mr Mirziyoyev expressed hopes to expand the model range in the future, and increase the production capacity to 300,000 vehicles per year, his press service reported. He also supported the Chinese company’s plans to establish the assembly of BYD electric buses in Uzbekistan with the localization of spare parts production and creation of engineering and service centers.

Environment Uzbekistan Environment Central Asia Kazakhstan Environment Uzbekistan Kyrgyzstan Environment Turkmenistan Kyrgyzstan Kazakhstan Turkmenistan Environment

Italy Proposes Project To Mitigate Climate Change Consequences In Aral Sea

On January 24th Italy’s deputy minister of foreign affairs and international cooperation, Edmondo Cirielli, and deputy minister for the environment and energy security, Vannia Gava, held a meeting with the ambassadors of Kazakhstan, Kyrgyzstan, Turkmenistan, and Uzbekistan in Italy. At the meeting, the top management of SOGESID SPA, an engineering and specialized technical support company wholly owned by the Italian state, presented a project proposal to mitigate the consequences of climate change in the Aral Sea, an area of Central Asia at high risk of desertification. The project idea, which envisages targeted interventions for the integrated environmental regeneration of the Aral Sea basin, also falls within the framework of the Italian presidency of the EU-Central Asia High-Level Conference on Environment and Water, the Italian Ministry of Foreign Affairs and International Cooperation said. During the meeting, it was also proposed to consider the involvement of the Italian Climate Fund, the main national public instrument for pursuing the objectives undertaken by Italy in the context of international agreements on climate and environment. The meeting also discussed issues of content for the upcoming meeting of the Ministers of Foreign Affairs in the “Italy + Central Asia” format, which will be held in 2024 in Rome, the Kyrgyz Foreign Ministry said.

Central Asia Uzbekistan Features Uzbekistan International Affairs

President Mirziyoyev Meets Xi Jinping on State Visit to China

Late on Tuesday night, the President of Uzbekistan’s press service reported that the head of state's plane had landed at Shoudou International Airport, where he was greeted by China's Minister of Culture and Tourism, Sun Yeli and other officials. The president's state visit started on Wednesday with a meeting with the Premier of the State Council, Li Qiang, wherein they discussed the expansion of economic interaction, participation of Chinese companies in privatization in Uzbekistan, increasing the number of flights, and other issues. Many important points were raised at the meeting, such as the 50% increase in trade turnover between China and Uzbekistan over the past year, reaching $14 billion, and the volume of Chinese investment in the Uzbek economy exceeding this same figure. The two parties set their sights on making this figure reach $20 billion. As planned within the framework of the state visit, Mirziyoyev also held meetings with a number of major Chinese corporations important for Uzbekistan. Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), discussed the expansion of strategic partnership, Dai Houliang, Chairman of the CNPC oil and gas corporation, talked about the implementation of promising projects in Uzbekistan on the construction of underground gas storage facilities and modernization of gas transportation systems, drilling technologies and the training of specialists, and Xi Guohua, head of the Chinese corporation CITIC, discussed the expansion of the portfolio of joint projects. Mirziyoyev also received Wu Fulin, Chairman of the Export-Import Bank of China, to discuss the bank's plan to open a regional office in Tashkent and prepare new promising projects for the development of transport and social infrastructure, industry, and in the private sector. At the main event of the visit, Mirziyoyev and Chinese President Xi Jinping signed a document which was described on President Mirziyoyev’s website as made possible by a "powerful breakthrough in bilateral relations" in recent years. The agreement includes cooperation in the field of environmental protection; technical and economic cooperation; cooperation in the development of human resources; cooperation between state scientific research institutions; cooperation in the field of teaching the Chinese language; a protocol on deepening cooperation on China-Central Asia-Europe railway and the development of cooperation in the field of new electric vehicles; cooperation in the field of poverty reduction; a protocol on further strengthening of scientific and technical cooperation; on cooperation in the field of standardization, etc. The two sides agreed to continue to comprehensively strengthen mutually beneficial cooperation in various fields and further enrich their strategic partnership.

Central Asia Uzbekistan International Affairs Uzbekistan Business & Economy Uzbekistan International Affairs

Mirziyoyev, Chinese Premier Discuss Economic Cooperation

Uzbekistan’s president Shavkat Mirziyoyev arrived in Beijing on January 23rd to begin a three-day state visit to China at the invitation of Chinese president Xi Jinping. On January 24th Mr Mirziyoyev had a meeting with the premier of the State Council of China, Li Qiang. The two parties discussed the trade and economic spheres, and both noted that Uzbek-Chinese relations have reached an unprecedented level in all areas, Mirziyoyev’s press service reported. Last year bilateral trade turnover grew by 50%, reaching $14 billion. The sides pointed out the potential for increasing this figure to $20 billion, including by increasing mutual supplies of high-quality agricultural and industrial goods. The total volume of Chinese investments in the economy of Uzbekistan currently exceeds $14 billion. The parties considered joint programs in the fields of infrastructure modernization, technology transfer in agriculture, and the development of green energy. They also discussed the potential for companies in Uzbekistan to cooperate more closely with leading Chinese banks and financial institutions, as well as the participation of Chinese companies in privatization processes in Uzbekistan. The parties also spoke for further expansion of air traffic and tourism initiatives between the two countries. Mr Mirziyoyev also met with the chairman of China National Petroleum Corporation (CNPC), Dai Houliang, to discuss new projects to construct underground natural-gas storage facilities in Uzbekistan and to modernize its gas transportation systems. The introduction of modern drilling technologies and the training of oil and gas workers was also discussed.