Uzbekistan Business & Economy - The Times Of Central Asia

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Uzbekistan and China: Cooperation in Ecology

A meeting was held at the Ministry of Ecology, Environmental Protection and Climate Change to discuss the prospects of cooperation and strategic partnership between China and Uzbekistan in the field of ecology and environmental protection. Important issues, including a number of promising projects based on the idea of constructing buildings that meet the principles of energy efficiency and environmental cleanliness were deliberated upon. In addition, the active introduction of green technologies and the development of strategies to recycle household and solid waste, including the recycling of batteries and the prevention of air pollution were proposed. Such projects are oriented towards the creation of a sustainable and environmentally friendly infrastructure, and reducing the negative impact on the climate. The meeting also focused on the establishment of global environmental standards, the widespread use of digital technologies, and studying China's experience in the field of ecology and creating mechanisms for environmental protection. At the meeting, China's best practices in the greening of barren desert areas was discussed. China is successfully implementing innovative methods, including the creation of specialized farms for planting seedlings. Measures to attract investors to implement the latest technologies in the systematic treatment of urban wastewater was also on the agenda. The Ministry of Environment and Natural Resources provided valuable information on the activities the government is actively pursuing to ensure the sustainable development of various sectors, including important work on environmental protection. In addition, the parties discussed the establishment of a national taxonomy of green projects and the establishment of a Green Fund. As a result of the meeting, the parties agreed to hold additional negotiations on these issues, emphasizing their intent and commitment to find the best solutions available.

Markets Should Attract More Foreign Tourists in Uzbekistan, Says President

On January 9th, the President Mirziyoyev attended a presentation of prospective designs for new tourism facilities. Mirziyoyev had earlier spoken about the need to effectively harness the country’s great tourism potential and increase the number of tourist sites and accommodations. At the presentation, the head of state examined projects developed in accordance with these objectives. It was stated that the picturesque mountain landscapes of the Shakhrisabz district of the Kashkadarya region and the Parkent district of the Tashkent region attract numerous tourists, especially in the spring and summer seasons. In order to expand amenities to attract tourists, it is planned to build modern recreation centers in Miraki, Shakhrisabz, Nurobod, and Kumushkon in the Parkent region, and to construct hostels on the Maydanak plateau in the Kashkadarya region. Markets, or bazaars, are one of the nation’s main attractions, but today some lack the national flavor necessary to entice foreign tourists, the President had earlier stated when instructing relevant departments to develop a project of complexes which reflect the national culture. The presentation reviewed draft proposals for transforming the markets of historical cities into complexes attractive to tourists. “Markets should be turned into a ‘calling card’ of the country, preserving their unique features. Food, clothing, jewelry stores, gastronomic and entertainment establishments should harmoniously complement each other and attract buyers and tourists,” Mirziyoyev said, noting the importance of studying the experience of Turkey and Arab countries and attracting foreign specialists to design markets. The presentation also provided information about the markets which are slated for construction in such tourist centers as Tashkent, Samarkand, Bukhara, and Khiva, with Mirziyoyev emphasizing that each should reflect the colors of its given region.

Uzbekistan Taking Measures to Increase Employment

At a government meeting on January 8th, President Mirziyoyev listened to proposals aimed at increasing levels of employment in the country. According to official statistics, the number of unemployed in now stands at 1.3 million, and this year another 2.4 million people will enter the domestic labor market. Taking this into account, officials said that this year they will create sustainable and well-paid jobs for five million people, including 2.5 million in the services sector, 2.1 million in agriculture, 250,000 in investment projects and industry, and 140,000 in construction. In addition, it is planned to involve two million people in business through the widespread introduction of new financial instruments, including a new microfinance system. At the meeting, the importance of vocational training for those without work experience was emphasized; 2024 has been declared the “Year of Support for Youth and Business,” with a focus on establishing more favorable conditions for doing business in the country.

Kazakhstan and Uzbekistan to Increase Bilateral Trade

On January 5th, the Minister of Investment, Industry and Trade of Uzbekistan, Laziz Kudratov met with the Minister of Trade and Integration of Kazakhstan, Arman Shakkaliev in Tashkent. The officials discussed the implementation of investment agreements and trade contracts signed during the recent visit of the President of Kazakhstan to Uzbekistan, as well as the further development of trade and economic relations and industrial cooperation between the two countries, the Uzbek Ministry of Investment, Industry and Trade said. The parties noted a growth of bilateral trade, stating that over the past six years, trade turnover has grown almost 2.5-fold from $1.9 billion in 2016 to more than $4.6 billion in 2023. The sides agreed on a number of measures aiming to bring bilateral trade to $10 billion in the coming years. In particular, they have agreed to establish a joint working group on the removal of barriers to bilateral trade. The parties also expressed readiness to support the activities of a joint foreign trade company, UzKazTrade, which will include an online trading platform for the sale of a wide range of goods in the markets of both countries. The ministers exchanged views on the development of industrial cooperation, referring to the practical aspects of establishing an International Center for Industrial Cooperation, "Central Asia". An agreement was also reached on taking joint measures to accelerate the establishment of the center and launching its operations.

Uzbekistan Plans to Attract Investment, Green Energy Development

On January 2nd, President Shavkat Mirziyoyev held a government meeting on attracting investments and developing green energy in 2024, at which it was stated that last year Uzbekistan attracted more than $22 billion in foreign investment, a 1.8-fold increase on the previous year. Mirziyoyev emphasized the importance of increasing the volume of foreign investment this year, with upmost attention to be paid to electrical and mechanical engineering, construction materials, pharmaceuticals, and the textile and leather industries. The meeting also discussed the development of green energy, with officials reporting that work is ongoing on 28 projects based on public-private partnerships for the construction of solar, wind, and hybrid power plants with a total capacity of 6.3 gigawatts. Of these, the first, with generating capacities of 2.6 gigawatts, were launched in 2023. Currently, work is underway on the construction of green power plants and energy storage systems together with companies from Saudi Arabia, the UAE, China, France, and Switzerland. In 2024, Uzbekistan plans to increase the total capacity of solar power plants to 2.6 gigawatts, wind farms to 900 megawatts, and launch energy storage devices with a capacity of 400 megawatts. At the meeting, instructions were relayed to study the possibility of introducing, based on international experience, agrovoltaics - the practice of agricultural producers installing solar panels on their fields to produce energy for their own needs or for sale, and for specific proposals to be drawn up for this area.

$10 Million Jewelry Factory to be Launched in Fergana

A jewelry factory will be created in the Fergana region together with Turkish businessmen. The project was discussed at a meeting of the regional khokim (administrative leader), Khairullo Bozorov, local businessman, Ulugbek Abdurakhimov, and Turkish partners, Ali Uyanik and Jezmi Shen, the press service of the regional khokimiyat reports. As of now, it is known that the plant will produce gold and silver jewelry. It is planned that a research department and a professional training center will operate at the plant. Its products will be targeted both at the domestic market and for export to Europe and America. The plant is set to create more than three hundred jobs.