• KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
  • KGS/USD = 0.01149 0%
  • KZT/USD = 0.00191 0%
  • TJS/USD = 0.09217 0.44%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28615 0.14%
04 January 2025

Viewing results 163 - 168 of 175

President Promises Support for Youth and Business in Uzbekistan in 2024

In his New Year address, President Shavkat Mirziyoyev said that the outgoing year had been successful for the country and its people, emphasizing the importance of peace and tranquility, and an atmosphere of inter-ethnic friendship and harmony in the country. “For the first time in our history, in a nationwide referendum, we adopted a new version of the Constitution of the country. We have begun to implement the Uzbekistan 2030 strategy, which determines our development for the future,” Mirziyoyev said. The Uzbek leader stated that the country had ensured sustainable rates of economic growth, and that high-tech industrial enterprises, modern logistics and infrastructure networks, kindergartens and schools, cultural and sports facilities are being built. Mirziyoyev said that 2024 has been declared the Year of Support for Youth and Business in Uzbekistan. “In the new year, we will intensify the attraction of foreign investment and the creation of broad opportunities for entrepreneurship and private property. We will pay special attention to the development of science, innovation, the IT sector, and the creation of green and digital technologies,” he said. The focus will be on creating new jobs and increasing the income of the population, Mirziyoyev said, promising to raise the development of the social sphere to a new level.

Uzbekistan to Cover Growing Demand with Green Energy Sources

Uzbekistan has set a goal of doubling its industrial production by 2030 and plans to implement more than 500 major industrial and infrastructure projects worth $150 billion. To accomplish these ambitious goals, the country needs to have guaranteed and stable energy resources, President Shavkat Mirziyoyev said on December 27th, at the launch ceremony of major projects in the field of green energy. “We estimate that in the next six years, our country's electricity demand will increase from the current 83 billion to 120 billion kilowatt hours. We will cover this primarily through renewable energy sources,” Mirziyoyev said. Uzbekistan will continue its active investment policy to increase the capacity of green energy sources to 27 gigawatts by 2030, he said, adding that the country possesses enormous potential for green energy. “In order to encourage the industry, we have launched the ‘Solar House’ system to provide preferential loans and subsidies for the installation of solar panels and ensure the guaranteed purchase of generated electricity. This year alone, 50,000 households and entrepreneurs have installed solar panels in our country,” Mirziyoyev said. Currently, Uzbekistan is implementing projects for the construction of 22 solar and wind power stations with a total capacity of 9 gigawatts, and the government will create all the necessary conditions and preferences for foreign investors to implement such priority projects, Mirziyoyev concluded.

President Launches Six Green Power Plants with Total Capacity of 2.4 Gigawatts

On December 27th, President of Uzbekistan, Shavkat Mirziyoyev took part in a ceremony of commissioning and connecting to the power grid of five solar and one wind power plants in six regions of the country. The event was attended by top executives from Masdar, China Energy Engineering Corporation, China Energy International Group, China Gezhouba Group, SEPCO III, and Dongfang Electric Corporation, which implemented the investment projects. Speaking at the launch ceremony, Mirziyoyev said that today, “we are standing at an important event, which opens yet another bright page in the history of our country: six large solar and wind plants with a total capacity of 2,400 megawatts are to be connected to the grid”. The first phase of the three solar power plants has been built in Jizzakh, Samarkand and Surkhandarya regions by the UAE-based company Masdar. This company has also built a modern wind power station in the Tomdi district, and its 100-megawatt capacity was also commissioned during the ceremony. Gezhouba Group launched the construction of the first 400-megawatt solar power plants in Bukhara and Kashkadarya. Once commissioned, the President said, these projects worth $2 billion will generate six billion kilowatt-hours of electricity and save up to two billion cubic meters of natural gas. Moreover, two million homes in Uzbekistan will be provided with an uninterrupted and guaranteed electric energy supply.

Government to Support Projects of Young Investors and Entrepreneurs

On December 25th, Deputy Minister of Investment, Industry and Trade, Khurram Teshabayev took part in a dialogue between the Ministry and young Uzbek investors and entrepreneurs, the Ministry’s official website reported. The event gathered senior officials of the ministry and more than 500 representatives of the younger generation - successful investors and business people from all regions of the country, in online and offline formats. Opening the meeting, Teshabayev emphasized the importance of involving young people in entrepreneurial and investment activities, saying that a number of opportunities have been created in Uzbekistan to realize the potential of young people, including within the framework of the “Uzbekistan-2030 Strategy”. Today, the task of providing comprehensive support to young entrepreneurs and investors has been elevated to the level of state policy, the Deputy Minister said. Youth industrial-entrepreneurial zones with preferential treatment for manufacturers have been created, a fund to support young entrepreneurs has been established, which provides assistance in the implementation of investment projects and entrepreneurial initiatives, covering the production of products and the provision of services, startup projects and scientific research. Young entrepreneurs can receive support both by obtaining an infrastructurally developed territory for organizing production facilities, and in the form of financial assistance for the implementation of projects for the production of import-substituting products that are in high demand in foreign markets. To date, the Fund for Support of Young Entrepreneurs has allocated funds for the implementation of about 700 youth projects, with about 150 of them located in Youth Industrial Zones.

Natural Gas Production in Uzbekistan Down by 4.5 Billion Cubic Meters in 2023

According to Uzbekistan’s Statistics Agency, over the eleven months of 2023 to December, Uzbekistan reduced natural gas production by more than 4.5 billion cubic meters compared to the same period last year. From January-November, 42.7 billion cubic meters of gas was produced, compared to 47.3 billion cubic meters in 2022. Official statistics also recorded a decrease in the country’s oil production by 12,000 tons from January-November. In recent years, Uzbekistan’s natural gas industry has experienced problems due to the depletion of reserves at existing fields. This year, Uzbekistan started importing natural gas from Russia through Kazakhstan. A government meeting chaired by President Shavkat Mirziyoyev earlier this month focused on maintaining natural gas production volumes at existing fields and discovering new reserves. The meeting considered ways of transitioning to geological drilling at a depth of 6-7 kilometers using advanced technologies. It was stated at the meeting that in recent years, the depth of geological exploration has been increased from 2-3 kilometers to 4-5 kilometers. In 2024, it is planned to carry out seismic work on an area of 3.5 thousand square kilometers and drill new exploration wells.

Uzbek Foreign Ministry Summons Russian Ambassador over Annexation Comments

According to the press service of the Ministry of Foreign Affairs, the Uzbek Foreign Ministry has called upon the Russian Ambassador, Oleg Malginov, expressing concern over the proposal made by Zakhar Prilepin, co-chairman of the Fair Russia – For Truth Party, regarding the Republic’s potential accession to the Russian Federation. The Uzbek Ministry emphasized that such a proposal is deliberately provocative and could have adverse effects on the relationship between the peoples of both countries. "During the meeting, the representative of Russia was informed in principle that in our country the statement of the co-chairman of the Fair Russia - For Truth Party, Zakhar Prilepin, at a conference at the Rossiya Segodnya press center regarding a proposal to annex the territory of Uzbekistan to Russia was received with a sense of deep concern," the statement says, noting that such thoughtless remarks by party leaders of a friendly country such as the Russian Federation do not correspond to the spirit of comprehensive strategic partnership and alliance between Uzbekistan and Russia. In turn, Malginov "with full responsibility" stated that Prilepin's remarks do not reflect the official position of the leadership of the Russian Federation "in relation to friendly and independent Uzbekistan." The Ambassador emphasized that the “sovereignty, independence and territorial integrity of the Republic of Uzbekistan have never been questioned." Malginov also noted that the Russian Foreign Ministry plans to comment on this incident in the near future. Prilepin has previously proposed the annexation of Uzbekistan and other territories of the former USSR to Russia, stating that "Since two million of your citizens are on our territory, we claim your territory. Because most of your people are here… Who will forbid us to do anything useful on the territory of the Eurasian territory after the parade in Kiev? No one," Prilepin has also said that he would continue to promote the topic of "disavowing documentation about the collapse of the Soviet Union." Deputies from Uzbekistan asked the Ministry of Foreign Affairs to send a letter warning about criminal liability for encroachments on the constitutional system of Uzbekistan.