• KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00226 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 1304

World Bank Helps Uzbekistan With Digital Inclusion Project

The World Bank has given Uzbekistan a soft loan of $50 million to grow its digital economy. The loan will help employ about 9,000 young people -- including 4,500 women and 360 persons with disabilities -- in IT-related services. The funds will also be used to create 11 IT service centers, and train 6,200 people in digital skills, communication and foreign languages. The program, which will run until 2029, foresees the creation of a legislative framework in the IT sphere. The IT sector's contribution to Uzbekistan's GDP remains insignificant -- it was just 1.9% in 2022.

Uzbek Refineries Abandoning Kazakh Oil in Favor of Cheaper Russian Crude

Uzbekistan is reducing oil imports from Kazakhstan in favor of cheaper Russian oil, according to a report by the specialized, energy-focused Telegram channel, Oil & Gas of Kazakhstan. According to this source, in the first quarter of 2024, companies in Uzbekistan imported 15,200 tons of crude oil from Kazakhstan by rail for processing. In January-March of 2023, imports amounted to 25,600 tons. The main volume of raw materials this year went to the Ferghana refinery. At the same time, Russia's Gazprom-Neft shipped 75,000 tons of oil through the pipeline in transit through Kazakhstan in the first quarter of 2024. This is almost seven times more than a year earlier, when this figure was just 10,700 tons. By the end of 2024, Russia plans a full-year supply volume to Uzbekistan of up to 550,000 tons of oil, against a total of 154,300 tons a year earlier, which will be supplied through Kazakh state oil-pipeline operator, KazTransOil's trunk pipelines. The reason for the growth of supplies is a more attractive price, which is in part pushed down by both the G7's price cap of $60 per barrel on Russian oil exports, and India's disinclination to pay for Russian oil in rubles - which is driving down Russian exports. If oil from Kazakhstan is supplied to Uzbekistan at a discount of $8-9 per barrel relative to the North Sea Dated Brent oil contract, then the size of the discount on Russian crude is reaching $11-12 per barrel.

EU Supports Uzbekistan’s Anti-Corruption Efforts

The European Union, an EU Consortium under the leadership of GIZ (Germany), UNDP Uzbekistan, and the Anti-Corruption Agency of Uzbekistan, have joined forces to bolster Uzbekistan’s anti-corruption efforts. Funded by the European Union, "Improving Governance in Uzbekistan," was officially launched on 19 April, and targeting all 14 of Uzbekistan’s regions, will run until 2026. As reported by the Delegation of the European Union to Uzbekistan, the campaign will be actioned through two closely related projects. The first, “Inclusive corruption prevention,” will be implemented by the EU Consortium under the leadership of GIZ in partnership with Regional Dialogue and the Central Finance and Contracting Agency of Latvia. The budget of 4,550,000 euros is co-funded by the German government. The second, “Strengthening the National Anti-Corruption Ecosystem in Uzbekistan,” costing 2,500,000 euros, will be implemented by UNDP. Operating in tandem, the projects aim to address critical challenges faced by anti-corruption efforts including weak institutionalization and gaps between national and regional levels of their implementation. Ms. Charlotte Adriaen, EU Ambassador to Uzbekistan, expressed her optimism about the campaign, saying, “This initiative signifies EU’s continued support of the ambitious reform program in Uzbekistan. Supporting efforts in fighting corruption will be essential for ensuring sustainable and equitable development.” Speaking on behalf of Anti-Corruption Agency, director Mr Burkhanov outlined expansive plans to address the issue including the introduction of the Integrity Assessment initiative and ensuring that corruption reforms reach all regions. In addition, the agency is set to introduce digital technologies and artificial intelligence into the anti-corruption system, enhance cooperation of civil society institutions and increase their effectiveness, and introduce a coordinated system for cooperation with donors supporting anti-corruption.

Chinese Investors Plan to Build Solar Power Plant in Tashkent Region

Chinese investors have agreed to implement more major projects in Uzbekistan, according to statements made following the visit of a trade delegation from China to Uzbekistan's Tashkent region. Chinese businesses intend to invest $2 billion in the construction of a solar power plant in Ahangaran, $25 million in providing food for employees of social facilities, and $20 million in the construction of a diagnostic center. Also, Chinese investors are ready to invest $90 million in projects focused on the production of pharmaceutical products, metal structures, artificial fiber and threads. Earlier, Uzbekhydroenergo and China Southern Power Grid International agreed on joint construction of a 600 MW pumped storage hydropower (PSH) called Verkhny Pskem. The cost of the project is estimated at $1 billion. The first solar power plant in Uzbekistan was established with the assistance of the World Bank Group, Abu Dhabi Future Energy Company (Masdar), the Asian Development Bank and the Government of Uzbekistan. The station, with a capacity of 100 megawatts, became the country's first large-scale renewable energy facility. According to Uzbekistan's Ministry of Energy, the country plans to build about 25 large-scale solar power plants in the next 10 years.

Poor-Quality Gasoline Refused by Taliban Doesn’t Belong to Uzbekistan

The Customs Committee of Uzbekistan denied that gasoline returned by the Taliban due to its poor quality in fact belongs to Uzbekistan, according to a post on the committee's Telegram channel. The Times of Central Asia has reported that the Taliban returned 120,000 liters of gasoline imported via the Hayraton border point to Uzbekistan due to its poor quality. It has been reported that the returned oil products didn't originate in Uzbekistan. On the contrary, 120 tons of gasoline loaded in two tanker trucks were sent to Afghanistan from Russia and moved through the territory of Uzbekistan only in transit mode. On February 7, these tankers left for Afghanistan through the Ayritom station in Surkhandarya, Uzbekistan. These oil products returned by Afghanistan entered Uzbekistan on April 6 through the Ayritom station. Also, the Customs Committee asked certain mass media operating in the country not to distribute unverified, one-sided, unconfirmed information. “At this point, we ask the mass media to study carefully before disseminating such information, taking into account the friendly relations between the two countries,” the Customs Committee report said.

Tajikistan and Uzbekistan Sign Allied Relations Treaty

On April 18, Shavkat Mirziyoyev, President of Uzbekistan met Emomali Rahmon, President of Tajikistan in Dushanbe, where the two leaders signed a Treaty on Allied Relations between their countries. Referring to Tajikistan as Uzbekistan’s closest, most reliable, and time-tested strategic partner, Mirziyoyev announced, “The fraternal Uzbek and Tajik peoples are inextricably linked by strong bonds of centuries-old friendship. We are brought together by common history, cultural and spiritual values, traditions, and customs.” He went on to emphasize the enormous significance of the Treaty on Allied Relations saying, “With this step, we confirmed our strong mutual commitment to an irreversible course towards deepening the multifaceted Uzbek-Tajik strategic partnership and alliance. Without any exaggeration, this important document will mark a new historical milestone in bilateral relations.” Adding that the Treaty takes Tajik-Uzbek relations to a qualitatively new level, President Rahmon stated, “This document will also become an important factor in strengthening peace and stability in our region – Central Asia” On the eve of Mirziyoyev’s visit, a Tajik-Uzbek business forum resulted in a solid portfolio of new cooperation projects and trade contracts in mechanical engineering, electrical engineering, energy, mining, agricultural, textile and pharmaceuticals industries. During the Tajik-Uzbek talks it was reported that in recent years, bilateral trade turnover has increased 40-fold and the number of joint ventures has grown 15-fold. Tajikistan and Uzbekistan have now raised the bar by setting a target to increase trade turnover to $2 billion by expanding the exchange of supplies and launching cross-border trade zones.

Start typing to see posts you are looking for.