| Economy

"Uzbekistan Trade House" Opens in Dushanbe

Economy

A "Uzbekistan Trade House" specializing in construction materials has been opened in Dushanbe, the capital of Tajikistan. The purpose of establishing this new trade representative office is to increase the export of construction materials and strengthen trade ties between entrepreneurs of the two countries.

Central Bank Keeps Key Rate at 13.5%

Economy

On December 12, 2024, the Central Bank decided to keep the key rate at 13.5% annually. This decision is related to the ongoing high demand in the economy, the pressure on prices, and the elevated inflation expectations.

COP-29: UAE's Masdar to Build 1000 MW Wind Power Plant in Uzbekistan

Economy

At the COP-29 conference in Baku, Azerbaijan, Uzbekistan's Ministry of Energy signed an agreement with UAE's Masdar to build a 1000 MW wind power plant in the Uchquduq district of Navoi region.

Prime Ministers of Kazakhstan and Uzbekistan Discuss Trade and Economic Cooperation

Economy

At the IV Kazakhstan-Uzbekistan Interregional Forum held in Samarkand, the Prime Ministers of Kazakhstan, Olzhas Bektanov, and Uzbekistan, Abdulla Aripov, engaged in discussions focused on enhancing bilateral trade and economic cooperation.

Salary Growth Over the Year

Economy

According to the quarterly results, the average proposed salary reached 6.37 million sums, which is 16% higher than last year.

Uzbekistan Sees Growing Interest in International Investments

Economy

On September 24, Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, met with the President of the Turkic Investment Fund (TIF), Bagdat Amreev. The meeting focused on expanding international investment cooperation and fostering economic growth.

Fitch Confirms Uzbekistan's Credit Rating at 'BB-' Level

Economy

Fitch Ratings has affirmed Uzbekistan’s long-term foreign currency issuer default rating (IDR) at 'BB-' with a "Stable" outlook.

U.S. Budget Deficit Rises by 10% in July

Economy

The U.S. federal budget deficit reached $243.74 billion in July, marking a 10.4% increase compared to the same month last year, according to the Treasury Department.

Foreign trade turnover of Uzbekistan rose $31.8 billion, in half a year

Economy

The volume of trade turnover increased by $2.5 billion compared to the same period last year.

Amount of cherry juice produced in Uzbekistan revealed for five months

Economy

In January-May 2024, large enterprises in Uzbekistan produced 4.2 thousand tons of cherry juice. This was reported by the press service of the Statistics Agency under the President of the RUz.

Uzbek exporters are promoting agricultural products in the Kuwaiti market

Economy

The Embassy of Uzbekistan has organised online meetings between Kuwaiti and Uzbek companies to discuss how to further increase exports of Uzbek products to the Kuwaiti market, Dunyo news agency reports.

Plas Forum Digital Uzbekistan continues its work in Tashkent

Economy

The large-scale two-day event brought together key representatives of fintech, the banking sector and trade retail in Central Asia, as well as regulators and other government agencies, according to the information and analytical portal PLUSworld.ru.

Uzbekistan and Türkiye: Practical Steps Towards New Heights in Economic Cooperation

Economy

On June 5, on the eve of the official visit of President Shavkat Mirziyoyev of Uzbekistan to Türkiye, Minister of Investments, Industry, and Trade Laziz Kudratov, along with the Uzbek delegation, participated in several events in Ankara as part of the third meeting of the High-Level Strategic Cooperation Council between Uzbekistan and Türkiye.

Turkic states will lead the implementation of the world's first ePermit project

Economy

The project aims to simplify operations, reduce transit time and costs, and increase the region's competitiveness on the world stage, Turkish newspaper Yeni Şafak reported.

Turkic Investment Fund officially started its activities

Economy

The first inaugural meeting of the Board of Governors of the Turkic Investment Fund (TIF) member countries was held in Istanbul (Türkiye).

Representatives from Asia Alliance Bank took part in the annual meeting of the Islamic Development Bank in Saudi Arabia

Economy

Representatives from Asia Alliance Bank took part in the annual meeting of the Islamic Development Bank (IDB) in Saudi Arabia, which is currently underway in Riyadh. The bank's press service reported their participation and ongoing negotiations aimed at expanding cooperation and securing financing opportunities.

In March, Uzbekistan exported gold worth $1.35 billion

Economy

Since the beginning of the year, the export of precious metal has amounted to $2.66 billion.

Shavkat Mirziyoyev: Exports of products in the textile industry in 2023 amounted to $3.1 billion

Economy

Under the chairmanship of President Shavkat Mirziyoyev, a video conference meeting is being held to discuss measures to increase exports and investments in the textile industry. This was reported by the press secretary of the head of Uzbekistan, Sherzod Asadov.

Uzbekistan's banking sector sees asset growth

Economy

The assets of Uzbekistan's banking sector reached the mark of 648.6 trillion sums ($51.3 billion) as of March 1, 2024, which is 15 percent higher year-on-year. This is reported by Trend News Agency.