March 9, 2013
NEWS DIGEST for March 4-8, 2013

Meeting of the Uzbek-Japanese Committee on Economic Cooperation

11th joint meeting of Uzbek-Japan Committee on Economic Cooperation was held in Tashkent on March 5, 2013 within a framework of visit of Japanese business circles led by Mamoru Sekiyama, Vise-president of Marubeni Corporation.

Uzbek-Japan business forums have been regularly organizing since November 2006. Sides are also actively developing cooperation in technical aid, in the framework of which Japanese specialists hand over assistance in development of Feasibility study investment projects and holding of researches on projects in Uzbekistan.

Specialists of our country are going through short-term and medium-term internships on most various directions in Japanese International Cooperation Agency.

Largest Japanese companies and corporations such as Mitsui & Co.Ltd, Mitsubishi Corporation, Sojitz Corporation Ltd, Marubeni, Itochu Corporation, Isuzu Motors, Sumitomo Corporation and others are successfully operating in Uzbek market for a long time.

On the results of 2012, goods turnover between countries made USD 214.7 million.

11 companies with the participation of Japanese investment, as well as 1 is with 100% Japanese investment are operating in Uzbekistan. Main sphere of activity of these companies are trade operations, transport services, tourism and healthcare, machinery and metal processing, light industry.

Uzbekistan accredited 14 representatives of Japanese companies engaged in export-import operations, equipment supply in the framework of investment projects and others.


USD 30.5 Million will be Invested to Construction of Under-ground Mine

Uzbekistan takes measures on realizing investment project “Construction of under-ground mine at the minefield Kayragach”. The Resolution of Cabinet of Ministers of the Republic of Uzbekistan was signed on February 26, 2013.

These measures directed to provide for implementation of retired capacity on mining gold ore of Semguran mine and support level of load of reprocessing production capacity of Angren gold mining plant of Open Joint-Stock Company Almalyk mining-and-smelting plant.

The sources of financing in realization of project “Construction of underground mining at the minefield Kayragach” are the own means of Almalyk mining-and-smelting plant, including facilities of special investment accounts, in the amount equivalent to USD 10.6 million.

Loan of Fund for reconstruction and development of the Republic of Uzbekistan at the amount USD 6.72 million will be another source of financing. This loan will be refinanced through Ipoteka-bank and is granted with the term to 7 years, including two year privileged period with interest rate of 4 percent annual, including margin of refinancing bank at the amount 1 percent annual.

Loan of Ipoteka-bank in national currency at the amount of equivalent to 13,25 million US dollars which is allotted to 7 years term including two-year privileged period with interest rate non-exceeding refinancing rate of Central Bank of the Republic of Uzbekistan is also considered as a source of financing.

In line with the resolution Almalyk mining-and-smelting plant is the borrower and executive body responsible to in-time and full-range realization of project, as well as purposeful and effective application of attracted loans.

Within a framework of project “Construction of underground mining at the minefield Kayragach” Almalyk mining-and-smelting plant decided to carry out construction installment works by own capacity, if necessary, with the attraction of specialized construction-installment and other organization of Uzbekistan to perform subcontract works based on direct agreements.

The object is planned to put into exploitation in 2014.

Uzbekistan adopts measures to develop alternative sources of energy

President of Uzbekistan Islam Karimov signed a decree “On measures on further development of alternative sources of energy” on March 1, 2013.

The decree was adopted for further developing proposals on holding research and experimental-industrial developments, practical use of alternative sources of energy in Uzbekistan, organization of production of modern equipment and technologies in this sector.

The decree said that developed and developing states are speeding up practical use of alternative sources of energy as important factor for sustainable development and competitiveness of economy.

President Islam Karimov entrusted Cabinet of Ministers in cooperation of Uzbekistan Science Academy and interested sides to adopt measures on further deepening studies on use of solar and biogas energy.

Head of state also approved proposal of the Ministry of Economy, Ministry of Finance, Uzbekistan Science Academy, Uzbekenergo on creation of International Solar Energy Institute in Tashkent with participation of the Asian Development Bank and other international financial institutions on the base of scientific experimental center “Sun Physics”.

Islam Karimov also approved a proposal of the Ministry of Economy, Ministry of Finance of Uzbekistan, Uzbekenergo on implementation of the project on construction of solar photoelectric station with the capacity of 100 megawatt in Samarkand region.

Samarkand regional administration was entrusted to allocate land to Uzbekenergo till 1 July 2013 for construction of the solar power station.


Uzbekistan to implement 288 projects in food industry in 2013 Uzbekistan plans to implement 288 projects on construction of new, reconstruction and modernization of existing capacities on processing agriculture products and production of food products in 2013 with 94,564 billion Soums (official exchange rate of 05.03.2013 $1=2026.04 UZS) will be directed to implementation of these projects in 2013.

According to the national The Year of Well-Being and Prosperity program, , these projects are directed at deepening processing of agriculture goods and increase production of food products in Uzbekistan. In particular, Uzbekistan plans to implement 113 projects on processing milk with production capacities of 48,000t., 68 projects on processing meat with the production capacities of 11,300 t., About 98 projects with capacities of 73,700 t. will be realized in processing of fruits, vegetables and grapes sector. Nine projects will be realized in processing of other agriculture products.

Their capacities will make up 2,300 t.

According to the State Statistics Committee of Uzbekistan, the country produced 7.311 million tonnes of milk (+8.1%) and 1.673 million tonnes of meat in live weight in 2012.

Uzbekistan increase production of vegetables by 11.1% year-on-year in 2012 to 7.766 million tonnes, melons and gourds – by 9.6% to 1.418 million tonnes, fruits and berries by 9.7% to 2.053 million tonnes and grapes – by 10.5% to 1.204 million tonnes.


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