Monday, 14, October, 2019

Finances

Uzbekistan plans to form a regulatory framework for creation of private pension funds in the country, said Atabek Nazirov, director of the Capital Market Development Agency.

On October 7, President Shavkat Mirziyoyev chaired a meeting dedicated to the development of Uzbekistan's stock market, the presidential press service said.

Amendments are being drafted to the Central Bank of Uzbekistan Law, which propose to increase by 500 times the authorized capital of the Uzbekistan Central Bank from the current 2 billion to 1 trillion soums.

TheCityUK and the Capital Markets Development Agency of the Republic of Uzbekistan today signed a landmark Memorandum of Understanding (MoU) to support increased access and co-operation between the UK and Uzbekistan.

The Asian Development Bank (ADB) has approved a $60 million loan to construct hydropower plants (HPPs) capable of adding 25 megawatts (MW) capacity, which will help the Government of Uzbekistan achieve its goal of diversifying the country’s energy mix through greater use of clean energy sources and lowering carbon emissions.

The Asian Development Bank (ADB) has approved a $150 million loan to Uzbekistan to increase the access of livestock farmers and entrepreneurs to finance, markets, and veterinary and other animal health services, which will help increase their productivity and contribution to the national economy.

The European Investment Bank and the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan signed today in Tashkent a Memorandum of Understanding paving the way for a EUR 100m investment program designed to join in international efforts to recover the Aral Sea.

The volume of Uzbekistan's total external debt as of July 1 reached US$ 20.7 billion, recording a 20% or US$ 3.4 billion increase year-to-date, the Central Bank said in a report.

President Shavkat Mirziyoyev today signed the Improving Uzbekistanis Tax Policy Decree cuttıng the value added tax (VAT) from 20 to 15% as of October 1, a source in the government told the Tashkent Tımes.

The Central Bank of Uzbekistan has joined the Maya Declaration, a global initiative for responsible and sustainable financial inclusion that aims to reduce poverty and ensure financial stability for the benefit of all., the press service of the Central Bank said.