During the Week of International Cooperation Initiatives, which took place on October 17-25 in Tashkent, Anthony Bringazen, Vice President for Central Asia of the Saudi company ACWA Power, said that the company is implementing large-scale projects in Uzbekistan worth about $15 billion.
This fund has been allocated for 15 projects. Most of the projects are related to wind energy. In particular, 87% of the investment will be directed to green energy projects, and the rest to the production of green hydrogen. All 15 projects are planned to be commissioned by 2030.
Anthony Bringaisen noted that after Saudi Arabia, Uzbekistan accounts for the largest volume of the company’s investments.
It is noted that the $1.1 billion TPP project in the Syr Darya will provide electricity to more than 3 million households and hundreds of industrial enterprises. The first phase of the green hydrogen project will produce 3 thousand tons of hydrogen. Next, the focus will be on mineral fertilizer processing and the construction of a 52 megawatt wind farm.
Biosphere Corporation, one of Ukraine’s largest household goods companies, has re-launched its business in Uzbekistan, according to the company’s Facebook page.
“Even in these difficult times, when many companies face challenges that seem insurmountable, Biosphere continues to step forward with confidence… Today we are sharing extremely important news: after a long pause, we have re-launched our business in Uzbekistan,” the statement reads.
According to the company, it has been only a week since the first shipment, but the eight largest regions of Uzbekistan have already been covered.
“We are expanding our presence in Central Asia to make Biosphere’s business even more sustainable and reliable. Geographical diversification is our strategic decision to ensure stability and prosperity in an ever-changing world,” the statement said.
According to Biosphere’s website, it began exporting its products to Uzbekistan in 2020.
In June 2022, in an interview with Interfax-Ukraine, the owner and CEO of the corporation, Andriy Zdesenko, spoke about the presence of large orders in Kazakhstan and Uzbekistan, but noted the existence of logistical and other problems with the supply of products.
Biosphere Corporation has been operating in Ukraine for over 20 years. Its products are represented in the markets of 30 countries in Europe and Asia. The product portfolio includes more than 2 thousand items under 13 trademarks: Freken BOK, Smile, Selpak, Vortex, Novita, PRO service, and LaiKit.
The corporation’s capacities are represented by four plants with a total production area of 35 thousand square meters in Dnipropetrovska, Kyivska and Khmelnytska regions, as well as logistics complexes with an area of 30 thousand square meters. Together with the French Groupe Lemoine, Biosphere also owns a plant in Estonia for the production of cotton products with an area of 8.5 thousand square meters.
Chairman of the Customs Committee of Uzbekistan Akmalhuzha Mavlonov met with U.S. Customs and Border Protection Commissioner Troy Miller in Washington, DC.
This is the first time in 32 years that Uzbekistan and the United States have held an official face-to-face meeting of this format between the heads of the two countries’ customs services.
Important agreements reached during the Uzbek-American summits in 2018 and 2023 paved the way for expanding mutual cooperation in all areas.
According to the agency, Uzbekistan’s foreign trade in US goods has increased by 48% over the past 6 years. For 8 months of this year, this figure increased by 64% compared to the same period last year.
It is emphasized that in order to increase these indicators, it is necessary to stimulate the expansion of foreign trade by establishing mutual cooperation and information exchange between the customs services of both countries.
That is why the negotiations focused on such pressing issues as monitoring risks at customs, digitalization of customs procedures and efficient use of human resources.
The heads of the customs services of the two countries signed an agreement on cooperation and mutual assistance, which is an important legal basis for cooperation in the field of customs. This document, which opens a new page in the relationship, provides for the exchange of information between Uzbekistan and the United States in the field of customs and serves to further strengthen cooperation in the fight against drug trafficking, human trafficking, transnational criminal groups, money laundering and customs evasion.
It is noteworthy that the United States has signed similar bilateral customs cooperation agreements with only 17 countries out of 200, and Uzbekistan is the 18th country on this list.
During the talks, the parties discussed in detail the possibilities of attracting specialists from the U.S. border and customs services to Uzbekistan, as well as the possibility of training Uzbek specialists in the United States.
During the visit, the Uzbek delegation is scheduled to familiarize itself with the activities of the U.S. National Targeting Center, the Academy of Cynology, San Antonio International Airport in Texas, the auto-border customs post in Laredo on the border with Mexico, and the Texas-Mexico international railroad crossing.
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World central banks in July, according to preliminary estimates of the World Gold Council (WGC), increased the amount of gold in their gold reserves by 37.1 tons.
The largest buyers were Poland (14.3 tons), Uzbekistan (9.6 tons) and India (5.4 tons). Jordan (4.3 tons), Turkey (3.8 tons), Qatar (2.3 tons), Czech Republic (1.6 tons), Egypt and Malta (0.1 tons each) also increased their reserves
Kazakhstan (3.9 tons) and Mongolia (0.7 tons) sold gold.
“Central banks have remained committed to hoarding gold in recent months. While the overall level of demand cooled slightly as the gold price continued to rise to new highs, it nevertheless remained positive,” WGC analyst Krishan Gopaul said in a review.
The Asian Development Bank has approved two loans to Uzbekistan totaling $400 million to implement large-scale reforms in the energy sector aimed at improving its efficiency and competitiveness, as well as developing the country’s financial markets.
ADB’s Director General for Central and West Asia, Evgeny Zhukov, said that the reforms supported by these programs will help create an enabling environment for regulators and companies to play their part in stimulating development by creating reliable domestic financial markets and meeting energy needs while fighting climate change.
ADB will provide $300 million to reform Uzbekistan’s energy sector, including creating a more effective governance structure, improving legislation, and attracting private investment.
To develop Uzbekistan’s financial market, ADB will provide $100 million to implement regulatory and institutional reforms aimed at improving market conditions to optimize financial transactions and services, and to increase supply and demand side measures to grow capital markets.
Uzbekistan joined ADB in 1995, and since then, the bank has provided $12.5 billion in loans, grants, and technical assistance to the country.
PrJSC “Pharmaceutical Firm “Darnitsa” will establish a representative office in Uzbekistan, the company reported in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).
It is specified that, according to the decision of the Supervisory Board of Darnitsa adopted on July 12, the representative office will be established “in connection with the constant development”.
As reported, in 2023, Darnitsa increased its share of exports to 4%. The company exports its products to 17 countries. In particular, thanks to the confirmation of the stability of medicines in the southern climate zone and compliance in Australia, the company can expand cooperation with New Zealand, Malaysia, Yemen and South Africa. At the same time, in 2016, Darnitsa stopped exporting to the Russian Federation, and after February 24, 2022, to Belarus.
In June 2023, Darnitsa registered one of its medicines in Australia, which, according to the company, is known for some of the strictest regulatory rules in the world.
In 2023, the company increased its net income from operating activities by 32.8% compared to 2022 to UAH 6.969 billion. The company named new products and higher selling prices as the main factors of the increase in revenue.
“Darnitsa” is the leader of the Ukrainian pharmaceutical market in physical terms. The company has been present on the market for over 90 years and produces medicines of 180 brands in 15 different forms. The strategic areas of development of the portfolio are cardiology, neurology, and pain management. According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the ultimate beneficiary of the company is Hlib Zagoriy.
