January 09, 2008
Economics:
Oman, Uzbekistan to develop several large economic projects
State Commission for Bids Extends Terms for Investment Offers
National Bank of Uzbekistan Sets Up ARC Network - Report
New Uzbek-Korean JV Launches Production of Medical Goods
Report: Surkhandarya-Based Company Named Best in CIS
SSP-Expocontact to organize education, carrier exhibition
Society:
Human Trafficking, its Consequences Discussed at Roundtable
Report: Bukhara Oil Refinery’s Workers Move to New Homes
Young families receive preferential credits
ECONOMY
OMAN, UZBEKISTAN TO DEVELOP SEVERAL LARGE ECONOMIC PROJECTS
Uzbekistan intends to supply bread-grain and fruit and vegetables production to the Oman Sultanate. This agreement was achieved during Uzbek businessmen's visit to Oman, the press service of the Ministry of Foreign Economic Relations, Investments and Trade reported.
The sides noted the need for shaping of an effective transport corridor between two countries. Oman proposed to conduct the first national commercial exhibition of Uzbekistan for the purpose of wide acquaintance of representatives of business circles of Oman with the Uzbek industrial potential in Muscat in 2009.
Representatives of Oman informed the Uzbek delegation about the fact that two state funds of the Sultanate - Reserve Fund and Investment Trust - were interested in creation of company together with the Reconstruction and Development Fund of Uzbekistan to realize investment projects. In particular, the creation of joint investment trust was proposed.
The Uzbek delegation was headed by Foreign Economic Relations, Investments and Trade Minister Elyer Ganiyev. Delegation united representatives of the State Property Committee, Uzbekneftgas, Chamber of Commerce and Industry, National Bank of Uzbekistan for Foreign Economic Activity (NBU) and Uzkhimprom holding.
A business forum and presentation of Uzbekistan's investment and tourism potential were held in Chamber of Commerce and Industry in the course of the visit. The forum was attended by representatives of over thirty leading companies and banks of Oman. An agreement on cooperation between the Chamber of Commerce and Industry of Oman and Uzbekistan was inked at the business-forum.
Furthermore, NBU and Oman Arab bank inked a Memorandum on mutual understanding. The sides agreed to develop investment projects in textile, petrochemical and construction spheres.
STATE COMMISSION FOR BIDS EXTENDS TERMS FOR INVESTMENT OFFERS
The State Commission for tender bids on selling state property to foreign investors has extended the term of filing tender offers for realizing stocks of 27 local companies, enterprises and organizations, according to the Narodnoye slovo newspaper.
A broad choice of sites on a wide variety of business directions was offered to foreign investors. The shares of stocks of the open joint-stock companies Uzbekugol (the state body on the coal industry), Samarkandkimyo (the Samarkand-based chemistry-related state company), Uzpahtamash (the state agricultural machinery), Jizzakh plastmassa (the Jizzakh-based plastics-production facility), and a number of other manufacturing companies are presented.
The one who is busied in the hotel business may obtain all 100 percent of stocks of the Markaziy Hotel Complex or 99 percent of stocks of the LLC Tashkent Palace Joint-Venture. For organizers of recreation and leisure, tourism and tours are presented for purchase the recreation area of Chinaz and Liner in the Tashkent Province.
The potential investors can acquire all necessary information not only about the starting price of share or full package of shares but also about the volume of investment obligations which the stock-buyers must assume.
For more information, go to the website of the Uzinfoinvest, the newly established body at the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan, which deals with the prospects of investing in Uzbekistan on the part of both domestic and foreign investors.
NATIONAL BANK OF UZBEKISTAN SETS UP ARC NETWORK - REPORT
The National Bank of Foreign Economic Activity of the Republic of Uzbekistan (NBU) jointly with Elsys-Savdo Electronic System of over-the-counter securities trade organized the network of application reception center (ARC) which operates based on the new software, the Pravda Vostoka newspaper wrote.
According to the NBU press service, this work is carried out in line with the Resolution of President of Uzbekistan of November 7, 2007 “On measures to further develop banking system and attract free money funds into banking circulation”.
The complex of measures on further extending the scale of electronic system of securities trade was elaborated. Based on this, the expansion of the network of regional application reception centers is now underway.
One of the main tasks of the ARC, which are being established at the departments and affiliates of the Bank, is to process applications from clients for the purchase or sale of securities.
The center-based software allows to file applications online. The filed applications – following the necessary procedures – participate at the electronic system of over-the-counter trading. If the application is well processed then the client may obtain all documents and information related to the bargain at the center where he has filed an application to.
The successful testing of the ARC software at the Head department of NBU in the city of Tashkent pinpointed to a real opportunity of establishing a complex, diversified and reliable over-the-counter market.
Along with registration of securities bargain a client may obtain quality consultation services at the ARC concerning the listing of applications for the purchase and sale of securities, as well as learn about Elsys-Savdo activity, clearance office and provisions of the ARC.
The owner of funds can also choose banking products, most fit for him, such as deposits, the on-site services on investing into securities, or transfer his savings to another banking product.
NEW UZBEK-KOREAN JV LAUNCHES PRODUCTION OF MEDICAL GOODS
Uzbekistan now accomplishes a tangible work in terms of modernizing production and broadly attracting investments, according to the local news agencies.
Last year over ten joint companies were established jointly with foreign partners in Ferghana Province. Recently another Uzbek and South Korean Joint Venture “Korea Hana Medical” was put into operation at the province.
The newly established joint venture was launched as a part of the territorial investment program and equipped with cutting-edge technologies that allow to set up production of quality medical goods from cotton fiber.
According to the specialists, the power capacity of reprocessing and production of goods at the joint venture is 700 tons of cotton fiber per year. The company employs over 50 young men and women, according to the reports.
REPORT: SURKHANDARYA-BASED COMPANY NAMED BEST IN CIS
The Angorpahta Joint-Stock Company in Surkhandarya Province has been awarded a diploma of the best company in the CIS, Certificate of gold quality, as well as a Gold Star, according to the Pravda Vostoka newspaper.
The graduate of the Tashkent Institute of Agriculture Khujanazar Abdurakhmanov came to the Angor Cotton Factory twelve years ago as a chief accountant. Later he was elected a chairman of the joint-stock company. For over the few years Abdurakhmanov achieved a full renewal of equipments and mechanisms, as well as launched new technologies. The output of fiber grew up to 36.2 percent with fluff and seed to have achieved a total-lot quality.
The products produced by the Angor Company are purchased almost by all CIS states and many other foreign countries. Last fall the Angorpahta Joint-Stock Company won at the Second international summit “The best company in the CIS” held in Moscow, according to the newspaper.
At the moment, Mr. Abdurakhmanov has left his previous post. He now leads the Angor notukima Limited Liability Company, the sole of its kind in the region, which was founded by him while he had served as a chairman of the joint-stock company.
Per day this enterprise produces 1200-1300 sets of non-woven packaging materials while ensuring with such product the whole cotton-cleaning industry in Surkhandarya Province.
SSP-EXPOCONTACT TO ORGANIZE EDUCATION, CARRIER EXHIBITION
SSP-Expocontact of the Chamber of Commerce and Industry of Uzbekistan will organize the Fourth International Exhibition "Education and Carrier", largest exhibition in Uzbekistan in sphere of education service, employment and equipment of educational establishments.
The exhibition is aimed at providing opportunity university entrants and their parents, pupils and students, employees to select options for education and re-training.
The organizers said the task of the exhibition is to attract public interest to professional education, inform youth on education opportunities in Uzbekistan and abroad, as well as present achievements of the industry, etc.
In 2008, the exhibition attracted over 35 institutes and universities of Uzbekistan, 116 colleges and lyceums of Tashkent, over 30 educational centers, universities of Russia, Latvia, Kazakhstan and Ukraine. Over 25,000 people visited the event.
SOCIETY
HUMAN TRAFFICKING, ITS CONSEQUENCES DISCUSSED AT ROUNDTABLE
Nowadays, the human trafficking is an acute problem which alarms the world community.
The Government of Uzbekistan undertakes a tangible work on preventing this phenomenon, not allowing the Uzbek nationals to be deluded, as well as rendering aid to the victims of human trafficking.
The participants of the roundtable held at the Banking college of Turtkul District in the Republic of Karakalpakstan have discussed these particular issues, according to the national newspapers.
The participants – the representatives of law-enforcement and self-governance bodies, teachers and students of other local colleges – spoke of the need of cooperation of respective bodies and public in struggling against this dangerous phenomenon to better ensure the rights and freedoms of citizens, as well as increase their legal and political awareness.
The adoption of the Law of the Republic of Uzbekistan “On counteracting human trafficking” in April 2008 and the Decree of President Islam Karimov “On measures to increase efficiency of counteracting human trafficking” in July last year became an important factor in further extending the work in this direction.
“At the moment, we accomplish measures on providing for implementation of such legal documents,” the Deputy Public Prosecutor of the Turtkul District Ziynat Rasbergenov said. “As a result of cases revealed during 11 months of last year related to human trafficking, nine people have been called to account.”
The participants of the roundtable noted that with a goal to avert the serious consequences of human trafficking it was necessary to strengthen preventive measures, to create additional jobs for youth, promote organization of labor fairs, as well as develop small and private businesses.
REPORT: BUKHARA OIL REFINERY’S WORKERS MOVE TO NEW HOMES
The New Year 2009 became as a sort of double holiday for the workers and specialists of the Bukhara Oil Refinery. About 20 families marked the holiday at a new apartment house, according to the Pravda Vostoka newspaper.
“The new house became a big festive gift for our family,” Maksad Rasulova said. “The house has all necessary conditions.”
According to the labor union of the Refinery, 32 new apartment houses were built in 2008 in the makhalla (the local neighborhood community area) in the city of Karaulbazar, where the workers of the refinery live.
Besides, a modern sports complex, recreation center and consumer services station have been commissioned at that makhalla, according to the newspaper.
YOUNG FAMILIES RECEIVE PREFERENTIAL CREDITS
Microcreditbank issued preferential credits to almost 9,000 young families worth UZS 15 billion for construction and repairs of their housing and improvement of living conditions, UzA reported.
Of that figure, 10 percent were families of the military servicemen. The credits help them purchase apartments, furniture, home appliances and hold weddings.
“We received a preferential credit for UZS 50 million and bought a two-room apartment,” military serviceman Markaboy Dauletboyev said.
Supporting the young people serving in the Armed Forces of Uzbekistan and those who have completed the service is one of the directions of the state policy of the country.