8 February,2012
Politics:
President of Uzbekistan meets Foreign Minister of Ukraine
Economics:
Uzbekistan to strengthen control over multi-level marketing
Focus on Local Business
Capital investments into Uzbekistan's economy will exceed 23.6 trillion soums in 2012
Society:
Dilshod Choriev wins gold medal of Paris Grand Slam
POLITICS
President of Uzbekistan meets Foreign Minister of Ukraine
President of the Republic of Uzbekistan Islam Karimov met with Konstantin Grishenko Minister of Foreign Affairs of Ukraine, at Oqsaroy on 6 February.
Welcoming the guest, the head of the state noted that the meeting provides a good opportunity to exchange views on a wide range of issues of Uzbek-Ukrainian relations.
Ukraine and Uzbekistan have accumulated an extensive experience of fruitful cooperation in political, economic, trade and investment, cultural and humanitarian fields.
Relations between our countries based on a solid legal base, which creates favorable conditions for cooperation across a whole range of mutually beneficial ways.
The next round of ministries consultations held on regular basis took place during the visit of Foreign Minister of Ukraine to Uzbekistan.
These negotiations have once again confirmed the proximity and similarity of views and approaches of Uzbekistan and Ukraine on many issues of bilateral cooperation, regional and international affairs.
The two countries are actively cooperating in the framework of such international bodies as the UN and the CIS.
Political and geopolitical significance and economic potential, as well as geographical location give Ukraine and Uzbekistan important role in enhancing inter-regional trade relations, development of transport and communications links in the Commonwealth and outside it.
At the meeting, issues on cooperation in economic sphere and expanding the range of bilateral trade were also considered.
The volume of mutual trade turnover in 2011 amounted to USD 665.9 million. 48 enterprises with participation of Ukrainian capital are active in Uzbekistan.
Ukrainian Foreign Minister expressed his sincere gratitude to the President of Uzbekistan for the reception, confirming the readiness of the Ukrainian leadership to the conclusion of bilateral relations to a higher level, corresponding to the long-term interests of our countries and peoples.
Prospects of cooperation between Uzbekistan and Ukraine, regional and international issues of mutual interest have been thoroughly discussed during the talks. (Source: UzA News Agency)
ECONOMY
Uzbekistan to strengthen control over multi-level marketing
Cabinet of Ministers of Uzbekistan adopted a resolution “On introduction of amendments to Rules of retail trade of Uzbekistan” on 1 February 2012, which strengthens control over multi-level marketing.
The document amends the rules of retail trade with such terms as “multi-level marketing”, “multi-level marketing organization” and “multi-level marketing agent”. The document also added new section “Peculiarities of conducting of retail trade through multi-level marketing”.
In line with the resolution, the multi-level marketing is type of retail trade, based on creation of network of multi-level marketing agents, which spread goods independently.
Multi-level marketing organization is legal entity of Uzbekistan, which carries out trade in the territory of the country independently or through multi-level marketing agents, the document said.
The document added that multi-level marketing agent is individual, who realizes goods through stationary trade points and work with potential customers through accepting orders at homes, establishments, organizations, enterprises, transport or streets, and income of who depends on the volume of sales.
Realization of goods to multi-level marketing agents by multi-level marketing organizations is carried out based on signed agreement between sides. At the same time, the multi-level marketing organizations should have license for wholesale, the document said. Retail trade of goods through multi-level marketing is conducted at stationary trade points by multi-level marketing agents.
Agents can also work with potential customers at homes, establishments, organizations, enterprises, transports or streets. At the same time, the agents should not thrust goods to consumers, who do not interested in offered products, and should stop to offer goods on the first demand of consumer.
Agents receive orders of any goods during direct contact. Agents register orders at registration form and submit one copy to customer.
The document said that agents should provide all information about goods to customers such as producer, country of production, quality characteristics, etc.
The document also noted that multi-level marketing agents cannot realize bioactive dietary supplements, medicaments and goods of medical purpose.
Agents can accept payments from customers only at stationary trade points with use of cash machines or POS-terminals, the document said.
The document banned to attract people at the age of below 18 and students of secondary special, professional educational establishments, to work as multi-level marketing agents.
At multi-level marketing, it is banned to set minimal quantity of goods, which agents should buy, or levy membership fee.
The Government entrusted state bodies to strengthen work on revealing and avoiding illegal supply of goods to territory of Uzbekistan, transportation and realization in form of multi-level marketing. (Source: UzDaily.com)
Focus on Local Business
A business forum ‘Entrepreneurship as Backbone of Robust Family’ took place in Navoi.
The event brought together officials of local banks and more than 400 representatives of business entities.
The participants reviewed the regional program the Year of Small Business and Private Entrepreneurship, which had a tangible impact on business development in the region. Regional branches of commercial banks notably contributed to the progress through increasing the loaning to small business entities 1.6 times. As a result, the share of small business and entrepreneurship in the gross domestic product and exports significantly increased. The program of economic development for the current year lays a special emphasis on expansion of the family business.
Besides, commercial banks will continue issuing concessional loans this year to motivate young families and graduates of professional colleges for making business, and provide mortgage and consumer credits to all those who want to improve their living conditions. Construction of standard design housing is to expand in rural areas; women's business initiatives will be actively supported. In general, it is planned to provide small and private businesses structures with loans amounting to 192 billion soums (Exchange rate of CB 1USD-1816,76 soums). (Source: Ut.uz)
Capital investments into Uzbekistan's economy will exceed 23.6 trillion soums in 2012
Investment program of the Republic of Uzbekistan for 2012 that was approved by the Head of State defined the main parameters of capital investment in the national economy. Their total volume exceeds 23.6 trillion soums (Exchange rate of CB 1USD-1811,86 soums) with 75.7% share of non-centralized investments.
Own funds of enterprises and households, along with loans of commercial banks, as well as the state budget and extra-budgetary funds are locomotives of economic development of Uzbekistan in the coming year. The analysis shows that the share of intra-financing in 2012 is 74.4% of capital investments.
Proportion of enterprises' own funds in the total volume of capital investments is also high. In 2012, according to the forecast, it will amount to 28.8%. Industrialization is the main priority of the investment policy of the state.
The country is implementing large-scale program of industrial development for 2011-2015 to improve the technical condition of fixed assets. Implemented since October 2011, the Program of priority measures to improve production and development of new types of competitive products in 2012-2016 with an estimated cost of $6.2 billion includes 270 investment projects.
The goal of modernization is to make domestic companies more competitive.
The funds are mainly invested in efficient equipment and technology. All projects are aimed at improving productivity, quality of products, and increase of export.
The share of domestic banks in investing in the economy is growing. According to the forecast, in 2012, the share of the banking sector in the 'capital pot' will increase to 14.8%. Last year the figure was 12.5%. At the same time 6.3% in the sector is occupied by soft loans of Qishloq Qurilish bank for the construction of residential houses in rural areas.
As for direct foreign investment and loans, in 2012 the share of this funding source in the structure of capital investments of the national economy is forecasted 18.3%, same as of last year.
The share of the Fund for Reconstruction and Development in 2012 is forecasted at 6% of the total capital investment in the economy.
In 2011, capital expenditures were utilized by all funding sources in excess of $10.8 billion, or 11.2% more than in 2010. The share of investment in GDP was 23.9%, reflecting the high activity of the investment process in the country.
This information was announced by the head of state at the meeting of the Cabinet of Ministers on the main results of 2011 and the priorities of socioeconomic development in 2012. (Source: UzReport.com)
SOCIETY
Dilshod Choriev wins gold medal of Paris Grand Slam
Judoka Dilshod Choriev from Uzbekistan won a gold medal at the Judo Grand Slam tournament in Paris at the weight category of 90 kg.
On his way to gold, Choriev defeated France’s Nicola Brisson, Poland’s Robert Krawczyk, Azerbaijan’s Elkhan Mammadov, Kiril Denisov (Russia) and Roman Gontiuk (Ukraine).
In 100 kg weight category Ramziddin Saidov and in absolute weight category Abdullo Tangriev claimed bronze medals.
Uzbekistan won the fourth place in general team classification. Uzbek judokas won four medals – two gold and two bronze medals. (Source: UzDaily.com)