June 1, 2007

Politics:
MPs discuss improvement of investment climate in Uzbekistan
Economics:
Uzbek Cabinet’s ICT coordination council holds session
Boeing will deliver two 787-8 Dreamliners to Uzbekistan Airways
International Investment Forum 2007
Society:
Presidential Decree Awards “Neftchi” FC Head Coach An Order For ‘Merits’
South Korea’s KOICA Propels E-Library Establishment at UWED
UNESCO to Put Out Book On Bioethics With Info On Avicenna’s Works


POLITICS

MPS DISCUSS IMPROVEMENT OF INVESTMENT CLIMATE IN UZBEKISTAN

As outlined in report delivered by President Karimov at the meeting of the Cabinet of Ministers devoted to the results of socio-economic development of the country in 2006 priority directions of intensification of economic reforms in 2007, "intensification of market reforms, liberalization of the economy and implementation of measures to strengthen the protection of proprietary rights have had a positive affect on the improvement of the investment climate in the country and attraction of the increasing volume of foreign investments".

President also emphasized that foreign investments made in the country's economy allow the implementation of promising projects jointly with foreign partners. They also stimulate the integration of advanced technology, and improvement of the quality of products and country's economic competitiveness in the world market.

In the light of all said above, as one of the priorities for the intensification of economic reforms in the future the government has set the task to intensify the efforts on attraction of foreign investments, particularly direct investments.

The issues concerning further development of national legislation and the regulatory framework for the flow of investments from abroad were discussed during the conference on "Protection of investors' rights and improvement of foreign economic relations" held on 30 May in the Senate of Oliy Majlis (parliament) of Uzbekistan. The event was organized by the Committee for Foreign Political Issues, the Committee for Budget and Economic Reforms and the Chamber of Industry and Commerce of Uzbekistan, the press service of the Senate of Oliy Majlis said.

In the course of discussion it was noted that thanks to the consistent implementation of economic reforms and the creation of favourable system of benefits and preferences, over US$20 billion were attracted to Uzbekistan in 2006. Over the period of 2000-2006 direct investments in the country grew 9.3 times to US$2.5 billion.

It was also emphasized that foreign investments stimulate the implementation of structural reforms in the economy of Uzbekistan, the expansion of production of finished goods, and increase in export volumes. The growth of the flow of direct investments is an evidence of the recognition of the correctness and efficiency of large-scale democratic and market reforms taking place in Uzbekistan by foreign partners. Conference participants noted on the need to activate the efforts on further attraction of capital from abroad, first of all, foreign direct investments.

The conference was attended by the members of the Senate and the Legislative Chamber of Oliy Majlis, scientists and experts, representatives of a number of ministries and agencies, the diplomatic corpus, international financial institutions and media.


ECONOMICS

UZBEK CABINET’S ICT COORDINATION COUNCIL HOLDS SESSION

Coordination Council for computerization and information and communication technologies held its regular session at the Cabinet of Ministers of Uzbekistan.

Officials from ministries, state agencies and representatives from local administrative bodies participated in the session.

The participants considered issues development in the ICT sector, execution of the laws and providing security of the ICT sector.

The council said one of the priority tasks for the nearest are introducing e-documents in the national segment ICT.

BOEING WILL DELIVER TWO 787-8 DREAMLINERS TO UZBEKISTAN AIRWAYS

Uzbekistan Airways and Boeing announced an order for two Boeing 787-8 Dreamliners. Uzbekistan Airways s will operate the Dreamliners.

At a press conference on May 30 in Tashkent, Uzbekistan Airways said the new 787s will allow the airline to increase frequencies and add new internationally.

"The 787-8`s size and superior range open up a wider choice of destinations that we can offer our customers," said Valeriy Tyan, General Director, of Uzbekistan Airways.

With today’s announcement, Uzbekistan Airways becomes the first carrier in Central Asia to order the 787 Dreamliner.

The 787 produces 20 percent fewer CO2 emissions and has a 60 percent smaller noise footprint on takeoff and landings than other airplanes in its size and range category.

The Boeing 787 Dreamliner provides passengers with a better flying experience and operators with more efficient commercial jetliners. Using up to 30 percent less fuel per passenger than similarly sized airplanes, the 787 is designed for the environment with lower emissions and quieter takeoffs and landings. Inside the airplane, passengers will find cleaner air, bigger windows, more stowage space and improved lighting.

INTERNATIONAL INVESTMENT FORUM 2007

International Investment Forum opened on 29 May at InterContinental Tashkent Hotel. Avesta Investment Group and NAUR National Association of Securities Market Participants organised the event.

Among forum participants are business proprietors, advisors on and managers for external investments, finance managers, financial analysts, heads of investment policy departments and other concerned divisions of medium-sized and large enterprises, holdings and groups. The forum may also be of interest to the representatives of the collective investment funds of banks participating in the stock market operations, investment, management, construction and insurance companies and law firms.

For the past several years, Uzbekistan has been observing a stable economic growth and improvement in key indicators of economic development, particularly, stable exchange rate, and state budget surplus. A healthy investment climate and a favourable regulatory framework are being developed which creates positive conditions for the establishment and development of business relations. Undervalued assets of companies in different sectors of economy are of particular interest to foreign investors.

In the course of this important event in the economic life of the country, participants will discuss the most urgent issues relating on the financial climate in Uzbekistan, including the issues of investment opportunities and the prospects of attracting investments in securities and commercial property. In the framework of the forum, information on the mechanisms and methods of attracting foreign investments was provided. Participants analysed practical experience in this sphere and discussed the prospects of developing the flow of investments into the country and the international trends in the formulation of investment strategy.

The forum is intended to show investors reliable companies and the most attractive projects for financing, and explain the companies wishing to attract external investments the main criteria looked at by investors, show them how to create a platform for implementing best practice in attracting investments. It was also intended to stimulate the establishment of business contacts between investment market participants and sharing of experience by the leading management companies of the CIS on the issues of financing, capital market analysis, project management, leasing, etc.

As the forum continues, participants will discuss the most urgent issues concerning the financial climate in Uzbekistan, including investment opportunities and prospects of attracting investments through the IPO placement of shares at the international exchanges and the issuance of euro-bonds. Companies will be provided information on the mechanisms and methods of attracting foreign investments in Uzbekistan, and will be familiarized with the practical experience in this field and prospects of developing the flow of investments into the country.


SOCIETY

PRESIDENTIAL DECREE AWARDS “NEFTCHI” FC HEAD COACH AN ORDER FOR ‘MERITS’

On May 29 this year, Islam Karimov, the President of the Republic of Uzbekistan, has signed the Decree, which awards the head coach of the “Neftchi” Football Club (FC) Yuri Vazgenovich Sarkisian an Order of “Mekhnat Shukhrati” (‘Glory of Labor’), according to the reports by national newspapers.

The Presidential Decree has read that Mr. Sarkisian has been awarded the said Order “for the manifested selflessness in popularizing the mass sports in our country, in particular, the football, merits in upbringing the younger generation in the spirit of love for the Homeland, establishing the harmonically developed personalities, tangible contribution to the training of the highly qualified football players able to deservedly defend the honor of our country at the international contests, and many-years long fruitful work”.

The “Neftchi” FC is among the top teams in the nation, which has not once embraced several high-profile wins both at home and world, in particular, Asian football matches against the renowned teams of the continent.

SOUTH KOREA’S KOICA PROPELS E-LIBRARY ESTABLISHMENT AT UWED

The electronic library, so far considered to be the only of its kind in Central Asia, has been launched at the University of World Economy and Diplomacy in Tashkent. The project of establishing such e-library has been undertaken given the technical and financial support of the Korea Agency for International Cooperation (KOICA). It has allocated the grant worth 850 thousand US dollars.

The electronic library, so far considered to be the only of its kind in Central Asia, has been launched at the University of World Economy and Diplomacy in Tashkent.

The project of establishing such e-library has been undertaken given the technical and financial support of the Korea Agency for International Cooperation (KOICA). It has allocated the grant worth 850 thousand US dollars.

The Korea Agency for International Cooperation has been accredited in Uzbekistan since 1995. It actively cooperates with Uzbekistan as a part of technical assistance on the part of the Government of the Republic of Korea.

To date the total volume of the KOICA’s assistance to Uzbekistan has reached 16 million US dollars. Nearly 700 staff members at the Uzbek ministries and agencies have gone through the training with the support of the Agency.

The visiting members of the National Assembly of the Republic of Korea, Uzbek students and faculty of the university have taken part in the inauguration ceremony of the electronic library.

As a part of implementation of the project, which took off in 2005, the South Korean side had delivered the necessary equipment to the university. Also, the UWED faculty went to the training to South Korea. Besides, the volunteers from Korea had also arrived in Uzbekistan to upgrade the local knowledge on computers and library keeping.

“My country accords a special importance to comprehensive development of ties with Uzbekistan, which for over the past time had acquired a strategic partnership nature,” Mr. Kim Kwan-won, the member of the South Korean National assembly (national parliament), has said.

Following the inauguration of the e-library the delegates to the event have spoken to the UWED students, the library personnel, and the South Korean volunteers, as well as observed the Korean culture museum on the site.

While talking to the Information Agency “Jahon” Mr. Kim Kwan-won has emphasized the successes of Uzbekistan for over the 16 years of sovereign development.

He has believed that the participation of the South Korean side in establishing the e-library at the UWED is a particular contribution to the general process of training the highly qualified cadres in Uzbekistan.

UNESCO TO PUT OUT BOOK ON BIOETHICS WITH INFO ON AVICENNA’S WORKS

UNESCO is going to issue the book, namely “Making and development of biomedical researches in the CIS countries”. Its separate chapter will be devoted to Uzbekistan, according to local agencies. “The books by Avicenna report first on ethical norms while undertaking the research in medicine and biology.

About this we are speaking in the chapter on the development of the bioethics in Uzbekistan”, - the co-author of the book, academician Malika Abdullakhojaeva has said.

According to the experts of the World Health Organization (WHO), only the bioethics of Uzbekistan of all countries of Central Asia meets the main four indices of development of this science. The National Committee on bioethics operates in the country. Also, there is an information center. The ethical examinations are held in the country, as well. A special course on the subject is taught at the educational institutions.

The National committee on bioethics of Uzbekistan at the Ministry of Heath has been founded in 2000, the first of its kind on the territory of Central Asia. The scholars from Kyrgyzstan and Turkmenistan are reported to have based on the Uzbek experience while establishing the local national bioethics committees. Headquarters of the Association of bioethics committees of the countries of Central Asia is in Tashkent. The Association has been established in late last year.

At the moment the scholars of the country speak about the need to establish the similar structures at the other bodies of state power, in particular, the Ministry of Agriculture and Water Economy, State committee on protection of nature and environment, and the Ministry of Justice.