October 23, 2009

Politics:
President of Uzbekistan receives Indian Foreign Minister
Economics:
International conference on attracting foreign investments to Navoi
IMF commends economic policy of Uzbekistan
15th Tashkent Tourism Fair completes
Society:
Tashkent Biennale Ends with ‘Bright Impressions’ on the Event
World athletes to compete in Tashkent

POLICY

PRESIDENT OF UZBEKISTAN RECEIVES INDIAN FOREIGN MINISTER

President of Uzbekistan Islam Karimov received Indian Foreign Minister Somanahalli Krishna in Tashkent on October 23.

Welcoming the guest, the head of Uzbekistan said that the relations between the two states were developing successfully. They are based on historical, cultural and spiritual closeness of the people of the two countries.

The Uzbek-Indian relations are based on the principles of mutual trust and respect. The two states have established close and constructive contacts on the highest level.

Uzbekistan and India support each other on the international arena and are developing cooperation in the framework of such regional and international organizations like the UN and the SCO.

At the meeting in Tashkent, Somanahalli Krishna expressed India’s interest in further development of the mutually beneficial bilateral cooperation with Uzbekistan.

The sides exchanged views on the further expansion of cooperation between the countries, as well as on other issues of mutual interest. (Source: National News Agency UzA)

ECONOMY

INTERNATIONAL CONFERENCE ON ATTRACTING FOREIGN INVESTMENTS TO NAVOI

Tashkent hosted an international conference, Navoi Investment Forum, dedicated to attracting foreign investment in the industrial free economic zone "Navoi".

The event was organized by the Ministry of Foreign Economic Relations, Investments and Trade and the Ministry of Finance of Uzbekistan jointly with the Asian Development Bank and Islamic Development Bank.

Representatives of major international financial institutions, international organizations and foreign companies operating in our country's diplomatic corps attended the forum, UzA reported.

It was noted in the Forum that under the leadership of President Islam Karimov, wide-ranging reforms implemented in the country have produced notable results. A free industrial and economic zone (FIEZ) "Navoi," formed on the initiative of President, contributes to the further development of the economy.

Presidential Decree "On establishment of industrial free-trade zone in the Navoi region" on 2 December 2008 is an important factor in further enhancing the productive capacity of Navoi region, and Navoi city, development of transportation and transit and social infrastructure, the introduction of high technologies, attract foreign investment.

Creating an international airport in the city of Navoi free industrial economic zone "Navoi" will play an important role in increasing the production of competitive products for world markets, creating jobs, improving living standards. Currently, large-scale work carried out to implement this Decree.

Intercontinental intermodal logistics center, created in this zone will be the only one in the territory of the CIS. The goods shipped from Asia to Europe and back, will pass through this center, which will become an important link in global transportation.

The main activity of economic entities in the industrial free-trade zone "Navoi" will become a large-scale production of high-tech products that are competitive on the world market through the introduction of modern equipment and machinery, production lines and models, innovative technologies. It is planned to manufacture a wide range of electrical and electronic products, components for the automotive industry, food, pharmaceuticals and medical equipment.

Business entities registered in the industrial free-trade zone "of Navoi," are exempt from land tax, property tax, profit improvement and development of social infrastructure, single tax payment (for small businesses), the mandatory payments to the National Road Fund and National school Fund from 7 to 15 years.

Business entities registered in FIEZ are exempted from payment of customs duties (except for customs registration duties) on imported equipment and raw materials. When the raw materials and components imported for the production of products sold on the domestic market of Uzbekistan, customs duties are levied at 50 per cent of the rates (excluding fees for customs clearance) with a deferment of their payment for up to 180 days if the legislation does not installed more preferential treatment.

Economic entities registered in the industrial free-trade zone "Navoi", allowed to practice within FIEZ settlements and payments in foreign currency in accordance with the agreement concluded between them and the contracts.

Currently FIEZ "Navoi" signed 19 agreements for 187 million dollars to establish industrial enterprises. After the operation of the enterprises at full capacity they will produce good for 375.5 million dollars per year, almost half of which will be exported. In 2010, 50 projects planned development in free industrial and economic zone "Navoi".

Speakers at the conference have noted that Uzbekistan created a favorable investment environment, opportunities and preferences for foreign partners. They are an important factor in sustainable development of the economy.

At the forum the foreign participants were presented with details of the priorities for attracting investment in the economy, particularly in the industrial free economic zone "of Navoi, Uzbekistan on the potential oil and gas, mining industry, automotive, construction materials, agriculture and pharmaceuticals. It was noted that political and economic stability is a powerful incentive consistent growth of GDP.

"The Asian Development Bank appreciates the cooperation with Uzbekistan," said vice-president of the Asian Development Bank Xiaoyu Zhao.

"Once again, I was convinced that in a free industrial and economic zone "Navoi" there are all conditions for business activity. Uzbekistan achieved high economic performance. Asian Development Bank is widely supported reforms implemented in Uzbekistan in all spheres."

The guests familiarized with the favorable investment climate and opportunities created by free industrial trade zone "Navoi", the prospects of joint work, the privatization process, reforms to further develop the country's economy, small businesses and private entrepreneurship.

At the conclusion of negotiations between the Uzbek enterprises and foreign companies have signed documents on cooperation in oil, fuel and energy sector, the field of pharmaceuticals, light industry, textile, food, chemical and electrical engineering, mechanical engineering and other fields.

IMF COMMENDS ECONOMIC POLICY OF UZBEKISTAN

The mission of the Executive Directors of the International Monetary Fund (IMF), which consisted of Meg Landseyger, Agee Bakker, Amboise Faiola, Ho Jian Xiong, Thomas Moser and Klaus D. Stein, following the visit to Uzbekistan, held a press conference for local and foreign journalists, at which they noted the successes of the economic development of Uzbekistan in the conditions of the global financial crisis.

Speaking on behalf of the delegation, the executive director from Germany Klaus Stein said that the delegation had arrived in Tashkent from Istanbul, where the main theme of the annual meeting of the IMF and the World Bank Group was the world economic crisis. According to him, the study and comparison of the impact of the crisis on the economies of different countries was one of the objectives of this mission’s visit to Uzbekistan.

Klaus Stein expressed appreciation for the opportunity to meet a variety of stakeholders in the country, including representatives of the public and the private sector.

Answering the reporters’ question on how the IMF assessed the anti-crisis program in Uzbekistan, Klaus Stein noted that “Uzbekistan has remained largely unaffected by the global economic crisis as a result of prudent policies, allowing the government to accumulate substantial resources required for growth in this period and be resistant to the crisis”.

“This is also the result of a conscious policy of participation in global financial markets, pursued by the authorities,” he said.

The IMF representative added that the government had developed a wide range of measures to stimulate the domestic demand. “We welcome these steps,” he said.

Regarding the forecasts of economic growth in 2009-2010, the executive director from Switzerland Thomas Moser said that according to the latest publication of the IMF about the world economic outlook, the expectations of the economic growth in Uzbekistan this year are 7-8%, and in 2010 this figure is projected at a level no lower than in 2009.

Klaus Stein also admitted that the view of the IMF in relation to Uzbekistan on a number of positions had changed, as the country could demonstrate the correctness of the pursued economic policies in the difficult conditions of the global financial crisis.

“The IMF’s view in terms of assessment of the economic policy in Uzbekistan, the pace of reforms, the policy of foreign borrowing, the state’s role in economic management and banking supervision in the recent years has largely changed. Undoubtedly, the global economic crisis, during which Uzbekistan has managed to prove the correctness of its economic policy, has contributed to this,” he stressed.

Concluding the press conference, Klaus Stein on behalf of the delegation said: “We support the continuation of the excellent relations of the IMF with the official authorities of Uzbekistan.”

15TH TASHKENT TOURISM FAIR COMPLETES

The 15th Tashkent International Tourism Fair completed in the capita. The event, organized by Uzbektourism national company, attracted more than 200 companies from 25 states.

The development of tourism and improvement of the service sector are among the priority areas of the policy, pursued in Uzbekistan under the leadership of the President Islam Karimov.

The tourism infrastructure is constantly being improved, sports, cultural, environmental and historical tourism are being developed, new tourist routes are being introduced and modern hotels built in the country.

The two-day tourism fair, titled “Tourism on the Silk Road” aimed at further improvement of the tourism sector and strengthening international partnership ties.

The participants of the forum could get acquainted with the latest news in the sector and exchange experience.

SOCIETY

TASHKENT BIENNALE ENDS WITH ‘BRIGHT IMPRESSIONS’ ON THE EVENT

The Fifth Tashkent International Biennale of Modern Art has come to an end in the capital city of Uzbekistan.

The closing ceremony of the grand event took place at the Youth Creativity Palace in Tashkent, the website wrote.

The international biennale was held in cooperation with the Academy of Arts of Uzbekistan, Forum of Culture and Art of Uzbekistan Foundation, UNESCO Office in Uzbekistan and Tashkent City Municipality.

The Biennale, which took place in the framework of the “Art Week Style.uz – 2009” event, saw participation of more than hundred figures of art from about 30 countries of the world.

The Biennale was dedicated to the theme “Philosophy of city: anthropological landscape”, which has allowed by way of fine arts to reflect the spiritual atmosphere of cities and life of city-dwellers, their spiritual criteria and values, according to the website.

On the outcomes of the Fifth Tashkent International Biennale of Modern Art the Grand Prix for the creative project “Turkestan remake” went to the arts critics Akbar Khakimov of Uzbekistan.

The artist Akbar Behkalam of Germany is reported to have secured the first place, Nonki Nishimura from Japan and polish artist Solarek Ireneush took the second place and Setenoy Ozbek from Turkey – the third. (Source: Jahon Information Agency)

WORLD ATHLETES TO COMPETE IN TASHKENT

On 24-28 October, Tashkent will host the world and Asian championship in belbogli kurash wrestling among adults and the continental championship among young athletes.

The championships will be held in the framework of the Fourth Traditional Martial Arts World Festival.

“Belbogli kurash as a national sport had developed from ancient times in more than 100 countries,” said president of Uzbekistan Belbogli Kurash Federation Rustam Isakov. “This is evidenced by archeological findings discovered in different regions of Asia, and particularly in Central Asia.”

Today belbogli kurash ahs evolved into a sport which is becoming known on the international arena. And the Uzbek school of fighting is considered one of the strongest in the world. Belbogli Kurash, inextricably linked with the culture of the Uzbek people, has for centuries been considered a national value.

As a result of extensive work on the revival of national values carried out in the country during the years of independence, belbogli kurash has received extensive development and now has an international status. The team of Uzbekistan officially participates in belbogli kurash world championships since 2005, and it has already proved to be one of the strongest in the world.

In competitions in Tashkent, about 500 fighters from more than 60 countries will take part. In addition, the world and Asian championships in freestyle and national types of belbogli kurash among men and women, and the continental championship among young athletes in freestyle and classic wrestling will be held here. Uzbekistan will be represented by 55 athletes. (Source: National News Agency UzA)