September 10, 2007
Economics:
BNP Paribas awarded tender for valuation of Asaka Bank stock
Both quality and profit
Golden hills
Qizilqumsement will increase production of cement up to 1 million tons
NavoiAzot's output exceeds 120bn soums
Society:
Celebrations of Margilan city’s 2000th anniversary held
Youth, Environment and Sustainable Development Forum to be held
The road to the land of knowledge is open
ECONOMICS
BNP PARIBAS AWARDED TENDER FOR VALUATION OF ASAKA BANK STOCK
BNP Paribas Investment Bank (France) has been awarded the tender announced by the State Property Committee's Tender Commission for the valuation of 51% shareholding in Asaka State Joint-Stock Commercial Bank, according Uzreport.com Business Information portal.
The parties are now negotiating the details of the contact, a source at the State Property Committee of Uzbekistan said.
As reported earlier, according to the state privatization and denationalization programme, Asaka Bank is to be sold to private investors by 2009 through open tenders.
Asaka State Joint-Stock Commercial Bank has been operating in the financial sector of Uzbekistan for over 10 years. Founded in 1995, it is now the second largest bank in the country both in terms of capital and assets. The bank positions itself as a large universal financial-crediting institution offering a wide range of traditional and innovative banking services.
Asaka Bank is an active participant of foreign economic cooperation. It assists the process of attracting foreign direct investments for the development of the key sectors of the national economy. It has been recognized as the "Best bank of the year in Uzbekistan" by EuroMoney, Global Finance and The Banker several times.
BNP Paribas is a French bank, one of the main banks in Europe and the world. BNP Paribas is the largest bank in the Eurozone by total assets and second largest by market capitalization according to The Banker magazine. BNP Paribas was created 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. Together with Societe Generale and Credit Lyonnais now LCL, it is part of the "three old" banks of France.
BOTH QUALITY AND PROFIT
The most modern oil processing plant in Central Asia the Bukhara Oil Refinery has celebrated its 10th anniversary. In August of 1997 it was launched to supply the internal consumers with high-quality lubricities.
Before obtaining national independence the whole economy of Uzbekistan directly depended on imported fuel. Owing to well thought out and purposeful policy of the Uzbek government, great reserves of hydrocarbons and hard work of oil and gas personnel, in 1995 Uzbekistan achieved fuel independence, and the Republic left the list of importers for that of exporters, according to Uzbekistan today.
At present 45.8% of totally produced gasoline of Uzbekistan, 32.1% of air kerosene, 25.1% of diesel fuel and 35.8% of black oil fall to the share of Bukhara Oil Refinery. The competition that is typical of market economy requires constant searching and improving the quality of goods. As a result of expanding the range of goods, the plant has launched output of such gasoline as AU 80, AU 91 and AU 95.
The Chief Engineer of the Bukhara Oil Refinery Bahrom Mirzabekov informs UT that at present the company is developing an ecologically pure diesel fuel. Measures of rapidly expanding its resource basis are productive as well. During the first four or five years of the enterprise’s activity raw oil was supplied in pipes and now highly developed railway infrastructure allows the company to transport over 50 percent of raw oil using railroad lines. The installation of ELOU 2 set is of great importance here. This equipment reduces the level of harm, made by salts for the technological equipment, and guarantees the stable quality of goods.
Improving the quality of goods demands to observe the modern technological standards and advance the qualification and responsibility of workers and engineers. Therefore, the Bukhara Oil Refinery has integrated the ISO 9001-2000 system of quality control. The human element is in the center of company’s attention. For these purposes the plant has also developed the OHSAS 18001-1999 that ensures operation safety of staff and equipment and guarantees the development of this mechanism.
The growth of quality and product share increases the economic indicators. In the first six months this year the Bukhara Oil Refinery has gained 72.4 billion soums of net profit. It is as more as three time compared with that of last year.
GOLDEN HILLS
Today resorts in the foot-hills of the Western Tien Shan are profitable establishments for investment in the tourist infrastructure of Uzbekistan. In recent years foreign and local companies have purchased five establishments: four resorts: “Brichmulla”, Sunny glade”, “Aktash” and “Chirchiq suvoqova” and “Dustlik” summer camp. Several pensions and health centers are in turn, Uzbekistan Today reported.
Tashkent and basic tourist centers of the country: Samarkand, Bukhara, Khiva and Urgench used to be the main center for the development of hotel industry. It does not mean that the market lacks demand for new hotels or investors do not want to invest; in last years a great number of establishments have appeared here. Undoubtedly, in near time the demand for relaxing in sparsely populated areas which have preserved their natural originality will rapidly grow. The domestic tourism operators call the increase of demand for relaxing in various parts of Uzbekistan a new record.
The Chimgan-Charvak resort recreation zone where new resorts and vacation homes grow in number is namely one of such places. The demand for services of resorts is great: their annual average loading is 70-85% and in summer and holidays 100%. This year, for instance, 70% of rooms for summer season have been sold in May.
Resorts which could not be developed for a long time were the first to get their chance of fill up the vacant niche. They began to modernize after changing their heads or managing companies. “From investment point of view it is cheaper to reconstruct a pension than build a new one because the soil relations are known and sanitation is maintained. In addition, old resorts are situated in places which are convenient for relaxation”, says Bekzod Umarov, Director-General of Asia Tour Plus.
Estimates show that investment in countryside resorts is on average US$ 120-150 thousand and it is recompensed in four or five years. (Investment in the construction of a small hotel in Tashkent is minimally as more as twice and it is recompensed approximately in eight years). In addition, if we touch upon investment in the local tourist industry, today investment in resorts of the Tashkent region is more efficient.
Over 20 years ago the Ugam-Chatkal national park and Chatkal reserve: particularly reserved areas were established in this region. Besides, Tashkent region is considered to be a center of ecological and ethnographic tourism and mountaineering. Annually around half of million of tourists from Tashkent and neighboring areas as well as foreign countries visit here.
QIZILQUMSEMENT WILL INCREASE PRODUCTION OF CEMENT UP TO 1 MILLION TONS
“Qizilqumsement” Public Corporation has begun construction of the fourth technological line which will increase production of dry cement up to 1 million tons.
At present time the company produce more than 3 million tons of cement and about 2,5 million tons clinker annually.
Products of the enterprise are exported almost to 10 foreign countries. From the beginning of 2007 “Qizilqumsement” exported production for 22 million dollars in total.
NAVOIAZOT'S OUTPUT EXCEEDS 120BN SOUMS
Since the beginning of the year, NavoiAzot has produced goods for some 120 billion soums. The enterprise's product range includes ammonium nitrate, nitrogen sulfate and ammonia water, UzA reported.
Deputy Chairman of the Board of the company, Nusrat Saliev said the company's products were being exported to a number of countries, including Russia, Iran, Pakistan and Ukraine.
NavoiAzot plans to expand the production and create about 100 new jobs by the end of the year.
SOCIETY
CELEBRATIONS OF MARGILAN CITY’S 2000TH ANNIVERSARY HELD
President of Uzbekistan Islam Karimov participated in the celebrations of the 2000th anniversary of the city of Margilan on September 7, UzA reported.
In accordance with the resolution of the head of the state of 9 November 2005 on celebration of Margilan’s jubilee, wide-scale construction works have been held in the city.
Among the newly built objects is the 10-hectare Youth Alley, which includes an aqua park and a 1400-seat amphitheatre where the celebrations were held.
Speaking to the participants of the solemn ceremony, President Islam Karimov congratulated city residents and all people of Uzbekistan with the jubilee.
Head of UNESCO office in Uzbekistan Anna Paolini passed the congratulatory message of the organization’s general director Koitiro Matsuura.
While visiting Margilan on Friday, President Karimov familiarized himself with the Said Ahmad Khoja Eshon madrassah, which was built in 1870-1875. Nowadays Margilan craftsmen center functions in the building.
Other objects visited by the President included the newly built school No.32, a 600-cubic-meter closed swimming pool and the new central market.
A number of city streets were reconstructed, and new residential buildings as well as new hotel Adras were built. New digital telephone stations were commissioned.
YOUTH, ENVIRONMENT AND SUSTAINABLE DEVELOPMENT FORUM TO BE HELD
The first national youth ecological forum of Uzbekistan "Youth, Environment and Sustainable Development" will be held on September 20-23 in Tashkent, Uzreport Business Information portal reported.
The aim of the event is to strengthen youth interaction in the environmental protection through the establishment of multilateral dialogue between youth and other sectors of civil society, the press release of the Uzbek NGOs' EcoForum Information Programme says.
Also, in the course of the event, it is planned to discuss the conservation of bio-diversity in the Republic of Uzbekistan and the rational use of water resources.
The main organizers of the event are the UNDP Environmental Protection Programme, UN Development Programme, Youth Ecological Network of Central Asia and the Eremurus Ecological Club.
The leaders of youth organizations of Uzbekistan, the representatives of state structures, public organizations, higher educational institutions and international organizations will participate in the forum. Also among other participants will be young participants of the ecological movement, specialists and experts in the field of ecology and environmental protection, as well as members of international ecological organizations.
THE ROAD TO THE LAND OF KNOWLEDGE IS OPEN
One of the most festive and long-awaited moments of little citizens’ life, the “first bell”, rang on September 3rd to beckon schoolchildren across the country into classrooms and marked the beginning of a new school year for around 500 thousand first-graders.
They are the country’s hope and generation which has taken the baton on the way toward knowledge. Their fathers and mothers, grandparents, teachers and their country as a whole which has developed during 16 years of independent life for their peaceful present and prosperous future believe in their pure, meanwhile, childish dreams. The first-grade students were greeted at a ceremonial meeting and they were presented with traditional gifts of the President of Uzbekistan, textbooks and teaching facilities.
In his report “Uzbekistan: 16 Years of Independent Development”, Islam Karimov emphasized several times that the priority direction of the state policy was the upbringing of the younger generation who was competitive, overall developed, involved in their country’s fate, self-sacrificing and having an active civil position.
Uzbekistan has developed and executed in a step-by-step fashion the Law “On education” and National Program for Personnel Training as well as the State Nationwide Program for the Development of School Education for 2004-2009. The large-scale reforms being fulfilled in the sphere of education are characterized by continuity and successiveness, and are in step with the national mentality.
This school year, over five million schoolchildren have entered bright, convenient and equipped classrooms in as many as 9777 schools of the Republic. This day, each school had a lesson on independence which traditionally opens each school year. It is a lesson on patriotism, on independent Uzbekistan, its history and love for Motherland.
This academic year has started with this lesson in 119 academic lyceums and 1069 professional colleges as well. According to the Ministry of Higher and Secondary Special Education of Uzbekistan, around 90% of secondary special educational establishments are fully equipped with modern teaching aids. These days the construction of new educational institutions is ongoing in the country. By September 1 only, at least 20 colleges and a number of academic lyceums have opened their doors. Sixty five higher educational establishments throughout the Republic have been joined by over 300 thousand students who will be majoring and gaining knowledge in around 800 specialties and disciplines.