The Times of Central Asia

April 17, 2015 

Uzbekistan's electro-technical joint stock company Uzeltechsanoat will start production of electrical home appliances of Japan's Shivaki and China's Midea brands at the Motor Plant in Tashkent, Novosti Uzbekistana (http://nuz.uz) reported.  

The investment projects worth a total of $13.7 million have been included in Uzbekistan's state program of production modernization and diversification for the period between 2015 and 2019.  

The projects are expected to launch in 2016 the production of up to 300 thousand refrigerators and up to 250 thousand gas and gas-electric stoves per year.   

This year the Motor Plant also plans to organize a logistics center of electro-technical products with a handling capacity of 200 thousand tons a year.  

According to Uzeltechsanoat, Uzbekistan's producers currently meet only 7 percent of the domestic need for home appliances. The government has tasked the domestic electro-technical industry to increase the figure up to 50-60 percent in five years.  

In April 2014 the president of Uzbekistan approved the program to develop the electro-technical industry in 2014-2018, which will implement 24 projects to build new and modernize existing productions of home appliances. As part of the program, during the next five years Uzbekistan will increase the production of TV sets 4.6-fold (up to 635 thousand), mobile phones 3.9-fold (up to a million), and refrigerators 2.5-fold (up to 600 thousand).       

In general, Uzbekistan's electro-technical industry will spend more than $153 million for building new productions of home appliances by 2019.

The World Bank

April 8, 2015 

Today the World Bank and the Government of Uzbekistan signed Loan Agreement for  a US$150 million loan provided by the IBRD to finance the Horticulture Development Project.

The Project has been designed in support of the government's five-year Industrial Modernization and Infrastructure Development Program (2011-15) cross-cutting development priorities as enhancing the competitiveness of industries, such as agro-processing and diversifying the economy and thereby reducing its reliance on a few commodity exports. 

TheProject will contribute to the World Bank twin goals to end extreme poverty and boost shared prosperity. The project will contribute to poverty reduction in the country by assisting horticulture farmers, many of whom are small and comprise the poorest, to increase their farm productivity and incomes, and fostering greater and better rural jobs through: (i) improving access to technologies, knowledge and markets; (ii) strengthening technical and managerial capacity in the farming and agri-business sectors; and (iii) introducing new financial products in the financial sector. These will bring sustained benefits to the project beneficiaries over the long-term. At the same time, the project will promote shared prosperity by supporting the growth and development of small and medium enterprises in the rural areas, creating more and better paying jobs in the agro-processing, trading and export sectors, and increasing the value added of the agricultural sector.

"Having more jobs and better paying jobs is critically important for the well-being of people living in the rural areas of Uzbekistan," said Junghun Cho, World Bank Country Manager for Uzbekistan. "The new Horticulture Development Project will help create much-needed jobs by improving access to technologies, knowledge and markets, strengthening technical and managerial capacity in the farming and agri-business sectors, and introducing new financial products in the financial sector."

The project has three components: (i) Agricultural Support Services, (ii) Access to Credit, and (iii) Project Management, and will be implemented in eight regions of Uzbekistan, namely Andijon, Jizzak, Ferghana, Kashkadarya, Karakalpakstan, Namangan, Samarkand, and Tashkent.

This is the first project in the World Bank Group portfolio in Uzbekistan where the World Bank and the International Finance Corporation (IFC) will join efforts in implementing the project.  IFC will support local food producers and processors in implementing internationally recognized food safety solutions; help companies along the agribusiness value chain to improve their competitiveness and long-term value chain sustainability; and improve capacity building of commercial banks' staff by promoting of all types of agricultural lending. It ensures access to markets for farmers-producers of supply chains.

Project will bring benefits to farmers, farmer groups, private enterprises, agro-firms, and agro-processing enterprises, involved in the country's horticultural sub-sector. Participating financial institutions (PFIs) will also benefit through improved skills and acquisition of a more diverse menu of suitably adapted financial products; and the national network of private growers through training and technical assistance. The Project will also provide support in institutional strengthening of the State Research Institutes and the plant protection services.

Uzbekistan joined the World Bank in 1992. The World Bank's mission in the country is to improve people's livelihoods through being a partner in economic reforms, supporting the modernization of the country's social sectors and infrastructure, and sharing its knowledge and experience with the government and the people of Uzbekistan. Current World Bank commitments to Uzbekistan amount to over US$1.6 billion.

UzDaily

April 17, 2015 

Ministry of Agriculture and Water Resources of Uzbekistan will modernize Andijan and Tuyamuyun hydro power stations in 2015-2019 due to own resources.

The projects will be realized within the programme of measures on ensuring structural reforms, modernization and diversification of production for 2015-2019, approved by the Uzbek President on 4 March 2015. The projects' cost is US$16 million.

Installation of modern equipment at the hydro power stations will help to increase electricity production up to 730 million KWH a year, Review.uz reported.

Till the end of 2019, the Korean consortium Hyundai Engineering & Construction and Daewoo International will modernize Tupolang waterworks facility in Surkhandarya region.

In line with the contract with Uzsuvenergo (part of the Ministry of Agriculture and Water Resources), the Korean companies will construct two energy units with capacity of 72.5 megawatts each, which will help to increase electricity generation to 430 million KWH a year.

US-Azerbaijan Chamber of Commerce

April 15, 2015 

USACC is pleased to invite you to the 1st U.S.-Azerbaijan Banking & Finance Forum. The forum will take place at the heralded Harvard Club of New York City on Tuesday, May 26, 2015.

Organized by the United States-Azerbaijan Chamber of Commerce (USACC), based in Washington, D.C., and powered by two leading regional banks, International Bank of Azerbaijan and PASHA Bank, the 1st U.S.-Azerbaijan Banking & Finance Forum will highlight the important issues that will play a major role in the expansion of U.S. - Azerbaijan banking and finance relationship. Government officials, banking leaders as well as members of the international financial community will discuss and evaluate the economic potential of the region, focus on such crucial and timely topics such as the future of banking industry in the region in light of decreased oil prices, shifts in regional dynamics and its implications on the capital marketplace, cross border finance and private equity. The aim of the forum is to raise the awareness on the issues of concern for the region and explore the opportunities for cooperation.

Welcoming Speech: Susan Sadigova, Executive Director, USACC Bill Delahunt, Co-Chairman, USACC

Keynotes: H.E. Elin Suleymanov, Ambassador, Embassy of the Republic of Azerbaijan to the United States Farid Akhundov, Chairman, PASHA Bank  Moderators: Tal Barak Harif, Top Editor, Bloomberg LP Daniel Bases, Senior Correspondent, Reuters Speakers: Zubaid Ahmad, Vice Chairman, Citigroup Rashad Hajiyev, Deputy Chairman/CFO, International Bank of Azerbaijan Brian A. Ruane, Executive Vise President, BNY Mellon Taleh Kazimov, CEO Designate, PASHA Bank Rupert Scofield, President & CEO, FINCA International James Hogan, Managing Partner, Dentons Michael Lally, Executive Deputy Assistant Secretary, U.S. Department of Commerce Christian Mulder, Senior Manager, The World Bank Treasury

More speakers to be announced.

We hope you will join us for this one-of-a-kind opportunity to learn more about Azerbaijan and the region, meet key business leaders, fund managers and government officials from both countries and forge new partnerships for your business.

For sponsorship opportunities please contact us at chamber@usacc.org or 202-333-8702.

Visit Website & Register

AUCC

April 17, 2015