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Uzagroexpo 2011 exhibition opens
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November 24, 2011
The seventh international exhibition of
agricultural and food products, equipment and services Uzagroexpo
2011 opened at the Uzexpocenter in Tashkent.
It has been organized by the Ministry of Agriculture and Water
Management of Uzbekistan in cooperation with the Chamber of
Commerce, Associations of Farmers, and Fat and Food Processing
Industry and the IEG Uzbekistan exhibition company. |
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At the exhibition, products and services of 60 companies from countries
like Uzbekistan, China, Belarus, Germany, South Korea, Italy, Ukraine,
Kazakhstan, Russia and France are presented. 65% of the participants are
foreign companies.
Among the domestic exhibitors are companies Imkon-Sut Fayz,
InTechService, AgroMashHolding-Tashkent, Tashkent Tractor Plant, Virtex
Agro and others.
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The exhibition consists of three sections, which are
devoted to new products in agriculture, veterinary services,
agricultural machinery and equipment.
In the food section of the exhibition, together technologies for the
industry, equipment for storing and processing fruit and vegetables,
vegetable oil production are presented. Of particular interest are
companies Muzimpex, Dovon and others. |
The Uzagroexpo exhibition organizers believe it will strengthen
cooperation between the farmers and the manufacturers, and contribute to
the development of the agricultural sector in the country.
www.uza.uz
New
business centers open in Andijan
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November 23, 2011
The Business Support Center and the International
Business Center “Hamkor” opened in Andijan.
The Business Support Center was set up to provide assistance to
entrepreneurs, Elyorbek Ahmedov, acting head of the regional
department of the Commerce and Industry Chamber, said.
“We hope the center will help expand the range of services, expand
their volume and improve their quality,” he stressed. |
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The center has a special data kiosk, which contains information on
various aspects of running a business, equipment and mini technologies.
International Business Center “Hamkor” consists of offices, a conference
hall, a learning center, a hotel, a restaurant, a bank branch, a cinema
hall and various stores.
“The center aims to support the developmentof the small business and
private entrepreneurship,” chairman of Hamkorbank Ikromjon Ibragimov
said.
One of the first events held at the center was a conference on expansion
of the industrial potential of the small businesses in the region.
www.uza.uz
Losgigantes
Textile JV opens in Ferghana region
November 14, 2011
Losgigantes Textile company started operating in Buvayda district of
Ferghana region. It processes cotton fibre and produces high quality
yarn and towels.
“Our enterprise processes up to 7 tons of fibre per day,” Losgigantes
Textile director Adhamjon Khasanov said. “The first batch of production
was exported to Russia and Turkey.”
About 100 people have been employed by the new joint venture, he added.
Since the start of 2011, almost 50 investment projects were implemented
in Ferghana region and 11 new enterprises were launched.
www.uza.uz
Grants allocated
to NGOs
October 18, 2011
The Parliamentary Commission for managing the funds of the Public fund
for support of NGOs and other civil society institutions under Oliy
Majlis of Uzbekistan held a session to consider the results of two grant
competitions announced in 2011, and issues of implementation of social
projects.
The commission made a decision to support 46 projects of NGOs and other
civil society institutions in each of the two grants worth a total of
UZS 650 million.
The commission was established on the initiative of President to ensure
open, transparent, targeted and democratic distribution of funds
allocated from the state budget for the development of non-government
organizations.
To this year’s contest, announced within the State program “Year of
small business and private entrepreneurship”, about 90 NGOs and other
civil society institutions presented their projects. They cover areas
like small business and entrepreneurship development, encouragement of
innovative technologies in the production, creation of new jobs in rural
areas and others.
The second grant competition, announced for projects aimed at upbringing
harmoniously developed and independently thinking generation, received
100 applications. They reflect problems of modern professional training
and employment of the young people, support of young families, and
promoting healthy lifestyle.
www.uza.uz
Refrigerated
storehouse launched in Surkhandarya
October 05, 2011
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A new refrigerated storehouse with the capacity
of 3,000 tons was built in Termez district of Surkhandarya region by
Uni Green LLC.
The storehouse is one of the first to be created in accordance with
the Cabinet of Ministers’ April 2011 resolution on strengthening the
logistical base for storage of fruit and vegetables, designed for
2011-2015.
A total of about 10 refrigerated storehouses of various capacity
will be built in the region in the mentioned period. |
According to general director of Uni Green“Mavlon Choriyev, the products
received by the storehouse are initially automatically sorted, then
packed in special containers.
At present, the company is accepting apples and grapes for winter
storage, later other fruits like persimmons and pomegranates will begin
to arrive.
Part of the stored fruit will be sold to the population during the
winter season at affordable prices, and another part will be exported,
he added.
www.uza.uz
Range of
local products expands
September 13, 2011
At the initiative of President Islam Karimov, the announcement of
this year the “Year of a small business and entrepreneurship,” as well
as consistent implementation of adopted state program have produced good
results in the further development of entrepreneurship in Uzbekistan,
expanding the range of products, improving quality and increasing the
volume and creating new jobs.
Achievement of Romitan Akfa Lux LLC can serve as an example of the
abovementioned program. This company, which until now had been producing
doors and frames of various kinds, expanded its range of products and
increased production volume. Moreover, it’s arranged the production of
knitwear.
“Using our own funds and loans, allocated by Ramitan branch of
Microcreditbank, we acquired an additional building, bought modern
equipment and sewing machines,” said the director of the company Anvar
Azimov. “This has improved product quality, increasing the volume of
production, launching sewing shop, able to annually produce more than
8,000 pieces of men’s suits, trousers and overalls.”
At present, about 10 people are enrolled at the sewing shop. Five of
them graduated vocational colleges this year.
“This year I graduated from Ramitan college of professional public
service,” said Fazilat Juraeva. “Here, I learned a lot from working
experienced seamstresses. I am very glad that I now have a permanent job
and a stable source of income.”
www.uza.uz
Share of small businesses in Uzbekistan’s GDP hits 42.2% in 1H 2011
August 19, 2011
In January-June 2011, the realization of measures of the State program
“Year of Small Business and Private Entrepreneurship” stimulated the
creation of 22,800 new small business enterprises (excluding private
farms) in Uzbekistan, the State Statistics Committee said.
In the reporting period, the share of small business in the total volume
of GDP of Uzbekistan reached 42.2%, which is 1.1 percentage points more
than in January-June 2010. The share of small enterprises and microfirms
in GDP in January-June 2011 was 25.7% versus 25% in January-June 2010.
In January-June of the current year small business entities provided
jobs to 8.784 million persons (74.5% of total persons employed in the
economy), including 6.316 million persons employed by the individual
sector and 2.468 million persons by small enterprises and microfirms.
The number of persons engaged in the private sector of small business
was 7.977 million or 90.8% of total employment in the sphere of small
business.
Small businesses produced industrial products for 3.583 trillion soums
(August 19, 2011. 1 USD = 1731,36 UZS) (18.6% of total industrial
production of Uzbekistan in the reporting period), which grew by 20.4%
year-on-year.
The sector utilized 2.499 trillion soums of investments (30.3% of total
utilized investments in Uzbekistan) or grew by 26.6% year-on-year.
Small businesses executed construction works for 3.067 trillion soums
(70% of total construction works), which increased by 51.5%
year-on-year.
The sector ensured the growth of freight turnover of motor transport by
6.6% (75.4% of total freight turnover) and passenger turnover by 8.9%
(84.9% of total passenger turnover).
They formed 49.2% (5.902 trillion soums) of total retail trade turnover
(+15.4%), 41.8% (1.887 trillion soums) of total paid services (+12.6%).
Small enterprises exported goods for US$955 million (13.2% of total
exports of Uzbekistan), which grew by 45.1% year-on-year, and imported
goods for US$1.743 billion (36.1% of total imports of Uzbekistan), or
grew by21.6% year-on-year.
www.UzDaily.com
Uzbekneftegaz registers agreements with 1,530 small businesses
August 16, 2011
In pursuance of the Resolution of the President of Uzbekistan dated 7
February 2011 titled "On state program "Year of Small Business and
Private Entrepreneurship", Uzbekneftegaz developed the Branch program.
To provide enterprises of small business and private entrepreneurship
with natural gas, Uztransgaz (Uzbek transportation gas) JSC issued an
order dated 28 February 2011 under No.143 titled "On measures to provide
uninterrupted supply of natural gas to subjects of small business and
private entrepreneurship".
In the first half of 2011 gas providers of the company made agreements
with 1,530 subjects of small business and private entrepreneurship.
Totally, natural gas was provided in the volume of 16 million cubic
meters, 1,258 technical specifications were issued.
Uzneftegazdobicha (Uzbek oil and gas extraction) provided 35,000 tons of
polyethylene and over 109,000 tons of liquefied gas through Uzbekistan
Commodity Exchange (UzCE) to subjects of small business and private
entrepreneurship.
Uznefteprodukt (Uzbek oil and gas product) made agreements and provided
petroleum and diesel to subjects of small business and private
entrepreneurship.
UzReport
Mette Kongshem: Small Business Engine of National Economy
July 29, 2011
Director of the Norwegian company of Eurasia – Research & Strategy, a
former Norwegian Ambassador to the Republic of Uzbekistan Mette Kongshem
has shared her vision of the successes of Uzbekistan in the way of
building an open society.
Uzbekistan is a geo-strategically important country in Central Asia, and
represents a bridge between the North and the South, the East and then
West. The open society, deeper integration into the international trade
and economic system, and human capacity-building formed a basis for
long-term political stability and further economic development. A
gradual transition to market economies contributed to limiting the
impact of the global financial crisis on Uzbekistan’s economy.
Prudent fiscal and monetary policies have improved macroeconomic
fundamentals of the country.
It is important to note that good governance is a vital
element in ensuring a stable economy, attracting foreign investments and
promoting social integration and stability.
I commend the initiative of the Uzbek President Islam Karimov to declare
2011 the Year of Small Business and Private Entrepreneurship. Small
businesses are engines of an economy and create new jobs. And accented
attention to increase of industrial production and high-tech projects in
the sectors of production will only serve to deepen social and economic
reforms.
On the question of the measures taken by the Uzbek Government to
diversify the economy and investment projects a creation of Navoi Free
Industrial and Economic Zone should be emphasized.
Exports in the Navoi region increased by 11.1% in 2010,
and more than 200 projects were implemented under the program of
industrial development. I am convinced that this project will enhance
the opportunities and the national wealth.
UT News Agency
Exhibition devoted
to businesswomen opens
July 27, 2011
An exhibition titled “Enterprising businesswomen of independent country”
opened at the Exhibition hall of culture and arts of Uzbekistan in
Tashkent.
The exhibition, devoted to the 20th anniversary of independence of
Uzbekistan, has been organized by the National NGOs Association jointly
with the Women’s Committee, Tashkent city administration, “Tadbirkor va
Ishbilarmon Ayollar” association and other organizations.
At the event, products made by female entrepreneurs, home workers and
craftswomen of Tashkent city and Tashkent region are demonstrated.
The purpose of the exhibition is to create conditions for exchange of
experience of women engaged in small business and entrepreneurship,
family business and home work, as well as expand social partnership
between the government agencies and community organizations.
One of the youngest participants of the exhibition is Sevara
Khudoyberganova, director of a private enterprise Sevara Unique. She
graduated from Tashkent professional college of commerce this year.
Her business project was highly evaluated at the Tashkent city stage of
the national contest of young entrepreneurs and the contest “My business
idea”.
The Sevara Unique company manufactures confectionery and cheese
products, as well as national clothes. At present, more than 15 young
people are working at the enterprise.
Non-governmental non-commercial organization Opa-singillar (Sisters)
operates in Kibray district of Tashkent region. According to the NGO
specialist Laylo Kubeyeva, it deals with professional training,
improving skills and qualification of people from families in need of
social support, especially women and youth, providing them with job on
the basis of outworking.
Thanks to this NGO, currently more than 50 women of various age are
currently working from home. They produce national and children’s
clothes, as well as various household items.
www.uza.uz
New clothing
company opens in Bukhara region
July 21, 2011
In accordance with the State program “Year of small business and private
entrepreneurship” a new sewing company was commissioned in Nakkosh
village of Shafirkan district.
With financial assistance of Bukhara regional branch of the National
Bank for Foreign Economic Activity of Uzbekistan, the enterprise was
equipped with modern sewing machines, and procured a stock of raw
materials.
The company specializes in producing children’s clothes. Currently,
production is supplied to the domestic market. Future plans of the
company include export of products abroad.
The new company employed about 40 young people, mostly graduates of
professional colleges. By the end of the year, it is planned to increase
the number of employees to 100 people.
www.uza.uz
Parliament’s chambers hold joint session
July 18, 2011
The joint session of the Senate and the Legislative Chamber of the Oliy
Majlis of Uzbekistan was held on 15 July.
The meeting considered the implementation of the Program of measures
taken by the government to deepen democratic market reforms and
liberalize the economic, as well as realize the State program “Year of
small business and private entrepreneurship”. Prime Minister of the
Republic of Uzbekistan Shavkat Mirziyoyev made a report on the topic.
This session was held in the framework of implementation of the Law “On
introducing amendments and addenda to certain articles of the
Constitution (articles 78, 80, 93, 96 and 98)”. The law was adopted in
accordance with the Concept of deepening democratic reforms and
formation of civil society in the country, presented by President Islam
Karimov in his report at the joint session of chambers of Oliy Majlis in
November 2010.
The amendments made to the Constitution give the Oliy Majlis the right
to hear reports of the Prime Minister on topical issues of socioeconomic
development of the country. The joint meeting of the Legislative Chamber
and the Senate, as noted by its participants, was the first step in
implementing the provisions of the law, becoming an important factor in
improving parliamentary control over the activities of the executive
authorities on central and local levels, further development of checks
and balances mechanism in the government, and enhancing the role of
parliament in democratic socioeconomic reforms.
At the session, it was stressed that the government was conducting
consistent work to implement the Concept in regard to deepening
democratic reforms and economic liberalization. In particular, in the
first half of 2011 draft laws “On exchange of credit information”, “On
competition” and “On licensing procedures in the field of
entrepreneurship” and others were developed and submitted to the
parliament. They all address the tasks posed in the Concept to
democratize the system of management, eliminate unnecessary barriers to
entrepreneurial activity, improve the antitrust laws, promote the active
participation of the banking and financial systems in the investment
process, and further the country’s progress towards a free market
economy.
As a result of implementing the State program “Year of small business
and private entrepreneurship”, approved by the President, and other acts
of legislation, only in the first half of 2011 more than 22,8000 small
business entities were registered. Subjects of small business and
private entrepreneurship created 331,200 new jobs. The industrial
production volume of small businesses increased by 20.4 percent, while
exports and sales of own products through exchanges grew 1.5 times.
In the first half of 2011, the volume of lending by commercial banks of
the real sector increased by 38 percent, including small businesses and
entrepreneurial – 1.5 times. Only in the second quarter of this year,
the amount of government purchases from small businesses made up UZS
44.6 billion, or 89 percent of the total purchases carried out via
electronic trading.
At the same time, during an open dialogue and constructive exchange of
views, the senators and deputies made a number of comments and
suggestions to further improve the efficiency of work of the government
and the state management bodies, aimed at solving the tasks of deepening
market reforms and developing small businesses and private
entrepreneurship.
The members of the parliament highlighted the importance of full
implementation of resolutions of the President to reduce checks of the
business entities, improve the control over the work of the small
business, prevent unlawful interference in their activities, simplify
the process of organization and conduction of entrepreneurial activity,
increase the participation of small businesses in public procurement and
their access to highly liquid products.
They highlighted the need to continue the work to increase the consumer
demand in the country as an important factor in ensuring stable economic
growth, turning the small business into the main source of income and
improvement of living standards, as well as implement the measures
foreseen by the Anti-crisis program, deepening social partnership with
civil society institutes in realizing the state programs of
socioeconomic development in the regions.
A particular attention was drawn to the need to strengthen the
government’s achievement of forecast parameters job creation and
employment for 2011, and employment of graduates of professional
colleges in accordance with their specialties.
The session participants also stressed the need to improve the
legislative, control and analytical activities of the parliament’s
chambers, their role in ensuring the rule of law, improving law using
practice in government operations on central and local levels as the
most important condition for realization of socioeconomic reforms.
Following the discussion of the government’s report, a joint decree of
the Senate and the Legislative Chamber of the Oliy Majlis was passed,
which identified a set of measures aimed at fulfillment of the tasks to
deepen the democratic market reforms and economic liberalization, as
well as provisions of the State program “Year of small business and
private entrepreneurship”.
www.uza.uz
Continuing traditions of dynasty
July 07, 2011
National handicraft has been developing in Margilan
since ancient times. The local masters are especially known for
their silk fabrics.
One of the masters Rasuljon Mirzaahmedov of Margilan, significantly
contributing to the development of national crafts, is continuing
the traditions of his dynasty. He revives and improves the
production of several kinds of silk and adras. |
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He teaches the ancient methods of dyeing cloth to the young people in
the workshop of the National Handicrafts Centre. He has participated in
the exhibitions in Japan, Germany, USA and other countries with his
products.
www.uza.uz
Most
active outworker competition held in Fergana region
July 06, 2011
The final stage of the competition “The most active outworker” was held
in Fergana region.
The contest, organized in cooperation with the regional association of
trade unions, women’s committee and the Department of Labor and Social
Welfare, was attended by 18 female outworkers, who won in city and
district stages.
In Uzbekistan, particular attention is paid to participation of women in
society and their employment. The practical results in this direction
contribute to development of work from home.
Decree of President Islam Karimov “On measures to stimulate the
expansion of cooperation between large industrial enterprises and
production services on the basis of work at home” dated 5 January of
2006 is an important legal basis for ongoing work in this direction.
Today, more than 12 thousand women are employed as outworkers at over
100 large and small industrial enterprises and private firms. Over the
past six months of 2011, small business and entrepreneurship created
4,500 new jobs in this area, of which 70% are women. Under orders of
businesses, they make a variety of components and semi-finished products
at home.
Each year, the importance of the competition “The most active outworker”
conducted with the aim of social protection and promotion of domestic
workers, is increasinng. The success of working from home for
enterprises is shared and conditions for the workers of this form of
labor are discussed at the competition.
“Under the leadership of President Islam Karimov a great attention is
given to women to realize their abilities and potential,” said the head
of the regional Department of Labor and Social Welfare Faizullo Kasimov.
“The work held in this direction motivates our women who seek to benefit
both family and society.”
At the contest participants spoke about the basics of home work, its
role in raising household incomes. They have demonstrated their
knowledge of the legal aspects of entrepreneurship, as well as the
benefits granted to women outworkers. An exhibition of products was
organized within the contest.
Outworker of Fergana oil refinary Mahliyo Umarova was recognized as the
winner of the competition.
www.uza.uz
Gallery:
Farmers of Uzbekistan
June 13, 2011
Wide-scale reforms implemented in the agricultural sector of Uzbekistan
under the leadership of President Islam Karimov have served to the
formation of the new class of owners in rural areas and increase of the
agricultural production volumes.
The farmers of Uzbekistan are nowadays supplying quality produce to both
local and external markets. They contribute to creation of new
enterprises in the regions, raising the employment level and improvement
of the living standards in the villages.
www.uza.uz
Best entrepreneurs of Uzbekistan awarded
March 31, 2011
The final stage of the republican contest Tashabbus 2011 for the prize
of the President of Uzbekistan was held at the Turkiston palace in
Tashkent.
The traditional contest among entrepreneurs, farmers and craftsmen was
organized by the Commerce and Industry Chamber in collaboration with the
Farms Association and the Hunarmand craftsmen association.
An exhibition of Tashabbus winners’ products was also organized within
the event.
The process of selection of the contest winners has shown that
entrepreneurs are effectively acquiring modern management methods, and
the small business is actively developing in the country.
The current year has been proclaimed the Year of small business and
private entrepreneurship, and a package of measures aimed at providing
additional opportunities for entrepreneurs has been developed.
The share of the small and private business in the GDP and its role in
economic development has been increasing from year to year.
If in 2000, the share of sector accounted for about 31% of GDP, in 2010
the figure made up 52.5%. Over 77% of the total employed population of
the country currently works in the small business and private
entrepreneurship sector.
According to chairman of the Commerce and Industry Chamber Alisher
Shaykhov, over 6,400 entrepreneurs, farmers and craftsmen participated
in this year’s contest. 41 winners of the regional stages competed at
the final stage in the capital.
The best entrepreneur” title went to Bakhtiyor Umarov, head of Zamin
Turkiston LLC, Namangan region. Nosir Turakulov of Surkhandarya region
became “The best farmer”. Potter Sharif Azimov from Samarkand region was
named “The best craftsman”.
The three first prize winners were awarded with gold medals and prizes
of the President – Chevrolet Spark cars.
Second place winners received silver medals and UZS 6 million each,
while third place winners got bronze medals and UZS 4 million.
www.uza.uz
UzBuild and MebelExpo Uzbekistan open
March 15, 2011
Two international exhibitions UzBuild-2011 and
MebelExpo Uzbekistan opened at national exhibition complex Uzexpocenter
in Tashkent on 15 March.
The events have been organized by the
international exhibition company ITE Uzbekistan and its foreign partners
with support of the Ministry for foreign economic relations, investments
and trade, State committee for architecture and construction,
Uzkommunkhizmat agency, Tashkent city administration, Commerce and
industry chamber and other structures.
The traditional UzBuild fair gathered
representatives of the national and foreign market of construction
materials, technologies and solutions.
130 companies from 16 countries are
participating in this year’s exhibition. 23% of the participants
represent local business.
The sections of the exhibition include heating
and ventilation, construction materials and equipment, electrical
instruments, interior and design, landscape and others.
MebelExpo Uzbekistan, which features furniture
and accessories, this year has about 40 participants from 13 states.
The sections of the exhibition include
equipment and parts, materials for furniture production and ready
furniture sets. The larger share of the furniture exposition is occupied
by the local producers.
www.uza.uz
Draft
law on competition discussed
March 16, 2011
The Legislative Chamber
Committee for budget and economic reforms jointly with the State
committee for demonopolization and competition development held a
seminar on the priority directions and legislative bases of the
competitive policies.
Deputies, officials from
ministries and departments, as well as representatives of the monopoly
enterprises discussed the issues of improvement of the legislation and
development of competition on the commodity markets, as well as the
draft law “On competition”.
The proposal to develop this
new law was made by President Islam Karimov in his 12 November speech on
the Concept of further deepening of democratic reforms and formation of
the civil society in the country.
The adoption of the law on
competition will lead to improvement of legal regulation of relations
and prevention of monopolistic activities on the commodities markets.
The law will replace the old
law on competition and limitation of monopolistic activities, which does
not correspond to the present level of development of the economy of
Uzbekistan.
According to seminar
participants, the level of monopolization has significantly decreased
over the past years on the commodities and services markets, thanks to
effective competitive policy implemented by the state.
The number of monopoly
enterprises has been reduced by 75% during the last 10 years.
Between 2004 and 2009, the
share of monopolistic products in the total GDP of Uzbekistan decreased
from 26% to 20.8%.
www.uza.uz
Regional stage of contest for entrepreneurs held in Aral Sea area
February 28, 2011
The regional stage of the competition among
entrepreneurs and artisans Tashabbus-2011 (Initiative-2011) for the
prize of the President of the Republic of Uzbekistan was held in
Karakalpakstan.
The contest was held to help for development of
small and private business, support of farmers’ movement. It also
focused on the activities of entrepreneurs, who produce substituting
products.
In Kanlikul district, more than 20 participants
presented their products in the nomination of “Best Entrepreneur of the
Year.” The head of a private firm S. Bisenov won the first place in that
category.
The head of “Abdullaev Daryoboy” farm D.
Abdullaev won in the nomination of “Best Farmer of the Year.”
“Founded in 2005, our farm is engaged in the
cultivation of cotton and wheat,” D. Abdullaev said. “Last year, we
received 100 tons of grain from the 32 of our 163 hectares, and 65 tons
of cotton from 25 hectares.”
The works of 16 artisans, household items,
carvings, Karakalpak national costumes, embroidery and carpets competed
in the nomination of the “Best Craftsman of the Year.” Entrepreneur
Jadira Kudaybergenova won the first place in that category.
www.uza.uz
Universalbank: 2010
results and prospects
February 23, 2011
Private open joint-stock commercial
Universalbank announced the results of 2010. The bank’s aggregate
capital made up UZS 13.5 billion, increasing by 44.7 percent against
2009.
The authorized capital made up UZS 11.3
billion, which is a 97.3 percent increase year on year. The bank’s
assets reached UZS 33.8 billion, having grown by 28 percent.
The bank issued loans worth UZS 10.3 billion
last year, which is an increase of 19.8 percent.
Universalbank carried out a huge work in 2010
to attract the funds to the bank deposits. Theie volume increased by
14.1 percent during the year and reached UZS 3.15 billion.
Having taken the course to support and develop
small and private business, as well as rural housing, Universalbank
ensured growth in such areas as microcredits and mortgage lending to UZS
375.7 million and UZS 363.6 million respectively. Credits extended to
small businesses accounted for UZS 12.8 billion.
Universalbank was founded in May 2002. Its main
clients are small businesses and private entrepreneurs. Universalbank is
a member of the Deposit Guarantee Fund, which means the state guarantees
100-percent return of the funds.
Since mid-2010, Universalbank began a
large-scale restructuring aimed at strengthening corporate governance
and control of operational risk, as well as increasing the market share.
The team of skilled professionals provides additional impetus for
further improvement of the banking institution.
Total restructuring of the bank is carried out
in order to implement the resolution of the President of Uzbekistan “On
priority directions of further reforming and improving the stability of
the financial and banking system of the republic in 2011-2015 and
achieving high international rating indicators” signed on 26 November
2010.
This work meets the goals and objectives stated
in the report of the President Islam Karimov at the solemn meeting
dedicated to the 18th anniversary of the Constitution, where 2011 was
declared the Year of Small Business and Private Entrepreneurship.
Universalbank is among the banks that are
directly involved in servicing this segment of the economy. The
development strategy of the bank is focused on further improving the
quality of variety of banking services to representatives of domestic
business.
In the past year, the bank introduced several
types of deposit products, bringing their number to 22 (19 in national
currency and 3 in foreign currency). As part of the program of
development of cashless payments among the population, the bank issued
more than 7,500 soum plastic cards as of the end of 2010.
Over the last year, the number of customers
exceeded 17,000, having increased by 13.9 percent. It is worth noting
that the share of enterprises with foreign investment in the structure
of the bank’s customer base increased by 47 percent.
The corporate governance at Universalbank has
significantly improved. The bank has been introducing the advanced risk
management system. In 2011, introduction of the call-center and launch
of the new website are planned.
The bank intends to expand its branch network
in order to diversify its geographical operations. In 2011,
Universalbank is preparing a broad range of products for retail and
corporate customers, and is planning a restyling of its brand.
In general, the increase of the capital, more
rigorous monitoring, improved quality of loans and introduction of new
innovative banking products will allow the bank to strengthen its market
position and increase its credit potential, contributing to the growth
of the country’s economy.
www.uza.uz
Small business
and entrepreneurship developing
February 18, 2011
More than 300 new entrepreneurship entities were
registered in Yuqorichirchiq district of Tashkent region in 2010. Their
total number now is over 1,000.
The commercial banks issued credits worth more than UZS 3.3 billion to
these entrepreneurs. USD 6.2 million worth of investments was attracted
last year.
The proclamation of the year 2011 as the Year of Small Business and
Private Entrepreneurship is expected to open new opportunities for the
businessmen.
A number of enterprises were launched this year already, Mamurjon
Urmonov, head of the district’s entrepreneurship entities registration
inspection, said.
www.uza.uz
Contest to identify best entrepreneurs
February 17, 2011
The organizing committee of the Tashabbus-2011
(Initiative-2011) nationwide contest held its first meeting in Tashkent.
The annual event is being organized in accordance with the President’s
decree of 5 January 1995 on stimulating private entrepreneurship.
The Tashabbus contest is considered one of the instruments of
implementing the program of supporting and developing small business and
entrepreneurship. The main organizer of the contest if the Commerce and
Industry Chamber, supported by the Farms Association and the Hunarmand
craftsmen association.
The contest will be held on the district, city and regional levels, and
finish at the final stage in Tashkent.
The chairman of the Commerce and Industry Chamber Alisher Shaykhov said
the number of contest participants had been increasing from year to
year.
This year, the main focus of the contest will be development of
production and expansion of exports.
The contest nominations include the best entrepreneurs, the best farmer,
and the best craftsman. Special nominations are the youngest
entrepreneur, the best woman entrepreneur, the best innovative project,
the best employer, the best family business owner and the best business
idea.
The particular importance of this year’s Tashabbus is that it is being
held in the Year of Small Business and Private Entrepreneurship.
The first prize winners will receive Chevrolet Spark cars.
www.uza.uz
1.3 million
tourists visit Uzbekistan in 2010
February 04, 2011
More than 1.3 million tourists visited Uzbekistan
last year, which is 6.9% more than during the previous year,
Uzbektourism national company said at a meeting in Tashkent.
According to the company chairman R.Mirzayev, tourists from various
countries are attracted by the ancient architectural monuments and
beautiful nature of Uzbekistan.
Over the past years, many modern hotels have been built, and the tourism
infrastructure has been developing in the country.
To increase the flow of tourists, Uzbektourism is implementing measures
to improve the infrastructure and quality of service, including training
new specialists, and to expand promotion of Uzbekistan’s tourism
potential abroad.
Specialists believe proclamation of the year 2011 as the Year of small
business in Uzbekistan will serve to increasing the share of the private
sector in tourism and attract new investments into the sector.
www.uza.uz
Women entrepreneurs receive microcredits
February 02, 2011
The winners of the project “Raising economic and
social status of women through support in implementing innovative
business ideas” were awarded in Tashkent.
The project is run by the republican public organization Women’s Council
in cooperation with the National Association of Microfinancing
Organizations, Mehr Nuri charity fund and other entities.
The goal of the scheme is to promote entrepreneurship among women and
provide them with consultative and legal aid.
The contest identified the best ideas, initiatives and business plans in
directions like agriculture, industrial and textile production, national
craftsmanship, social and trade service, public catering and others.
A total of 28 winners of the project received certificates for
microcredits worth UZS 183 million in general.
www.uza.uz
Tashkent’s
economy grows 12.4%
January 31, 2011
The gross regional product of the city of Tashkent
increased by 12.4% in 2010 thanks to the successful implementation of
the anti-crisis program.
Industrial production grew by 16.4%, consumer goods production by 10%,
construction works by 17.1%, services by 17.2%.
Exports increased by 44.5% during the year. Foreign direct investments
worth USD 24 million were attracted.
In the framework of the localization program, production of almost 10
new products were launched, including steel wire, parts for cars and
buses, medicaments and others.
The share of small business in the city’s GRP made up 49.9%, in industry
39%, in construction 45.8%. 57% of all employed are working in the small
business sector.
Over the 12 months, almost 80,500 new workplaces were created in the
capital due to opening of new industrial enterprises, expansion of the
existing ones, development of small and family business.
www.uza.uz
Young
entrepreneurs’ forum held
January 31, 2011
The forum of young entrepreneurs was held in
Tashkent by the Fund “Forum of Culture and Art of Uzbekistan”, “Kelajak
Ovozi” youth initiatives center, Commerce and Industry Chamber, National
Microfinancing Organizations and Credit Unions Association, Trade Unions
Federation and the British Council.
The main goal of the forum was to assist graduates of universities and
professional colleges in setting up their own business and establishing
contacts with banks, insurance companies, state bodies, experts and
scientists.
The topics covered by the forum included preferences for small
businesses, legal support, insurance and other issues.
The participants also discussed measures to improve the efficiency of
projects aimed at supporting small businesses.
www.uza.uz
Gallery: Small business contributes to economic development
January 21, 2011
In the years of independence, small business and
private entrepreneurship have really become the basis of the economy of
Uzbekistan.
Wide opportunities of private ownership are reflected in the
establishment of industrial production in rural areas, development of
enterprises, filling domestic market with quality and competitive
products, improvement of the service sector, and increasing employment
and welfare.
The announcement of 2011 as the Year of small business and
entrepreneurship by the President of Uzbekistan has opened opportunities
for further expansion of activities in this direction.
Today, over 74% of Uzbekistan’s population are employed by small and
private businesses.
The state is focusing its atention on the development of private sector,
and providing benefits and incentives for its free activity.
The entrepreneurs of the country are making a worthy contribution to the
improvement of the look of Uzbek towns and villages, and the welfare of
the people.
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