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June 24, 2014


June 24, 2014


Legislative Chamber considers state budget execution. 2


National specialized company QurilishMashLeasing established in Uzbekistan. 3


Urgench Airport named as the Best airport in CIS states. 4

Innovation.. 4

Uzbekistan creates Pledge Registrar Enterprise. 4




Press-service of MFA of the Republic of Uzbekistan


Legislative Chamber considers state budget execution

Legislative Chamber of Oliy Majlis of Uzbekistan considered execution of the state budget in 2013 and in the first quarter of 2014 at its session on 20 June 2014, the press service of the chamber said.

First Deputy Prime Minister and Finance Minister Rustam Azimov presented a report of the Cabinet of Ministers on the execution of the state budget in 2013.

It was underlined that Uzbekistan’s economy grew by 8% in 2013, industrial production – 8.8%, agriculture production – 6.8%, and retail trade turnover – 14.8%.

Implementation of the programme on priorities of development of industry for 2011-2015 and sectoral progammes for modernization and re-equipment of enterprises helped to increase production of competitive products with high added value. Currently, these industries produce over 78% of industrial production.

Over 970,000 people were provided jobs in 2013, of which over 60% were created in rural areas. About 480,000 jobs were created due to small businesses, microfirms and individual entrepreneurship.

The real income of population increased by 16% in 2013, average salary of employees of budget organizations, pensions, social allowances, and stipends – 20.8%. About 58.7% of budget expenses were directed to social sector and social support of population. Significant funds were used to education, healthcare, science, culture, sports and mass media. It was said that number of cars per 100 families now makes up 41.4 compared to 20 in 2000.

During the discussion, members of all political parties and MPs Group of Ecological Movement of Uzbekistan presented the views on the report.

MPs from Liberal-Democratic Party of Uzbekistan (UzLiDeP) underlined that role of the small businesses is increasing in Uzbekistan. Over 26,000 new small businesses were created in Uzbekistan in 2013 and the share of small businesses in Uzbekistan’s GDP rose from 31% in 2000 to 55.8% in 2010.

UzLiDeP members underlined that about 23% of industrial products are produced by small businesses. Over 18% of exports also fell to share of small businesses.

People’s Democratic Party of Uzbekistan underlined that the income of population rose in 2013. The party raised its concerns over illegal and untargeted use of budget resources. The party called to improve responsibility of the state bodies on efficient and targeted use of budget resources and control over execution of the budget parameters.

Faction of Democratic Party of Uzbekistan Milliy Tiklanish said that income part of the state budget was executed fully. At the same time, the party called to ensure execution of tax laws by the businesses and increase income part of local budget in places, improve inter-budget relations. They called to improve business climate for rational use of production and resource potential , high technological production capacities, production of goods from fruits and vegetables, etc.

Social-Democratic Party Adolat said that macroeconomic balance was kept in 2013. The budget allocated 164.7 billion soums to science in 2013. The party noted that the economy should be developed with use of innovations and raise scientific-technical potential of the country.

Members of Ecologic Movement of Uzbekistan said that the state budget also focused on protection of environment and health of population. They noted that Uzbekistan carries out targeted work on improving environment protection and rational use of natural resources.

It said that the state budget issued 122.8 billion soums to environment protection, which rose by 1.47 times compared to 2012. Over 177 billion soums (Currency rates of CB from 16.06.2014  1$=2308.39 soums). were issued to improve water supply system for population in 2013, which rose 1.61 times compared to 2012.

The parliament approved the report of the execution of the State budget of Uzbekistan for 2013 and adopted corresponding resolution.

In the second half of the day, MPs discussed the execution of the state budget of Uzbekistan in the first quarter of 2014.

It was said that the state budget was executed with surplus as approved by the Uzbek parliament. In the first three months of 2014, Uzbekistan’s GDP increased by 7.5%, agriculture production – 6.2%, industrial output – 8.9% and retail trade turnover – 14.3%.


In the reporting period, over 227,900 new jobs were created in Uzbekistan, of which 137,000 were created in rural areas.

After the discussion, the parliament approved the report of the execution of the State budget of Uzbekistan in the first quarter of 2014 and adopted corresponding resolution.




National specialized company QurilishMashLeasing established in Uzbekistan

On June 18, 2014 was adopted the Presidential Resolution “On establishment of the QurilishMashLeasing National Specialized Company”.

The document was adopted for the further development of leasing services in the construction sector, strengthening technical base of construction companies through equipping them with modern construction equipment, vehicles and machinery, rigging and special transport.

According to the Resolution, QurilishMashLeasing leasing company shall be created in the form of a joint stock company with authorized capital of 22.0 billion soums (Currency rates of CB from 16.06.2014  1$=2308.39 soums).

The founders of the company are the Ministry of Finance with a share in the authorized capital of 45.45%. The National Bank for Foreign Economic Activities, Asaka Bank, UzPromStroyBank, Uzbekistan Railways, UzbekNefteGaz, UzbekEnergo each will own  6.82% in the authorized capital of QurilishMashLeasing  and 13.63% will belong to other shareholders.


  Share in authorized capital:
Founders amount (million soums) Percentage
Total 22000 100,0
Ministry of Finance of Uzbekistan 10 000 45,45
National Bank for Foreign Economic Activity of the Republic of Uzbekistan 1500 6,82
Asaka Bank 1500 6,82
UzPromStroyBank 1500 6,82
Uzbekistan Railways 1500 6,82
UzbekNefteGas 1500 6,82
UzbekEnergo 1500 6,82
Other shareholders 3000 13,63


The main objectives of QurilishMashLeasing are defined as:

– market research, data collection, compilation and analysis of bids of construction companies for the supply on leasing of construction equipment and machinery, small tools, and special transportation;

– placing orders for production and acquisition of construction equipment for domestic and foreign enterprises at their own expense and other financing sources in accordance with the law;

– leasing or rental on contract basis of construction equipment manufactured and supplied in accordance with the placement of orders, primarily those on the Register of construction contractors;

– fundraising, including credit lines from foreign banks and other international financial institutions, to form a company with the resources earmarked for the purchase of construction equipment.

According to the document benefits for customs duties provided for in paragraph 6 decision of the President of the Republic of Uzbekistan on March 3, 2014 “On measures for further development and construction organizations to strengthen their material and technical base” will extend to QurilishMashLeasing.

By the Resolution, QurilishMashLeasing together with the Council of Ministers of the Republic of Karakalpakstan and regional authorities are instructed within a month to create branches in the regions.



Urgench Airport named as the Best airport in CIS states

Urgench International Airport won in the nomination “For great contribution to development of production” in annual contest “The Best airport of the CIS countries” of the “Airport” Civil Aviation Association.

The Urgench airport participated in the contest for the second time for the airports, serving from 100,000 to 500,000 passengers a year. Uzbekistan Havo Yollari said that this was achieved due to coordinated work of all services of the airport.

Recently, new terminal for arriving passengers, which meets international standards, was opened at Urgench International Airport.




Uzbekistan creates Pledge Registrar Enterprise

State unitary enterprise “Pledge Registrar” will be created under the Central Bank of Uzbekistan.

The enterprise is created in line with the resolution of the Cabinet of Ministers of Uzbekistan from 12 June 2014.

Pledge Registrar will conduct pledge registrar as single electronic data base in real time mode via Internet with use of SSL. The website of the enterprise – – locates at TAS-IX zone.

The resolution approved a regulation on order of conducting pledge registrar. The document sets terms and conditions for introduction of records to pledge registrar, changes and exclusions to the database, etc.

The pledge registrar will be conducted in the state language, but the records can be included in Russian and English languages. There will be no limits on making search in pledge registrar.

At the same time, other functions, including issuing records from the database, will be provided only to persons, who underwent registration process.

The issuing records from the database will be charged at the fee equal to 10% size of minimal salary and inclusion data to database – 20% size of minimal salary.

The records in pledge registrar, including changes and exclusions, will be stored for five years, the document said.