“Investment portal of Uzbekistan”

Citizens of 76 countries will be able to get an electronic visa to Uzbekistan (List)

Uzbekistan announces visa waiver for citizens of 45 countries (List)

Important Visa Information for Indian Citizens Travelling to Uzbekistan

January 19, 2016


economy.. 1

More than 207 thousand small business entities operate in Uzbekistan. 1

Ahangarancement produces 1.771m tonnes of cement in 2015. 1


Volume of deposits in banks of Uzbekistan goes up by 28% in 2015. 1

History.. 3

Abu Rayhan Beruni. “Monuments of Past Generations”. 3

Children’s sports. 3

In the upcoming five years, new sports schools will be launched in Uzbekistan. 3




More than 207 thousand small business entities operate in Uzbekistan

The number of newly established small business entities in 2015 comprised 26.9 thousand. As a result, the total number of operating small businesses entities as on 1 January 2016 reached 207104 units or 5.7 percent more than the same period last year, according to the press service of the State Statistics Committee of the Republic of Uzbekistan.

The message of the Committee says that in January-December 2015 the share of small business and private entrepreneurship in total volume of industrial production amounted to 38.9% (in 2014 – 34.8%), in retail turnover – 87.1% (86.3%), in services – 55,7% (51.5%), in paid services –50.8% (48.6%), in the carriage of goods – 53.1% (50.9%) passenger carriage – 88.0% (85.6%) and in employment – 77.9% (77.6%).

In addition, according to the State Statistics Committee, entities of small business and private entrepreneurship in 2015 utilized 14.79 trillion soums of investments, which makes 36.3% of the total volume of utilized investments in the Republic. (currency rates of CB RU from 19.01.2016, 1$= 2826.48 soums)


Ahangarancement produces 1.771m tonnes of cement in 2015

Ahangarancement produced 1.771 million tonnes of cement in 2015, which rose by 4.1% year-on-year, Russia’s Eurocement Group said.

The enterprise also shipped about 1.772 million tonnes of cement, which is 3% more compared to 2015. Within a year, the Uzbek enterprise produced 1.282 million tonnes of clinker, which grew by 3.4% compared to 2014.

In 2015, the miners mined and supplied 1.88 million tonnes of limestone. The growth rate made up 16.5% compared to 2014.

The company set several records in 2015. On 29 October 2015, the company shipped 1,647 tonnes of cement in bags, which is 28.8% more compared to average daily shipment figure.

The combine of construction materials and constructions produced 41,162 tonnes of ferroconcrete products in 2015, which is 24.7% more compared to previous record, set in 2013.

Ahangarancement also exported 229,268 tonnes of cement in 2015 with the growth rate of over 38% compared to 2014.



Volume of deposits in banks of Uzbekistan goes up by 28% in 2015

As was pointed out at the next enlarged session of the Board of the Central Bank of the Republic of Uzbekistan, over the past year, lending to small businesses compared with 2014 increased by 1.3 times and as of 1 January of the current year amounted to 12.1 trillion soums, including microcredits amounted to more than 2.5 trillion soums. This is 1.3 times more compared to 2014. (currency rates of CB RU from 19.01.2016, 1$= 2826.48 soums)

Particular attention was paid to commercial banks to support women entrepreneurs. In particular, the volume of issued credit funds to support women entrepreneurs has increased by 1.3 times compared to 2014 and amounted to more than 1.2 billion soums.

Banks have also paid considerable attention to the wide involvement of youth in entrepreneurship, especially graduates of professional colleges, as well as rendering financial support for their business projects. In particular, credit resources in the amount of 277.8 billion soums were allocated last year towards this area, which is 1.4 times more compared with 2014.

* * *

Currently, the indicators of the banking system of Uzbekistan not only meet generally accepted international standards, but in some areas surpass them.

These and other issues were in the focus of a regular enlarged session of the Board of the Central Bank of the Republic of Uzbekistan devoted to the results of the banking system for 2015.

In particular, today the capital adequacy of the banking system of Uzbekistan makes up 23.3% that by 3 times exceeds the requirements established by the Basel Committee on banking supervision (8%). This indicator as of 1 January 2016 has reached over 7.8 trillion soums.

The current liquidity level of the banking system for the past several years exceeds 64.5 percent, which is twice greater than the minimum level set by international standards.

Assets of banks compared with last year increased by 25.1% and amounted to 65.2 trillion soums.

Implementation of effective banking supervision by international standards, monitoring over liquidity and bank asset quality provided an opportunity for all domestic commercial banks to affirm a positive “stable” rating from international credit rating agencies.

The international rating Agency Мoody’s the sixth year in a row assigns the rating with the forecast “stable” prospects of development of banking system of Uzbekistan.

The activities of Uzbekistan’s banking system is also assessed as “stable” by rating agencies Standard & Poor’s and Fitch Ratings.

Thus, all domestic banks have “stable” assessment from the big three rating agencies.

Key indicators of the banking system, namely “the aggregate capital adequacy of banks”, “liquidity of commercial banks”, “dynamics of deposits”, changes in the volume of credit investments”, following the results of the reporting year correspond to high-level evaluation.

* * *


The Board of the Central Bank of the Republic of Uzbekistan has held an extended session dedicated to the results of the banking system for 2015 and the timely and full implementation of the major directions and priorities of economic program for 2016, defined by the President of the country I. Karimov at the session of the Cabinet of Ministers on 15 January of the current year.

The event highlighted that a sustainable state of the banks, improving confidence, and increasing real income year after year becomes a solid basis for the attraction of free funds of the population and economic entities in bank deposits.

Purposeful work to further increase the resource base of banks ensures the deposit growth of the banks. In particular, the volume of deposits, compared with 2014 increased by 28% and at the beginning of the current year amounted to 35.6 trillion soums.

* * *

In 2015, the commercial banks of Uzbekistan carried out a number of ambitious measures within the priority tasks, focused on the input of the most important modern and high-tech industrial plants and facilities, modernization of leading sectors of the economy, accelerating technical and technological renewal.

The total volume of loans, directed towards the real sector of economy increased by 27.3% compared to 2014 and at the beginning of the current year comprises over 42.7 trillion soums.

The volume of loans for investment purposes, compared with 2014 increased by more than 1.2 times and as of 1 January 2016 amounted to 10.2 trillion. sums.

These figures were presented at the regular enlarged session of the Board of the Central Bank of the Republic of Uzbekistan devoted to the results of the banking system activity for 2015.

* * *

Following the results of 2015, the share of banking services in the structure of financial services of Uzbekistan having increased by more than 1.3 times compared to 2014 comprised 88%. This is a result of targeted measures taken to increase and improve the quality of banking services to population and businesses.

Banks of Uzbekistan paid particular attention to the development of cashless payments. In particular, by the results of 2015, more than 16.3 million plastic cards have been issued, while the number of ATM’s in trade and service objects reached 183.1 thousand units.

These data were presented at the regular enlarged session of the Board of the Central Bank of the Republic of Uzbekistan devoted to the results of the banking system for 2015.



Abu Rayhan Beruni. “Monuments of Past Generations”

This book by Beruni has allow scholars of an Uzbek-Australian expedition to suggest that the images they had discovered are an ancient Khorezmian calendar.

Uzbekistan Today has been closely watching the efforts of the joint Uzbek-Australian archeological expedition. It includes scholars of the Karakalpak Research Institute for Humanities, Sidney University and specialists from Europe and the US. In 2015, we published a story saying that in one of the castles discovered in the Tashkirmon Oasis scholars saw images of human-like gods seven meters in height They surmised those were images of Zoroastrian gods. Further research of the monuments led to new hypotheses.

“Our specialists still believe that the frescos with colorful figures like those discovered earlier but wearing clothes are gods of the Zoroastrian pantheon,” says Makset Karlybayev, the director of the Research Institute. “Back then, people dedicated days and months of the Zoroastrian calendar to these gods; in other words, every day and month bore the names of specific gods. In case this surmise is true, we would be dealing with an ancient Khorezmian astronomical calendar.”

This calendar is based on the Zoroastrian but in many ways differs from it. The ancient Khorezmian calendar was based on the tropical year attached to the visible solar movement and had 365 days. The year consisted of 12 months, 30 days each. Five extra days were usually added in the end of the year. And, as it was mentioned earlier, all days and months carried the names of different. These gods were described in detail the book of Beruni “Monuments of past generations.”

-This hypothesis explains the extremely enlarged sizes of the figures which as the gods were supposed to demonstrate their superiority over others – explains Makset Karlybayev. – In the Ancient Orient it was customary to portray all deities larger than ordinary people as to make them look terrible and omnipotent in such background. It is also known that the Aryan tribes, the ancestors of the Khorezmians, also had the common practice to name days and months after their most popular gods from the Vedic pantheon. It is noteworthy, that this ancient Khorezmian calendar was in use even after the spread of Islam and, hence, introduction of lunar calendar.

Investigations are continuing. Scientists believe that further study of the frescoes on the Ahshan Kala will bring lot of new information about development of the civilization on the territory of ancient Khorezm.

(Source: «Uzbekistan Today» newspaper)

Children’s sports

In the upcoming five years, new sports schools will be launched in Uzbekistan

In the upcoming five years, new sports schools will be launched in Tashkent, Karakalpakstan and other regions of the country. This order has been issued by the November 23, 2015 Presidential Decree.

The purpose of this decision is to create an effective system for the preparation of the country’s world-class athletes able to worthily represent Uzbekistan at the Olympic and Asian Games, world championships, Asian championships and other international competitions. Training camps for national teams and reserves, as well as national and regional sports competitions will be held on the basis of the new sports schools.

The specialization of the schools that are under the patronage of the Ministry of Cultural Affairs and Sports, is defined on the basis of the currently established sports schools in the regions that have their own traditions, coaching and teaching staff, and achieved sporting results. This year the construction of such schools will begin in Samarkand (track and field), Andijan (boxing) and Tashkent (team sports). The current representatives of the national teams and reserves will be enrolled in these schools. They will be provided with free accommodation, food and all necessary gear and equipment.

Andijan’s boxing school is well known all over the world. It has brought up such athletes as Muhammadkadyr Abdullaev – Olympic Boxing Champion, Utkirbek Haydarov and Bahodyr Sultanov – both bronze medalists of the Olympics. Ruslan Chagaev was the WBA world heavyweight champion. Aleksandr Razmahov and Utkirbek Haydarov are both in the coaching staff of the national team. The national team has a lot of boxers from Andijan. Over a hundred talented boxers are currently enrolled in the local College of the Olympic Reserve. Thousands of kids are actively engaged in boxing all over the region. This means that soon we will see many new champions in the world of boxing.

“Samarkand has not been selected as the center of the ‘Queen of all Sports’ by chance,” says the General Secretary of the Federation of Athletics of Uzbekistan Evgeniy Nujdin. “Over 20 representative of Samarkand are currently a part of the national team. Aleksandra Kotlyarova, for example, has become the silver medalist of the Asian Games in the triple jump and also participated in the London Olympics. Ruslan Kurbanov owns a bronze medal of the Winter Asian Championship in the same discipline. Last year, while participating in the pentathlon competition, the 14-year-old Roksana Hudoyarova completed the minimum requirement for the title of the candidate for master of sports for adults. There are many other names with which we associate with the future of our sport.”

The Federation referred to the municipality of Samarkand region a project of an athletics stadium with and arena and all of the necessary facilities. This ancient region of the country will forge and train elite athletes, and become the center, which will host international competitions.

(Source: «Uzbekistan Today» newspaper)


Reference to the source is a must in reproducing materials