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July 3, 2014


July 3, 2014

economy.. 2

Terms of Use of Refined Products approved in Uzbekistan. 2

Free Industrial Economic Zone “Navoi”. 2

Uzbek-Italian JV ‘Avtosanoat-Landi Renzo’ established at Navoi FIEZ.. 2

International cooperation.. 2

Innovative Center for Textile Technologies to be created in Tashkent2

A New Payment System Forthcoming. 3




Terms of Use of Refined Products approved in Uzbekistan

The Cabinet of Ministers Resolution dated 23 June has approved the Terms of use of refined products.

The Terms have been developed in accordance with the Law of the Republic of Uzbekistan “On Rational Use of Energy” and establish procedures for the use of refined products by entities, regardless of their organizational and legal forms of ownership in accordance with the law.

The Terms have also defined the general provisions, issue and receipt of petroleum products, storage, transportation and mixing of petroleum products, accounting, control and restoration of the quality of petroleum products, treatment of waste oil.

In addition, the Terms contain information about the safety and environmental protection requirements and responsibility for violation of the Terms of Use of refined products.


Free Industrial Economic Zone “Navoi”

Uzbek-Italian JV ‘Avtosanoat-Landi Renzo’ established at Navoi FIEZ

According to the Navoi FIEZ press center, UzAvtoSanoat and Italian Landi Renzo SpA have established a Joint Venture ‘Avtosanoat-Landi Renzo’ at Navoi free industrial economic zone.

Currently Landi Renzo SpA, with a market share of 30%, is a world leader in production alternative fuel systems and solutions for vehicles with CNG and LPG motor propulsion.

The established venture is part of the investment project: “Launch of manufacture of underhood CNG propulsion systems in the amount of 25,000 units.”

In the first stage of the project, the company founders will invest $1.8 million.

Under the project, it is planned to localize the manufacture, with gradual increase of its share and to create new jobs.


International cooperation

Innovative Center for Textile Technologies to be created in Tashkent

Uzbekistan and South Korea will create an Innovative Center for textile technologies in Tashkent city.

This is envisaged by a memorandum of understanding between the state joint stock company Uzbekyengilsanoat and Korea Institute for Technologies Development. The project cost is US$10 million.

Uzbekistan and South Korea signed a memorandum of understanding and cooperation in textile and light industry, and agreement on implementation of joint investment projects in textile and light industry.

Uzbekyengilsanoat and Daewoo International signed a memorandum of expanding and modernizing capacities of Daewoo Textile Fergana and Daewoo Textile Bukhara.

The sides agreed on realization of new three Uzbek-South Korean investment projects in textile and light industry for US$20 million. Uzbekyengilsanoat and Yanguan Corporation signed corresponding agreements.


A New Payment System Forthcoming

An Uzbek-French business forum in Tashkent has addressed cooperation in information and communication technologies.

Representatives of commercial banks, mobile phone operators, city public transport and retailers, experts and specialists took part in the occasion.

Chairman of the Trade and Industry Chamber of Uzbekistan A.Shaikhov and others noted that the extensive introduction under the leadership of President Islam Karimov of information and communication technologies to all areas serves as an important factor in the development of entrepreneurship and the perfection of services sphere.

Consistent efforts are underway to promote electronic commerce, study the international practice and expand cooperation on this front. In particular, the introduction of NFC (wireless communication) technology has been launched in cooperation with French companies Sofrecom and Aesma. The system allows for payments through a cell phone, and it is rather convenient and effective.

Introduction of this technology to public transport is projected within the next few days, followed later in supermarkets and shopping malls, pharmacies, catering outlets and the utility payments system. The NFC technology creates opportunity to make payments with all types of bank cards.

“It is worth acknowledging that information and communication technologies are widely introduced in Uzbekistan across all the walks of life,” says Mathieu Bulek, project manager of Aesma. “We hope for the effectiveness of mutual cooperation, which will serve for the further consolidation of trade and economic ties between Uzbekistan and France.”

The business forum also included an exchange of views on boosting the cooperation between commercial banks, mobile phone operators and trade complexes in the introduction of NFC technology to practice.