Uzbekistan: Support of Small Businesses and Private Enterprises. 1
Meeting of heads of foreign-policy offices of five Central Asian states and U.S. 2
Uzbek youth win medals of International Chemistry Olympiads. 2
Flag of Uzbekistan raised in the Olympic Village in Rio de Janeiro. 2
BUSINESS CLIMATE
Uzbekistan: Support of Small Businesses and Private Enterprises
The Fund for Support of Exports of Small Businesses and Private Enterprises has rendered the institutional, legal and financial assistance to 1,646 entrepreneurs in signing export contracts totaling $1.32 billion in the current year.
A maximum diversification of production through the involvement of small business and expansion to foreign markets with new products ranks among the key goals of Uzbekistan’s modern economic policy. This process is fully justified, since it is much easier for small economy entities to adjust to price changes in the global market and respond to fluctuating customer demand.
The Fund for Support of Exports of Small Businesses and Private Enterprises under the National Bank of the country has branches in almost all regions, rendering assistance to entrepreneurs with taking part in international exhibitions and fairs, business forums and cooperation exchanges, searching for foreign partners and signing contracts, getting licenses and certificates under the laws of foreign countries. The collaboration with over a hundred foreign organizations has been promoting exports of small businesses and private enterprises.
The number of entrepreneurs cooperating with the FSESBPE has been growing year by year. 164 entrepreneurs have joined their ranks in the current year. The volume of exported products increased by 26%. By the end of 2016, it is planned to support 4,000 entrepreneurs, and increase exports by 50% YOY.
In order to achieve these objectives, it was decided to increase the Fund’s authorized capital from 5.3 billion soums to 10 billion soums. FSESBPE was also granted the right to open its representative offices in foreign countries. It has cut its service charges from 3% to 1%. (currency rates of CB RU from 04.08.2016, 1$= 2969.43 soums)
The Fund helps domestic manufacturers to be actively involved in big international exhibitions and fairs abroad, establish export ties. In January-June 2016, 120 people have participated in international exhibitions and fairs specializing in construction materials, textile, leather, and footwear industries in Germany, France, Turkey, Turkmenistan and Kazakhstan. As a result, they signed export contracts at $59.5 million.
FSESBPE is currently working closely with O’zbekyengilsanoat on the arrangement of the participation of Uzbek entrepreneurs in the international textile fair Textillegprom-2016 to be held in Moscow on September 20-23.
In order to further enhance the export capacity of Uzbekistan, the Fund arranges visits of foreign customers and representatives of major international shopping malls to all regions of the country, and their meetings with entrepreneurs. This February, Ferghana region has hosted panel discussions with representatives of organizations and large malls in Latvia, Kazakhstan, Russia and other countries. Uzbek entrepreneurs have signed export agreements at more than $150 million. Representatives of large retail chain Lotte Mart Korea visited Uzbekistan in May to hold talks at food and textile enterprises, having agreed on exports of melons, cherries, pomegranates and other products to South Korea.
The Fund for Support of Exports of Small Businesses and Private Enterprises was actively involved in the International Fruit and Vegetable Fair on 12-16 July in Tashkent. With its support, more than 60 domestic enterprises signed 65 agreements on exporting their products totaling almost $490 million.
The Fund has been working on a system-based analysis of products manufactured by small and private businesses, assessment of their competitiveness in the international market, as well as on market research to ensure the compliance of exported products with the requirements of global and regional markets. It holds regular meetings to explore the capacity of exporting enterprises, addressing the emerging issues, and broadly involve producers to export activities.
The Fund will continue contributing to the further expansion of exports of small businesses and private enterprises, and sustainable development of the economy.
(Source: «Uzbekistan Today» newspaper)
International cooperation
Meeting of heads of foreign-policy offices of five Central Asian states and U.S.
On August 3, 2016, the delegation of the Republic of Uzbekistan took part in the “С5+1” format meeting of the heads of foreign-policy offices of five Central Asian states and the United States of America in Washington DC.
Foreign Ministers of the Republic of Kazakhstan Erlan Idrisov, the Republic of Kyrgyzstan – Erlan Abdyldaev, the Republic of Tajikistan – Sirodjidin Aslov, Turkmenistan – Rashit Meredov, the Republic of Uzbekistan – Abdulaziz Kamilov and the US State Secretary John Kerry exchanged views on prospects of cooperation in the spheres of economy, ecology and security.
Within the framework of the “С5+1” format there were held events with participation of the representatives of American business and private investors who are interested in the Central Asian market.
(Source: Press Service of the MFA of the Republic of Uzbekistan)
EDUCATION
Uzbek youth win medals of International Chemistry Olympiads
Representatives of Uzbekistan claimed medals of International Chemistry Olympiads, which was held in Tbilisi (Georgia) from 23 July to 1 August 2016.
Student of Yunusabad Academic Lyceum under Tashkent Pediatric Medical Institute Sarvar Shoyunusov won the silver medal of the Olympiad.
Student of Academic Lyceum No. 1 under Samarkand State Medical Institute Jahongir Fahriev and student of Academic Lyceum of Tashkent Medical Academy Charos became the bronze medal winners of the Olympiad.
It is worth to mention that over 300 representatives of 75 states took part in the International Chemistry Olympiads.
(Source: UzDaily.com)
Olympics-2016
Flag of Uzbekistan raised in the Olympic Village in Rio de Janeiro
A flag of Uzbekistan was raised in the Olympic Village in Rio de Janeiro (Brazil) on 2 August 2016.
According to Uzbekistan National Olympic Committee, athletes of Uzbekistan, representatives of the organizational committee of Olympic Games-2016 and administration of Rio de Janeiro took part in the ceremony.
About 100 athletes from Uzbekistan will take part in XXXI Summer Olympic and XV Paralympic Games in 2016 in Rio de Janeiro.
They will compete in such sports as rowing, gymnastics, rowing, kayaking and canoeing, boxing, judo, track and weightlifting, gymnastics, table tennis, swimming, taekwondo (WTF), tennis, trampoline, shooting, freestyle and Greco-Roman wrestling.
The summer 2016 Olympic Games will be held from 5 to 21 August, while the Paralympic Games – from 7 to 18 September.
(Source: UzDaily.com)
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