October 28, 2014
Aggregate Capital of Uzbek Banks Hits 6.6 trln. soums. 2
free industrial-economic zone “Navoi”. 2
Chinese Firm to Start Produce Cables at FIEZ Navoi2
International Conference on the Aral Sea Problems Opens in Urganch. 3
FINANCE
Aggregate Capital of Uzbek Banks Hits 6.6 trln. soums
As of 1 October 2014, the aggregate capital of banks of Uzbekistan reached 6.6 trillion soums. This was announced at the expanded session of the Board of the Central Bank of Uzbekistan, dedicated to results of the activities of the banking system in nine months of 2014. (Currency rates of CB from 28.10.2014 1$= 2383.98 soums)
The press service of the Central Bank said that current level of capital adequacy of the banking system makes up 24.7%, which exceeds requirements of the Basel committee on international banking supervision three times (8%).
For last several years, level of liquidity of the banking system exceeds 65%, which is twice higher compared to minimal level, set in international practice.
Assets of the bank rose by 29.2% year-on-year and exceeded 48.9 trillion soums, the Central Bank said in the statement.
In nine months of 2014, total volume of loans, issued to real sector of economy of Uzbekistan, grew by 31.1% year-on-year and exceeded 30.3 trillion soums.
The volume of issued investments rose by 1.3 times compared to the same period of 2014 and the sum reached 6.7 trillion soums as of 1 October 2014.
The Central Bank said that the banks issued 7.3 trillion soums to support small and private businesses, which rose by 1.3 times year-on-year.
The volume of microcredits exceeded 1.5 trillion soums, which also grew by 1.3 times compared the same period of 2013.
The loans issued to businesswomen grew by 1.5 times year-on-year and reached over 745 billion soums in the reporting period.
The commercial banks issued 160.3 billion soums to support graduates of colleges in January-September 2014, which rose by 1.5 times year-on-year.
The deposits at the banks rose by 30.4% year-on-year in January-September 2014 and exceeded 26.8 trillion soums.
The share of banking services in structure of financial services made up 88% in nine months of 2014, which rose by 1.3 times compared the same period of 2013.
The banks emitted over 12.9 million banking cards, while number of installed POS-terminals exceeded 150,900 units.
(Source: UzDaily.com)
free industrial-economic zone “Navoi”
Chinese Firm to Start Produce Cables at FIEZ Navoi
Foreign company Gulf Cable Trading Company (China) founded Foreign Enterprise Navoi Cable Connector LLC at Free Industrial-Economic Zone Navoi.
The enterprise was created to implement investment project of “Production of electrical aluminum wires and aluminum alloy, cable insulation materials and coupling for high voltage cables”.
In the first phase of the investment project, the investor invested US$2 million into project and plans to increase the volume of investment to US$5.95 million in future.
Within the project, it is planned to localize production, with a gradual increase share of local goods in good production, and create new jobs.
(Source: UzDaily.com)
international conference “Promotion of Cooperation in the Aral Sea Region to Alleviate the Impact of Environmental Catastrophe”
International Conference on the Aral Sea Problems Opens in Urganch
Urganch, Khorazm Region, hosts October 28 – 29, 2014 the International Conference ‘Development of Cooperation in Aral Sea Region to Temper the Impacts of Ecological Disaster.’
The event brings together experts from over 25 countries. The main goal is the mobilization of funds and efforts of the international community to implement programs and projects aimed at the improvement of ecological and social-economic situation in the Aral Sea region, as well as ensuring the further development of international cooperation to decrease negative impacts of the ecological disaster.
At the meeting will be screened a video film on the problems of the Aral Sea. Besides, the participants will discuss the issues concerning the implementation of regional projects. Reports will be delivered by representatives of the Executive Committee of the International Fund for Saving the Aral Sea, heads of groups of international organizations, and others.
Undoubtedly, the conference results contribute to form a new view and understanding of the Aral Sea tragedy, to work out specific proposals to improve the ecological situation in the region.
(Source: «Uzbekistan Today» newspaper)
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