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November 5, 2015



Credit system of Uzbekistan moves ahead 63 steps in world rankings. 2

International industrial fair and Cooperation exchange.. 3

IIFCE holds about 80 centralized presentations. 3

International cooperation.. 3

German-Uzbek business council holds session in Tashkent 3

Society.. 4

Central Asia’s largest bookstore opens in Tashkent 4

sport.. 4

On the Tide of Success. 4



Credit system of Uzbekistan moves ahead 63 steps in world rankings

Uzbekistan strives to take its rightful place among the developed countries. As in all industries, this is clearly reflected in the banking system.

The effectiveness of reforms aimed at socio-economic development of the country is well recognized in the international arena as well.

Reforms conducted in our country are aimed primarily at the protection of human interests and welfare. Hereby financial institutions are main drivers of this process. Their services and resources allow to effectively implement many long-term projects, to create thousands of new jobs.

Banks of the country, guided by the principle “not a client for a Bank, but a Bank for a client” as the main priority, carry out their activities according to the requirements of time and constantly improve all areas of work.

Special attention is paid to the financial support of small business and private entrepreneurship entities.

Deliberate and well-thought-out policy of our head of state and the timely taken measures not only prevented the negative effects of the ongoing global financial and economic crisis, but also allowed to achieve stable activity of banks, strengthened their financial stability and level of capitalization.

Not a coincidence that the positive reforms in Uzbekistan, including in the banking system, have been highly appreciated by various international organizations and take their rightful place in the world ranking.

In particular, according to a new report of the World Bank and the International Finance Corporation “Doing business 2016: evaluation of the quality and effectiveness of regulation” Uzbekistan’s rating on indicators of favorable business environment among 189 countries in the world over the past year rose to 16 steps and ranked 87-th.

The World Bank and the International Finance Corporation report is updated every year, and the conditions of doing business in countries around the world is evaluated based on several criteria.

In particular, this year Uzbekistan has demonstrated the highest growth rates on the indicator “Getting credit” on which our country from 105-th position climbed up 63 positions and took the 42-nd position.

According to the international experts, it is a result of targeted measures to support small business and private entrepreneurship, progressive reform of the banking sector, the persistent strengthening of the banks ‘ resource base.

According to respected analysts, Uzbekistan has been simplifying lending procedures in accordance with the needs of entrepreneurs from year to year, the Central Bank conducts optimal interest rate policy, concrete work is being done on credit information sharing and agreements on pledges. All these factors are important in improving the ranking on the indicator “Getting credit” and achieving high growth rates.

Overall, the current report of the World Bank and the International Finance Corporation at the international level confirmed the fact that Uzbekistan is dynamically developing, and the banking system occupies an important place in this process.


International industrial fair and Cooperation exchange

IIFCE holds about 80 centralized presentations

Wide range and high quality products from the first hand, the opportunity to sign mutually beneficial deals with manufacturers directly are hallmarks of the International industrial fair and Cooperation exchange (IIFCE).

This traditional forum of manufacturers, which is held this year for the ninth time, has united more than 2 thousand enterprises, companies and organizations of Uzbekistan, representing more than 21 thousand kinds of products.

In particular, the enterprises within the structure of the Association Uzeltekhsanoat have demonstrated extensive expositions in the pavilions of Uzexpocenter. The most recognizable among them – JSC “Sino”, SUE “Photon”, the group of companies under the brand “Artel” and others. Their stands attracted many visitors and participants. This is not surprising, since the enterprises of the electrotechnical industry in recent years has mastered the production of complex household and radio products – modern models of TVs, household and industrial refrigerators, air conditioners, gas cookers, vacuum cleaners, energy saving lamps, electric kettles, irons and mobile phones.

As in previous years, stands of large industrial giants of our country, in particular, Almalyk mining and metallurgical plant (AMMP) hit the scale. AMMP within the Program of localization of production is implementing 27 projects worth 67 billion soums this year (currency rates of CB RU from 05.11.2015   1$= 2692.13 soums). They provide for the production of equipment for the mining industry and its spare parts, for example, GRAT pumps, mine trolley, ball mills, hydrocyclones, as well as the manufacture of non-ferrous products with deep processing of local raw materials and production of goods with high added value, such as copper pipes, zinc sulfate, faucets for sanitary ware, valves and manifolds.

The open area of “Uzexpocenter” exhibits products of the automotive industry of the Republic, which includes a number of enterprises, more than 30 joint ventures of JSC “Uzavtosanoat”.

The Samarkand automobile plant presented 10 kinds of its products. Along with the already previously shown at previous exhibitions low-ash city bus LE60 and ambulance on chassis Isuzu NRL, the plant demonstrates new vehicles – light trucks. In turn, the manufacturer of cars GM-Uzbekistan has also presented its products, including the new light commercial vehicle Labo.

It should be emphasized that IIFCE within its framework saw about 80 centralized presentations of large industrial enterprises, small business and private entrepreneurship entities. The presentations of regions of the country gave detailed information about the development of local resources, development of industrial cooperation between small business and private entrepreneurship and the basic enterprises of the industries.


International cooperation

German-Uzbek business council holds session in Tashkent

Tashkent hosted the second session of German-Uzbek business council. It was attended by the heads and representatives of ministries and departments, as well as leading companies, corporations and banking and financial institutions of Germany and Uzbekistan.

First Deputy Prime Minister of the Republic of Uzbekistan R. Azimov and the member of the management board of the company “Klaas” Jan Hendrik Mohr delivered their speeches at the opening of the Council.

Representatives of business circles of Germany noted the dynamic development of the Uzbek economy, deep structural reforms, favorable investment climate and opportunities for successful investment activity.

Within the framework of the event, the Uzbek side made presentations about economic and investment potential of our country, the State Privatization Programme, project proposals in the field of agricultural machine building, light and pharmaceutical industry, construction materials. At that, the participants discussed the prospects of bilateral practical cooperation in various sectors of the economy.

The German-Uzbek business council was established by the Decree of the President of the Republic of Uzbekistan dated March 12, 2015. Its founders from the German side are over 50 leading companies and banks of Germany, such as “MAN”, “Airbus”, “Thyssen-Krupp”, “CLAAS”, “Knauf”, Lemken, “Commerzbank, Deutsche cable” and others. The first session which was held in February this year in Berlin was attended by over 250 representatives of leading German industrial companies and banks.

Following the session results, the sides signed a package of investment and loan agreements and trading contracts with a total value of to be implemented investment projects and to be attracted German loans in the amount of $2.8 billion in chemical, mechanical, electrical, textile and food industries, production of new types of building materials and other fields.



Central Asia’s largest bookstore opens in Tashkent

Tashkent hosted the opening ceremony of the largest in Central Asia bookstore “Kitob olami”, according to the information service of the Uzbek Agency for Press and Information.

45 thousand books on 21 directions are presented in the shop. Among them – the works of the President of the Republic of Uzbekistan, the legal literature, gift editions, detectives, fantasy, contemporary prose, spiritual and educational literature.

Particular attention is paid to children’s literature. Here people can find both domestic and foreign publications in various languages.

In addition, the complex has a book-café where visitors have the opportunity to enjoy favorite book with a cup of tea. Moreover, it is possible to arrange meetings with poets and writers in a cozy cafe.

In the near future, it is planned to use the official website of the store, where on-line sales will be organized. It should be noted that the network of such complexes is projected to be opened across the whole country.



On the Tide of Success

Anna Kasparyan and Yekaterina Hilko of the women’s national trampoline team of Uzbekistan have returned with silver medals from France. The medals were obtained at the stage of the Trampoline World Cup 2015. Our athletes were second behind the duo from China, but were able to beat Megu Uyama and Ayana Yamada from Japan.

Until recently, Europeans dominated the trampoline. However, today countries like Canada, China and Japan are gaining strong momentum and wining various competitions. In this regard, the results of our girls are even more significant. This is the result of numerous international training camps completed by our team. In addition, not only the two top athletes of our country, but also the juniors and other members are showing better results.

Men have also competed in this competition. We can highlight the performance of Amir Babayan, who completed the minimum requirements for obtaining an international master of sports rank. Husanboy Jonibekov and Mohirbek Olimjonov also left positive impressions. In Mouilleron le Captif our athletes also competed in the trampoline runway, where our country was represented by Shavkat Jonibekov. This is his debut in senior competitions.

Now the national team is preparing for the world championship that will be held next month in Denmark. There the top 16 athletes will be awarded Olympic licenses. Nevertheless, only the athletes of the top eight in the singles competition will receive automatic licenses, as synchronized trampoline jumping is not a part of the Olympic program. The rest of eight licenses will be distributed at the qualification round scheduled prior to the 2016 Olympic Games in Rio de Janeiro.

Yekaterina Hilko is still the leader of the national team, as she competed in four Olympics and bagged a bronze medal at the Games in Beijing. Anna Kasparyan is a promising young athlete who has won several medals this year, one of which is a gold medal secured at the Flower Cup 2015 in the Netherlands.

Husanboy Jonibekov, Mohirbek Olimjonov, Amiran Babayan and Samirbek Usmanov will all participate in the World Championship in Denmark. It is too early to hope for medals, as the main task of the youngsters is to reach the qualification round in Brazil. Each one of them has a chance.

“From last January the height and the airtime of a jump has become a marked factor for the judges,” says the coach of the national team Roziya Yakubova. “Now this is one of the main criteria’s. The overall mark is compiled out of three components – difficulty, technique and the height. The judges give the first two marks; the latter is calculated using special equipment. To obtain higher marks the athletes are now working on the height of the jump as well. Yekaterina Hilko has several maximum difficulty elements in her arsenal, but to obtain better marks she is now working on the height of her jump. The same goes for all other athletes of our national team. Each of them has a good chance to catch a good tide and achieve great results.”

(Source: «Uzbekistan Today» newspaper)


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