November 20, 2014
On the Visit of Switzerland’s President2
Share of Non-state Forms of Ownership in Uzbekistan Exceeds 85 Percent2
New Point on the Investment Map. 2
POLICY
On the Visit of Switzerland’s President
On November 21, 2014, President, the Minister of Foreign Affairs of the Swiss Confederation, the current chairman of the Organization for Security and Cooperation in Europe, Didier Burkhalter is to pay visit to Uzbekistan.
The program of the visit – a meeting with the President of the Republic of Uzbekistan Islam Karimov, which will be discussed the status and prospects of Uzbek-Swiss relations, issues of cooperation in the framework of the OSCE, relevant regional and international issues.
(Source: Press-service of the President of the Republic of Uzbekistan)
economy
Share of Non-state Forms of Ownership in Uzbekistan Exceeds 85 Percent
According to the data of the Single State Register of Enterprises and Organizations, the quantity of active registered legal entities by October 1, 2014, reaches 245, 2 thousand, or 90 percent of the total number of registered legal entities.
The most number of enterprises and organizations is registered in the sectors of trade and catering (28.3 percent), industry (17.3 percent), building (8.9 percent), farming and forestry (8.3 percent).
Share of non-state ownership reaches 85.5 percent, including 33.4 percent – private enterprises, 1.8 percent – enterprises with foreign capital, 50.1 percent – other enterprises.
Within January – September, 2014, it has been registered 20, 9 thousand enterprises and organizations, 20, 2 thousand of which are small businesses. Majority of the new enterprises and organizations go to Tashkent – 24.1 percent out of all registered within the country, Tashkent region – 10 percent, Farghona region – 8.7 percent, and Samarqand – 7.5 percent.
In the reporting period 15, 1 thousand enterprises and organizations have been liquidated.
(Source: «Uzbekistan Today» newspaper)
investments
New Point on the Investment Map
The light industry has been assigned a remarkable share in the local economy, accounting for about a fifth of the gross domestic product of Uzbekistan. At the same time, the sector is dynamically moving forward: dozens of modern textile complexes, including finishing, knitting and sewing enterprises, are in the process of construction.
Most of the new facilities are put into operation through direct foreign investment. In the near future the investment map of the light industry will be added up with a new facility: the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan and the Dutch company LT Textile Cooperatief UA signed an agreement to establish a high-tech textile manufacture in Qarshi District of Qashqadaryo Region.
The Dutch firm made a commitment to invest in the project at least $55 million in 2015-2016. A part of this amount will be covered by the funds of LT Textile Cooperatief UA, and the remaining $38 million will be drawn through foreign bank loans. The investments will be forwarded to offsetting up a textile production facility outfitted with new, high-tech and energy-efficient equipment, as well as a specialized service center.
The factory is planned to be launched in November 2016, and shift to the projected processing capacity of 20 thousand tons of cotton fiber and 15 thousand tons of cotton and mixed yarn per year in the first quarter of 2017. It is scheduled to export not less than 80% of the output. The plant is expected to provide for 700 new jobs.
Despite the fact that the project is currently in its initial stage, the parties are intending to transform the manufacture into an integrated complex of production of cotton and mixed fabrics toward 2017-2018. It is envisaged to channel another $5 million for its extension.
(Source: «Uzbekistan Today» newspaper)
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