This week, key topics were addressed in the fields of public administration, investment, and business. In Spot's weekly roundup, we have compiled the most significant articles and news that you might have missed.
Politics
On November 18, Shavkat Mirziyoyev addressed the new convocation of the Legislative Chamber of the Oliy Majlis. The President urged the deputies to adopt the law on "Renovation," the development of which was announced back in spring 2023.
The head of state emphasized the need for laws on health insurance, support for private education, and regulation of AI. He also proposed to assign special parliamentary commissions to harmonize legislation with WTO norms and accelerate the "green" transition.
On November 20, a meeting was held to approve the Prime Minister. The President announced a GDP target of $200 billion by 2030 and an annual economic growth rate of 6-7%. The economic block has been tasked with reducing unemployment to 5-6%, ensuring the creation of high-income jobs, and increasing the share of the private sector in the economy to 85%.
Additionally, there are plans to reach agreements with Kazakhstan and Tajikistan regarding border crossings using ID cards. Mirziyoyev proposed to declare 2025 as the Year of the "Green" Economy and instructed to create an action program in this direction.
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The proposal to reappoint Abdulla Aripov as head of government was supported by the Legislative Chamber. A day later, on November 21, deputies approved the reappointment of all Cabinet members.
The President also approved the procedure for issuing "Vatandosh" certificates and cards. These are intended for individuals from Uzbekistan who have made significant contributions to the economy and public life of the country, granting a number of rights, including visa-free entry and the ability to purchase housing freely.
Business
On November 18, a meeting was held at the Tax Committee with representatives from the water and soft drink markets to discuss digital labeling. Deputy Head of the agency Alimjan Faizibaev and CRPT Turon head Anatoly Bachikalov emphasized the positive effects of implementing labeling, including increased traceability and reduced smuggling.
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Executive Director of the UzBev association, Alfiya Musina, noted several challenges in meeting the requirements. Among them are the lack of solutions for applying labels on high-speed lines, the high cost of labeling equipment, and interruptions in applying codes due to internet issues.
"In Uzbekistan, anti-incentives are being created for doing business, and businesses are making key decisions to transfer funds to other territories that are more favorable for business," Musina emphasized.
She suggested postponing the aggregation of codes for 3 years to address the existing serialization challenges and to launch aggregation. The Tax Committee agreed to extend the deadline for implementing aggregation until December 1, leaving the decision on a longer delay to the Cabinet.
Investments
The Tashkent Stock Exchange and the AUCA summarized the results of the SPO of the Republican Commodity and Raw Materials Exchange. A total of 11,298 applications were satisfied for an amount of 42.9 billion soums, of which over 99.4% were from individuals (out of 12.6 thousand submitted).
Also, the AUCA announced the sale of two hotels in central Tashkent. The company Smart Fast Stroy offered $26 million for the International Hotel Tashkent and committed to settle debts of €14.7 million. The new owner of Lotte City Hotel Tashkent Palace is the insurer Alfa Invest for $20 million.
On November 22, the Eximbank of China opened a representative office in Tashkent. It will coordinate the bank's activities in 8 countries of Central Asia and the South Caucasus. There is a noted activation of Chinese investors—CSCEC has agreed with the Tashkent mayor's office on projects worth $1 billion, and the construction of electric scooter and metal structure factories has begun near Andijan.
Other
The Asian Development Bank approved the allocation of $250 million to Uzbekistan to strengthen institutional frameworks for climate transition. The funds are intended to accelerate the transition to low-carbon energy and enhance climate resilience.
UzAuto Motors has contracted for 55 thousand Cobalt vehicles, of which just over half were for the configuration presented in October, Midnight. Prior to this, the company denied rumors about halting sales of the sedan version with a manual transmission.
"Hududgazta'minot" has introduced a mobile application for monitoring gas consumption and payments activated via One ID. Additionally, the Ministry of Energy launched the Avto24 app, which provides information on gas stations, including prices and fuel stocks.
Articles of the Week
Spot has prepared a traditional overview of innovations in the fields of economy and business that will come into effect on December 1. In particular:
- In Tashkent, passports with QR codes will be introduced for construction projects, and project approvals will be conducted through the "Transparent Construction" platform;
- Food service establishments will be allowed to purchase agricultural products for cash;
- New pension and benefit recipients will be issued "social cards."
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The founder of the B&B coffee shop chain, Jahongir Umarov, shared with Spot the story of his mistakes. The entrepreneur highlighted the poor choice of location and the importance of selecting the right contractors.