Review.uz/en - Economic Review

2021-09-01 19:55:14 Social and economic recovery of Central Asian countries after the pandemic

Director of the Center for Economic Research and Reforms Obid Khakimov spoke at a panel session at the annual meeting of the Board of Governors of the Islamic Development in Tashkent.

Central Asian countries have great potential for the development of cooperation and integration. Estimates made using the IsTB methodology show that Central Asian countries have an unrealized export potential of $ 1.1 billion in mutual trade," said Obid Khakimov, director of the Center.

It is estimated that food products will cost $530 million, chemicals $180 million, metallurgy $120 million and light industry $110 million.

It was noted that Uzbekistan has the potential to export more than $600 million worth of products to Central Asian countries.

The head of the Center for Economic Research and Reforms added that close cooperation will help create industrial and agricultural clusters in Central Asia, which could have a compensatory effect in reducing production costs.

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2021-09-01 05:20:29 @review_en Open / Comment

2021-08-31 14:52:04 Prospects of reforms in the context of the development of independent Uzbekistan

An international scientific and practical conference on the theme "New era and development prospects of Uzbekistan" was held in Tashkent at the International Palace of Forums.

At the international expert platform, the director of the Center for Economic Research and Reforms (CERR) under the President Administration of the Republic of Uzbekistan, Dr. Obid Khakimov, delivered a presentation.

In his speech, Obid Khakimov spoke about the turning points of reforms in Uzbekistan, in particular about economic directions.

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2021-08-31 08:22:35 Review of the chemical industry of Uzbekistan for 2016-2020. #Infographics

The article by the expert of the Center for Economic Research and Reforms #CERR Timur Niyazmatov presents the development of the chemical industry in Uzbekistan over the past five years.

Over the past five years, Uzbekistan has managed to solve the main problems in the chemical industry that have held back its development for a long time.

Uzbekistan for the first time began to produce automobile tires after the implementation of 2 projects in 2019.

The first place in the export of chemical products of Uzbekistan in 2020 was taken by ammonium nitrate with a total export value of $44,231 US (206 thousand tons). Uzbekistan has never exported such a large amount of nitrate; in 2016, the republic received only $23,343 US from the export of this type of product, sending 116 thousand tons abroad.

Over the past 5 years, due to a decrease in resource intensity and energy intensity, Uzbekistan has managed to achieve an increase in the production of chemical products, as well as its exports. However, a number of problems still remain unresolved, in particular, export diversification and modernization of current equipment.

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2021-08-28 08:20:36 #Infographics: International trade with CIS countries for July 2021

One third of the country's foreign trade turnover falls on the CIS countries.

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2021-08-28 06:30:50 Experts discussed how coronavirus affects the achievement of the Sustainable Development Goals (+video)

Uzbekistan at the international expert platform was represented by the director of the Center for Economic Research and Reforms (CERR) under the Administration of the President of the Republic of Uzbekistan, Dr. Obid Khakimov.

In his speech, the head of CERR noted that in 2017 the Government of Uzbekistan launched a wave of economic reforms to move to a more open economy.

The implementation of the Sustainable Development Goals #SDGs in Uzbekistan coincided with large-scale reforms within the framework of the National Action Strategy for 2017-2021.

According to World Bank estimates, Uzbekistan was one of only three economies in the Europe and Central Asia (ECA) region that maintained positive economic growth in 2020.

Famous economist Jeffrey Sachs, offered recommendations aimed at achieving the SDGs. His main thesis was that the only way to defeat hunger, poverty and save children from deadly diseases was by increasing funding for development.

Sachs noted that global GDP is about $100 trillion USD and developed countries should allocate $1 trillion USD to implement the SDGs. It is necessary to pay attention to developing countries.

“I live in one of the countries where it is extremely difficult to get money for sustainable development. Funds for these purposes do not come from the business community. The amount of government funding for development must match the amount of our promises and our needs.

Please use next year to boost development finance through the multilateral development bank channel. Let's explain to developed countries that we live on the same planet and these are the same pathogens, the same virus, climate change and instability”, said Prof. Jeffrey Sachs, the director of the Center for Sustainable Development at Columbia University.

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2021-08-26 11:42:32 In July 2021, the Business Activity Index #BAI, calculated by the Center for Economic Research and Reform #CERR, was 994 points, compared to the previous month, decreased moderately by 0.6%.

Despite a moderate decline in the business activity index versus the previous month, its growth is noted by 25.1% versus the same period last year.

The following changes were observed in the components of the BAI.

the number of transactions in bank accounts of business entities decreased by 7.9%;
the component of operating economic entities inceased by 4.3%;
the intensity of purchasing raw materials at the commodity exchange increased by 0.7%;
brand components increased by 11.0%.

In the regional context, the Republic of Karakalpakstan showed the highest growth.

In July 2021, the Business Activity Index for 8 regions increased compared to the previous month (June 2021). There was a significant increase in the Republic of Karakalpakstan (39.7%), in Jizzakh (36.4%), Tashkent (29.5%) regions and in the city of Tashkent (18.7%).

At the same time, in Andijan (- 12.6%), Kashkadarya (- 12.3%) and Surkhandarya (- 9.5%) regions there was a significant decline in relation to the previous month.

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2021-08-25 12:48:03 #Infographics: Trade of Uzbekistan with Central Asian Countries for June 2021

The infographic of the CERR illustrates the impact of Uzbekistan's trade and economic relations with Central Asian countries.

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2021-08-25 10:11:27 USAID provides $1 million dollars to support women in rural areas

Ministry of Agriculture of Uzbekistan and the United States Agency for International Development (USAID) signed a Memorandum of Understanding aimed at strengthening cooperation to promote agriculture through the Agribusiness Development Program.

The $18.9 million USAID 2020 project is a five-year project aimed at strengthening agribusiness development initiatives and expanding the gains of the previous Agricultural Value Chain project.

During the event, USAID announced an additional $1 million to support women working in agriculture in Uzbekistan. These funds will be used to improve rural women’s information technology and entrepreneurial skills, help them open commercial enterprises and help local businesses find formal employment.


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2021-08-25 09:27:25 Uzbekistan’s energy sector overhaul

“Development of the energy sector is essential for economic growth,” Deputy Energy Minister Bekhzot Narmatov said in an interview with bne IntelliNews in Tashkent, in which he outlined the plans for energy sector liberalisation, infrastructure investments and boosting efficiency.

Uzbekistan has a fast growing and increasingly affluent population, which means energy demand is already increasing and will grow further in the coming years.

Together with Tashkent’s participation in the global effort to fight climate change, this has prompted the government to draw up plans to overhaul existing infrastructure, raise efficiency and encourage investment into renewables.

The government’s forecast, as set out in its power sector development concept for 2020 to 2030 is for the current demand of around 68bn kWh to increase to between 110bn and 115bn by the end of the decade.

“This increase is because of two factors: the population is growing and will increase from 34mn today to close to 38mn by 2030, and consumption per capita, which is currently below the global average, is also expected to increase,” Bakhrom Umarbekov, project manager on renewables at the energy ministry

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