Review.uz/en - Economic Review

2021-06-28 16:41:13 World Bank will provide concessional loan to Uzbekistan for transformation the electricity sector

In particular, the government will receive a loan of $380 million from the World Bank and $43 million from the Green Climate Fund (GCF).

Financing is provided at very low interest rates and for a maximum period of 40 years.

Demand for electricity in Uzbekistan is expected to increase from 61 billion kilowatt-hours in 2018 to more than 100 billion kilowatt-hours by 2030.

Currently, there are more than 250,000 km of power transmission lines and distribution networks in the country. Most of them were built during the Soviet era and their exploitation period ended a long time ago.


In particular, the project will help integrate up to 1,500 megawatts of renewable resources into the energy system.

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2021-06-28 10:03:55 "Uzbekistan: From Privatization to a Leap for 30 Years Ahead" - Forbes assessment of reforms in the country

Previously, the government kept the economy under control in the Soviet style, there was not even a currency conversion. All this changed with the arrival of the new President Sh.M. Mirziyev in 2016. Taxes have been reduced. A new liberal exchange rate regime was established.

With the "Uzbek model", Sh. Mirziyoyev opened the country to the whole world.

The digital and IT infrastructure of Uzbekistan currently accounts for only 2.2% of the economy. It is expected to reach 10% by 2030. London-based Sturgeon Capital was one of the few to see the opportunity in Uzbekistan. They set up a venture capital fund, invested $10 million in six local tech companies, and two more are in development.

Even the state-owned cotton industry, a strategic sector of Uzbekistan's economy is undergoing market reforms.

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2021-06-25 14:49:01 Uzbekistan among top 10 gold producing countries for 2020 Uzbekistan was ranked 8th among top 10 gold producing countries in 2020, according to the World Gold Council (WGC).

According to WGC, Uzbekistan produced 101.6 tons of gold in 2020 versus 94.6 tons produced in 2019.

Uzbekistan has Murutau gold mine, the world biggest open-pit mine. This mine is forecast to have the world's biggest gold reserves.

China is on the first place with 368.3 tons of produced in 2020. It is followed by Russia with 331.1 tons, Australia 2 with 327.8 tons of gold produced.

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2021-06-24 12:46:03 #CERR assessed the effectiveness of auctions on the public procurement portal (for the period from January 2020 to April 2021)

During the research CERR developed the Auction Bidding Performance Index (Index), which assesses the effectiveness of the results of the organization and implementation of procurement processes by government customers.

It is important to note that such an #Index is being formed for the first time in Uzbekistan.

Auction performance index was assessed for each lot using these criteria
such as contract value,
category weight,
price reduction from the starting price,
number of bidders,
bidding status,
level of suspicion in procurement .

RESULTS

There is an inverse relationship between the number of applications and the contracts: the more applications, the lower the price, which leads to savings in public resources.

In the auctions of budgetary organizations, an average of 5 suppliers participated in each lot (in corporate auctions - 4) and submitted 13 bids (in corporate auctions - 10).

The highest price declines were observed in the following commodity groups:
"Stationery" - 38%,
“Clothes, shoes and bedding” - 38%,
"Sports inventory and equipment" - 34%,
"Sound recording technique and equipment" - 32%,
"Musical instruments" - 32%.

Slight price reduction:
"Biologically active additives" - by 5%,
"Prosthetic and orthopedic raw materials for dentistry" - 7%,
"Software product" - 9%.

The authors of the study summarized the index values and compiled an efficiency rating that published more than 10 auctions (1596 budget and 617 corporate customers, 236 Republican-level customers).

61% of republican-level organizations entered the rating with low efficiency. For organizations at the regional and district / city levels, this number is 52% and 45%, respectively.

The Center for Economic Research and Reforms invites you to get acquainted with the full list of rating participants - government customers on the website Review.uz

In the future, CERR plans to analyze the effectiveness of the tender, selection and direct procurement process.

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2021-06-24 08:42:35 #Infographics: International trade with CIS countries for May 2021

The foreign trade turnover of the Republic of Uzbekistan with the CIS countries in January-May 2021 amounted to $5,260.5 million.

From this, exports amounted to $1,782.8 million. Imports amounted to $3,477.6 million.

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2021-06-23 15:07:44 Dynamic growth of trade, economic and investment cooperation between the countries of Central Asia - as a factor of ensuring their sustainable development

Uzbekistan's policy of strengthening good-neighborly, friendly and mutually beneficial relations with neighboring countries has laid a solid foundation for expanding trade, economic, investment cooperation between the countries of the region, writes Obid Khakimov, director of the Center for Economic Research and Reforms.

From 2016 to 2019, Uzbekistan's trade with Central Asian countries doubled from $2.5 billion to $5.2 billion.
At the same time, with Kazakhstan, this growth increased 1.8 times, Kyrgyzstan 5 times, Turkmenistan 2.7 times and Tajikistan 2.4 times.

An important indicator in foreign trade is the volume of Uzbekistan's exports.

From 2016 to 2019, Uzbekistan's exports to Central Asian countries almost doubled from $1.3 billion to $2.5 billion, and the share of the region's countries in total Uzbekistan's exports increased from 10.8 to 14.5 percent.
Exports to Kazakhstan increased 1.5 times, to Kyrgyzstan 5.5 times, to Tajikistan 2 times and Turkmenistan 1.8 times.

In 2020, the total foreign trade turnover of the countries of the region amounted to $142.6 billion, of which 12.7 billion or 8.9 percent is the share of intra-regional trade.

There are great prospects for further increasing Uzbekistan's exports to the markets of Central Asian countries.

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2021-06-23 08:02:17 The digital revolution offers great opportunities for using remittances to drive affordable financial products and services and, as a result, to achieve the Sustainable Development Goals (#SDGs).

Renata Held, Regional Director of the International Organization for Migration # IOM and Simone Giger, Global Program Manager of the Swiss Agency for Development and Cooperation #SDC, shared how the financial sector can contribute to recovery from the pandemic.

Many Central Asian countries count on labour migration both as an employment strategy, and as a key contributor to their socioeconomic development through the transfer of remittances. These reduce poverty rates in the region by over five percentage points and benefit the poorest regions the most.

Survey reveals that two out of every three Central Asian migrants surveyed in the Russian Federation were negatively impacted by COVID-19.

Fully 77 per cent stated they had to either reduce or stop sending remittances altogether, with women migrants being the worst impacted.

The COVID-19 crisis accentuated a crucial question: What can be done to reinforce the key role of remittances as a tool for resilience and as a catalyst for development?

During the research, migrants who returned back to their countries told origin about their regrets, the overwhelming response we received was: “I wish I had managed my money better and saved more”.

Almost 61 per cent of Central Asian migrants who replied to our survey in the Russian Federation already use digital platforms to send remittances home.

However, the vast majority of recipients in Central Asia still receive cash, either through money transfer operators or banks.

This often excludes them from other services such as financial literacy programmes, insurance programmes, or savings accounts.

The research showed that only 29 per cent of people in the region who could receive remittances digitally.

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2021-06-22 10:59:47 The #Infographics of the Center for Economic Research and Reforms presents development of the automotive industry in Uzbekistan for 2016-2021

Musharraf Mir Ahmadova, an expert of #CERR analyzed the significant changes in the automotive industry of Uzbekistan over the past five years.

In the last 5 years, significant reforms have been made in the automotive sector:

- The volume of car production increased by 3 times to 280,000;
Long queues for the purchase of cars have been eliminated;
“Honesty vaccine” introduced and corruption eliminated;
In order to strengthen competition in the industry, the production of Volkswagen cars has been launched in Jizzakh region.

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2021-06-22 08:30:12 Uzbekistan has improved its position in the world ranking of Internet speed

Over the past year, the speed of the fixed Internet in Uzbekistan has increased by more than 1.5 times (an increase of 53.2%) from 26.45 Mbps in May 2020 to 40.54 Mbps (Download) in May 2021.

In terms of the speed of mobile Internet, Uzbekistan also improved its position compared to May 2020, rising immediately by 4 positions up.

Over the past year, the speed of mobile Internet, according to the Speedtest.net service, has grown from 11.26 Mbps in May 2020 to 18.56 Mbps (Download) in May 2021. The growth was 64.8% over the year.

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2021-06-22 07:58:42 #Infographics: Trade of Uzbekistan with Central Asian Countries for May 2021

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

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