November 1-30, 2020

Home , Alisher Usmanov, Andijan (village), Buloqboshi

UZBEKISATN– NOVEMBER 1-30, 2020

UZBEKISATN– NOVEMBER 1-30, 2020 ...... 1 TOP NEWS OF THE PERIOD ...... 2 Government intends to increase excise tax rates on petrol and diesel 2 Leading trade partners of Uzbekistan 2 POLITICS AND LAW ...... 3 Namangan plans to build an international business center: Alisher Usmanov to contribute to the implementation of the project 3 Uzbekistan rises in the Legatum Prosperity Index 3 Worldwide Cost of Living 2020 report: Tashkent among cheapest cities to live in 4 International Organization of Migration to open its office in Uzbekistan 4 Central Asia, EU reaffirm their commitment to build strong relations 5 Facilitating Uzbekistan's Accession to the WTO 7 Economy AND FINANCE ...... 8 Uzbekistan takes first place in the world in terms of gold sold in the third quarter 8 The National Venture Fund UzVC is being created 8 Diesel fuel production of Euro-4 and Euro-5 standards starts in Ferghana region 9 Food labelling is being introduced in Uzbekistan 9 BUSINESS ...... 10 New rates of customs duties approved 10 Uzbekistan improves its position in Nation Brands 2020 report 10 State Tax Committee launches a system for registration of electronic contracts 11 Switzerland, Germany, Belgium and Uzbekistan banking structure representatives discuss prospects in the investment sphere 11 List of 20 largest taxpayers in Uzbekistan announced 12 Project for the cultivation of industrial cannabis to be realized in Uzbekistan 13 Uzbek agriculture expands to new markets 13 Uzbekistan`s raisin exports soar to $42.5mn 14 The Austrian company to establish silk production in Tashkent 14 Agricultural products for export 14 Coca-Cola Uzbekistan working towards privatization 15 Uzbekistan imports over $64 million-worth mobile phones 15 UzAuto Motors takes up to €150 million syndicated loan to launch production of new models 15 Uzbekistan’s secondary car market estimated at $2 billion 16 Enterprises of Uzbekistan produce products worth 26.9 trillion soums. 16 Tourism AND CULTURE ...... 17 Austrian company invests in Uzbek mountains 17 New project for sustainable tourism in Central Asia 17 Tashkent hosts Virtual International Tourism Fair “Tourism on the Silk Road 2020” 18 A short list of films nominated for the Oscar nomination from Uzbekistan published 18 Exposition hall of the State Museum of History and Culture of the Republic of Karakalpakstan 19

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TOP NEWS OF THE PERIOD

Government intends to increase excise tax rates on petrol and diesel The government of Uzbekistan plans to increase the excise tax rates on gasoline and diesel fuel. This is stipulated by the draft law of the Republic of Uzbekistan "On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Adoption of the Main Directions of Tax Policy for 2021". The Ministry of Finance of Uzbekistan has published a draft law. According to the document, the rate of excise tax on gasoline Ai-80 as of 1 January 2021 will be 200,000 soums per ton, grade Ai-90 and above – 250,000 soums per ton, diesel fuel – 200,000 soums per ton, and also diesel fuel EKO – 180,000 soums per ton. From 1 February 2021, it is proposed to increase the excise tax rates on gasoline and diesel fuel. From February, it is proposed to set the rate of excise tax on Ai-80 gasoline at 240,000 soums per ton, Ai- 90 and above – 275,000 soums per ton, diesel fuel – 240,000 soums per ton, as well as diesel fuel ECO – 216,000 soums per ton. The government of Uzbekistan proposes to establish new rates of excise tax paid when selling gasoline, diesel fuel and gas to the end consumer. The document proposes to increase from 1 February 2021, the excise tax on gasoline and diesel fuel, paid upon sale to the end consumer, from 285 soums per liter to 350 soums per liter (or from 378,480 soums per ton to 465,530 soums per ton). From February 2021, the rate of excise tax on compressed gas when sold to the end consumer is proposed to be increased from 285 soums per liter to 350 soums per liter (or from 540 645 soums per ton to 665 493 soums per ton). At the same time, the rate of excise tax on liquefied gas when sold to the end consumer can grow from 435 soums per cubic meter to 500 soums per cubic meter. UzDaily – Uzdaily.com

Leading trade partners of Uzbekistan Uzbekistan’s foreign trade turnover has reached $30,059.4 million. In January-October, Uzbekistan’s foreign trade turnover reached $30,059.4 million, of which exports amounted to $13,329.1 million, and imports – $16,730.3 million. According to the State Statistics Committee, Uzbekistan cooperates with more than 160 countries of the world. The largest volume of foreign trade turnover was recorded with China (17.1 percent), Russia (15.1 percent), Kazakhstan (7.7 percent), the Republic of Korea (5.9 percent), Turkey (5.5 percent), Kyrgyzstan (2.4 percent) and Germany (2.1 percent).

Uzbekistan National News Agency – uza.uz

POLITICS AND LAW

Namangan plans to build an international business centre: Alisher Usmanov to contribute to the implementation of the project An international business centre will be built in the city of Namangan. The implementation of the project will be financed from the “Obod qishloq” program, which was largely sponsored by founder of USM Holding, Uzbek-born Russian billionaire Alisher Usmanov. According to the press service of the Namangan regional khokimiyat, on the territory of the complex with an area of 6 hectares, it is planned to build a congress hall, a business school, a hotel, an eco-park and a sports-recreation facility. Creating artificial lakes and fountains is also included in the master plan. The cost and timing of the project are not specified yet. It is known that construction will begin next spring. “It is planned to hold international symposia and business forums here. This will accelerate the flow of investment to Namangan and create ample opportunities for business tourism. The centre will become a unique brand of Namangan,” said regional khokim Shavkat Abdurazzakov. Alisher Usmanov has been providing large-scale, comprehensive assistance to Uzbekistan for many years. These funds, in particular, in the Namangan region are being directed to the “Obod qishloq” program aimed at the integrated development of the region. For these purposes, only last year, Usmanov transferred $50 million to improve the living conditions of the people. Noting the huge contribution of Alisher Usmanov to the development of the Namangan region, President of Uzbekistan Shavkat Mirziyoyev said that it is planned to open a youth business centre named after Alisher Usmanov in Namangan. In this centre, foreign specialists will train young people in business skills. This is a personal initiative of the President and the regional authorities. kun.uz

Uzbekistan rises in the Legatum Prosperity Index Uzbekistan has climbed from 102nd to 97th line in the Legatum Prosperity Index, the annual ranking of the Legatum Institute. The authors compare countries based on 12 criteria: Safety & Security, Personal Freedom, Governance, Social Capital, Investment Environment, Enterprise Conditions, Market Access & Infrastructure, Economic Quality, Living Conditions, Health, Education, Natural Environment. Uzbekistan remains weak in three categories: Natural Environment (157th place), Personal Freedom (147th place) and Governance (136th place). According to the index, the strengths of Uzbekistan are Social Capital (20th place), Health (43rd place) and Safety & Security (52nd place). In 2010, for the first time, Uzbekistan was included in the index and ranked 109th, consequently rising to 102nd in 2019.

kun.uz

Worldwide Cost of Living 2020 report: Tashkent among cheapest cities to live in Economist Intelligence Unit specialists have prepared the Worldwide Cost of Living 2020 report, within the framework of which a rating of the most expensive and cheapest cities in the world was compiled. Tashkent retained its place in the TOP-5 cheapest cities list, which also included Almaty, Caracas, Lusaka and Damascus. Zurich, Paris, Hong Kong, Singapore and Tel Aviv were named the most expensive cities to live in. The EIU’s Worldwide Cost of Living is a biannual survey that compares more than 400 individual prices across 138 products and services in 130+ cities worldwide, with the option of creating a customized city list as per client requests. kun.uz

International Organization of Migration to open its office in Uzbekistan An official ceremony of signing the Agreement on Cooperation between Uzbekistan and the International Organization for Migration (IOM) was held in Geneva. The document envisages the opening of a full- fledged Representative Office of the organization in Tashkent, Dunyo news agency reported. Uzbekistan became a full member of the IOM in 2019, which contributed to the intensification of cooperation between the republic and the organization. This interaction is growing steadily. As previously reported, during her visit to Geneva, Chairperson of the Senate of the Oliy Majlis of Uzbekistan Tanzilya Narbaeva met with IOM Secretary General Antonio Vitorino. At the end of the signing ceremony, Antonio Vitorino gave an exclusive interview to the Dunyo news agency, in which he cordially greeted Uzbekistan as the 173rd IOM member country and said that the dynamically developing cooperation with the Uzbek side is reaching a qualitatively new level. “Since the opening of the IOM office in Tashkent in 2015, we have been witnessing the growing interest and solid practical steps of the leadership of Uzbekistan to form an effective and modern migration management system,” he said. - The republic demonstrates openness to political and socio-economic reforms, pragmatism in its relations with neighbouring countries and achieves amazing results. We recognize and appreciate that President Shavkat Mirziyoyev personally prioritizes migration issues at the national level and actively participates in and supports regional and global initiatives dedicated to cooperation on international migration issues. It should be noted that Uzbekistan was among the first countries to support the Global Compact on Migration and demonstrates determination in its full implementation. Your country is also the first in the region to report on progress made at the national level in the implementation of the Global Compact. We welcome the adoption of the resolution of the President of the Republic of Uzbekistan "On measures to introduce a system of safe, orderly and legal labour migration" on 15 September 2020, which focuses on improving the activities of authorized bodies in the field of external labour migration, training people

wishing to work abroad professions in demand, protecting the rights of citizens during their stay abroad, ensuring the employment of returned labour migrants, as well as social support for their family members. We appreciate Uzbekistan’s efforts to support its citizens abroad, who are also suffering from the COVID- 19 crisis in foreign countries, and to assist those who have returned to the republic. We thank the Uzbek government for providing a safe corridor for hundreds of Tajik migrants affected by the pandemic to transport them from the Kazakh-Uzbek border to the border with Tajikistan. The current epidemiological situation also highlighted the need for even broader cooperation between countries, international organizations, government agencies, civil society organizations and the private sector. The agreement we signed today also marks our commitment to expanding such cooperation. I congratulate all of us on signing this important document and, on behalf of the IOM, once again welcome Uzbekistan to the expanding family of our organization. UzDaily – Uzdaily.com

Central Asia, EU reaffirm their commitment to build strong relations The Foreign Ministers of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan, as well as the European Union’s (EU) High Representative for Foreign Affairs and Security Policy/Vice- President of the European Commission and European Commissioner for International Partnerships held the 16th EU-Central Asia ministerial meeting on 17 November 2020. The meeting exceptionally took place through video-conference, given the restrictions caused by the Covid-19 pandemic. The participants reaffirmed their joint commitment to forging a strong, ambitious and forward-looking partnership that builds upon the strong mutual interests between the two regions. They reaffirmed their commitment to work together for peace, security, universal human rights, democracy and sustainable development in full respect for international law. The participants discussed the repercussions of the Covid19 pandemic for their respective regions and stressed their determination to work together to promote resilience, prosperity and a green, sustainable and inclusive post-Covid recovery. The Central Asian Ministers expressed strong appreciation for the “Team Europe” solidarity package worth EUR 134 million delivered to the region to meet the immediate needs of healthcare systems and address longer-term socio-economic challenges. The EU and Central Asian Foreign Ministers emphasised the particular relevance of the priorities set out in the EU Strategy on Central Asia adopted in 2019 in the current context and for the future development of the region. The EU reaffirmed its wish to strengthen its role as a partner for the Central Asian countries in their reform processes, as a supporter of their integration in the world trading system and of their efforts to work closely together. The EU commended initiatives aimed at promoting closer regional cooperation in Central Asia, including on border management, trade facilitation, people-to-people contacts and water management, as well as the intra-regional solidarity displayed during the Covid-19 pandemic, all of which the EU concretely supports through financial and technical means. The EU and Central Asian representatives reaffirmed the importance of progressing on the rule of law, democratic governance, gender equality and universal human rights, which is a key element for EU cooperation with its partners around the world. As this year marks the twentieth anniversary of UN Resolution 1325 on Women, Peace and Security and the twenty-fifth anniversary of the Beijing Platform for Action, the participants underlined the importance of promoting the full, equal and meaningful

participation of women and of civil society organisations in decision-making. They called for stepping up cooperation to create opportunities for youth in the region, including better access to quality education for all, especially girls, and decent work. The EU and Central Asian Foreign Ministers welcomed mutual cooperation in healthcare and education, as key factors in the sustainable socio-economic development of the region. The EU encouraged continued progress in the implementation of the Paris commitments on climate and in the region’s transition towards a green economy, including sustainable energy, aiming for carbon neutrality. The EU called on Central Asian countries to submit new enhanced Nationally-Determined Contributions (NDCs) by the end of 2020. The EU welcomed the active participation of Central Asian countries in the ongoing negotiations for the modernisation of the Energy Charter Treaty. The EU and Central Asian Foreign Ministers underline that science, technology and innovation play a key role in accelerating the pace of economic diversification and transformation, improving productivity and competitiveness, as well as enabling the full participation of the Central Asian countries in the global economy. The European Union and Central Asia countries stressed the importance of further cooperation in science, technology and innovation, including through the creation of an enabling environment. The EU and Central Asian Ministers expressed appreciation for progress in EU-Central Asia cooperation in security and counter-terrorism, as well as expanding cooperation in the joint fight against transnational organised crime, human trafficking, transnational drug trafficking and cybersecurity threats. The EU and Central Asian Foreign Ministers welcomed the outcomes of the High-Level Conference on “International and Regional Cooperation on Countering Terrorism and its Financing Through Illicit Drug Trafficking and Organized Crime” hosted by the Government of the Republic of Tajikistan in cooperation with the EU, UN, the OSCE and other international and regional organisations. The EU and Central Asian Foreign Ministers welcomed the initiative of the Government of Turkmenistan to host on 12 December 2020, in Ashgabat, an International conference “Policy of Neutrality and its Importance in ensuring International Peace, Security, and Sustainable Development” devoted to the 25th anniversary of international recognition of the Status of Permanent Neutrality of Turkmenistan, as well as to organise an International High-Level Forum in the year of 2021, which has been declared by the United Nations General Assembly as the International Year of Peace and Trust. The participants welcomed the Group of Friends of Neutrality for peace, security and development formed on the platform of the United Nations at the initiative of the Government of Turkmenistan. The participants stressed the need to intensify cooperation in the promotion of sustainable connectivity between Europe and Asia in infrastructure, transport and digital, building upon the EU’s Strategy on Connecting Europe and Asia and on the opportunities that would be provided under new EU financial instruments to leverage private investment in the region. They welcomed Uzbekistan’s proposal to host in 2021 an “EU-Central Asia Ministerial Conference on Connectivity and Sustainable Development”. The participants agreed that a complete and immediate ceasefire be needed to advance in the comprehensive intra-Afghan reconciliation process, and a peaceful and prosperous Afghanistan free of terrorism is necessary for the development of the entire region. In this context, participants reaffirmed their joint commitment to enhance cooperation to promote an inclusive peace process, the universal human rights of all Afghans and sustainable development in Afghanistan. In this regard, the Participants noted the importance of the 9th Ministerial Conference of the Heart of Asia- Istanbul Process to be hosted by the Republic of Tajikistan in Dushanbe. The Ministerial video-conference provided an opportunity to proceed with a fruitful and constructive exchange of views on the programming of EU aid for the budget cycle 2021-2027.

The participants stressed the importance of Enhanced Partnership and Cooperation Agreements (EPCAs) as a cornerstone of relations between the EU and the Central Asian countries. The participants commended the recommendations made at the “EU-Central Asia Civil Society Forum” of 27 October 2020 and confirmed their determination to organise the first-ever “EU-Central Asia Economic Forum” in Bishkek in 2021. They welcomed these events as key opportunities for the civil societies and business communities of the two regions to contribute to the development of the EU-Central Asia partnership. The EU and Central Asian representatives welcomed Uzbekistan’s proposal to host an “EU- Central Asia Tourism Forum”. The Participants expressed their deep appreciation to the European Union for hosting the virtual Meeting and agreed to meet in Dushanbe in 2021. UzDaily – Uzdaily.com

Facilitating Uzbekistan's Accession to the WTO The International Trade Center (ITC) will implement the European Union’s ‘Facilitating the process of Uzbekistan’s accession to the WTO’ project is a five-year initiative implemented by the International Trade Centre (ITC). The project aims to support Uzbekistan's development plans to modernize its economy by leveraging its WTO accession process. The project was launched on November 10 jointly with the Ministry of Investment and Foreign Trade of Uzbekistan (MIFT) during an online event. The objectives of the project are to contribute to the economic development of Uzbekistan by assisting the country to create a trade environment that is in conformity with international standards, including predictable and enforceable laws and regulations and to Uzbekistan's economic development through the creation of a trade environment that is in conformity with the WTO rules. If the Uzbekistan's WTO accession process concludes within the implementation phase of the project, the focus of ITC's assistance will shift to support Uzbekistan's compliance with WTO requirements and implementation of the commitments made during the accession process. Who are the beneficiaries? The primary beneficiary of the programme will be the ministry responsible for the WTO accession negotiations: the Ministry of Investment and Foreign Trade (MIFT). Other direct beneficiaries will include the various government departments/agencies involved in both the pre- and post- WTO accession process. The project will also work closely with the Uzbekistan Chamber of Commerce and Industry, as well as sectoral business organizations and associations, export-import enterprises, universities, economic research centers and civil society organizations, including women, youth and consumer associations. The ultimate stakeholders will be the Uzbek businesses, especially SMEs as well as the consumers, in particular women, youth and people living in vulnerable and marginalized situation. The process of Uzbekistan's WTO accession was initiated in 1994, but was frozen in 2005, due to the self- sufficiency policy that was instituted during that time. Fast forward to 2016, where shortly after his election, President Mirziyoyev initiated a broad package of socio-economic reforms and transformation aimed at trade liberalization and modernization of domestic

trade regime. Following these reforms, the process of accession to the WTO was renewed through a formal application to the WTO Secretariat signed by the Minister of Foreign Trade in March 2018. In July 2019, Uzbekistan circulated its updated Memorandum of Foreign Trade Regime (MFTR) to the WTO members, as well as later on a number of other required WTO accession documents, including initial market access offers on goods and services. The progress made by Uzbekistan resulted in the support by WTO members in carrying out the 4th Working Party on the accession of Uzbekistan to the WTO, which took place on July 7th, 2020 after almost fifteen years of standstill in the negotiations. This milestone event has marked Uzbekistan's return to the negotiating table and its government's dedication and efforts made towards joining the WTO membership. Next developments in the accession process will depend on the progress achieved in upcoming bilateral and multilateral negotiations as well as the alignment of Uzbekistan's trade regulatory regime with the WTO rules and regulations. Tashkent Times – tashkenttimes.uz

ECONOMY AND FINANCE

Uzbekistan takes first place in the world in terms of gold sold in the third quarter Uzbekistan took the first place in the world in terms of the volume of gold sold in the third quarter of 2020. It was reported by the World Gold Council (WGC). According to the Council, the Central Bank of Uzbekistan sold 35 tonnes of gold in the third quarter. In July alone, Uzbekistan sold 11.6 tonnes of gold. Turkey ranked second in terms of gold sold in the third quarter of 2020. During the reporting period, the country sold 22 tonnes of gold. In the third quarter of 2020, according to the Council, Russia sold 1,2 tonnes of gold. UzDaily – Uzdaily.com

The National Venture Fund UzVC is being created The UzVC National Venture Fund is being created in Uzbekistan. The government of Uzbekistan issued a resolution on organizing the activities of the UzVC National Venture Fund. According to the resolution, the initial authorized capital of the venture fund will be 15 billion soums. The authorized capital will be formed at the expense of the state budget allocated to the Ministry of Innovative Development. The State Assets Management Agency will receive a 100% stake in the UzVC venture fund. At the same time, it is planned that a private company, selected by the results of the tender, will manage the venture fund. UzDaily – Uzdaily.com

Diesel fuel production of Euro-4 and Euro-5 standards starts in Ferghana region A GDS unit has been launched at the Ferghana refinery, which will make it possible to produce diesel fuel of Euro-4 and Euro-5 standards. Within the framework of the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 67, a phased implementation of the investment project "Modernization and reconstruction of the Ferghana oil refinery" is being carried out at the Ferghana refinery. According to the press service of the Ministry of Energy, in the period 2020-2023, a phased implementation of the hydrocracking process (a method of obtaining fuel) and the launch of production of AI-92 motor gasoline, as well as Euro-5 diesel fuel, are envisaged at the Ferghana refinery. The start of production of a line of Euro 4 and Euro 5 products from 5 November 2020, will mark the completion of the first stage of the plant modernization, for a total amount of US$300 million. As part of the project, a contract was signed with the French company Axens for the manufacture and supply of a catalyst in order to replace the existing catalyst of the GDS unit, which was commissioned in 1999, with a more modern and highly efficient one. The unit was designed and tied to the plant facilities by the Toyo Engineering Corporation (Japan), its design capacity is 1,700,000 tons / year. The changes made will improve the quality of Euro 2 diesel fuel sold by the plant to meet Euro 4 and Euro 5 standards, contributing to the reduction of sulfur emissions into the atmosphere, expanding export opportunities and increasing the attractiveness of tolling operations. In addition, the Ferghana Refinery will begin mass production of winter diesel fuel, which has not been previously produced and purchased abroad. Thus, the plant’s specialists carried out a whole cycle of laboratory research, industrial testing and production of a new low-solidifying winter fuel of the DTZ-2 brand. As a result, winter diesel fuel with a pour point no higher than -25 ° C and a maximum filterability temperature of no higher than -18 ° C will become available to the mass consumer on the petroleum product trade exchange. It should be noted that, in addition to low-solidification properties, real diesel fuel has improved operational properties, which will provide high power and efficiency of the engine, easy pumping through the fuel line and ease of cold start. UzDaily – Uzdaily.com

Food labelling is being introduced in Uzbekistan Labelling of food products with signs indicating the safety or harm to human health of the amount of salt, sugar and fat contained in their composition is being introduced. Wherein: From 1 July 2021: - labelling of food products is carried out on a voluntary basis; - it is not allowed to sell food products in educational, sports and medical institutions that are not marked with a safety mark, the sale of these products is regarded as a violation of trade rules

Starting from 1 January 2025, food products imported into the territory of the republic, as well as those produced in the republic for sale, are necessarily marked with signs indicating their safety or harm to human health. The determination of the safety or harm of food products to human health is carried out by state sanitary inspection bodies. UzDaily – Uzdaily.com

BUSINESS

New rates of customs duties approved The new customs duty rates provide for the expansion of the range of paid services rendered by the state customs service and fixed rates of customs duties. It is noted that some types of customs duties related to the issuance of permits will be abolished and brought in line with international standards. The rates of duties for customs clearance of goods under the regimes “processing in the customs territory” and “processing outside the customs territory” will be reduced, the document says. Also, instead of administrative liability for non-compliance with the terms of delivery of goods transported under customs control, customs duty is introduced as a financial measure. New rates of customs duties approved The rates of customs duties were approved by the relevant decision of the Government, UzA reports. The new customs duty rates provide for the expansion of the range of paid services rendered by the state customs service and fixed rates of customs duties. It is noted that some types of customs duties related to the issuance of permits will be abolished and brought in line with international standards. The rates of duties for customs clearance of goods under the regimes “processing in the customs territory” and “processing outside the customs territory” will be reduced, the document says. Also, instead of administrative liability for non-compliance with the terms of delivery of goods transported under customs control, customs duty is introduced as a financial measure. kun.uz

Uzbekistan improves its position in Nation Brands 2020 report According to Brand Finance, top 100 nation brands lost $13.1 trillion of brand value in 2020 because of the COVID-19 pandemic. “2020 has put the nations of the world to the test – from the economic impacts of COVID-19 on nations’ GDP forecasts, inflation rates, and general economic uncertainty, to diminished long term prospects. Brand Finance estimates that the total brand value of the top 100 nation brands dropped from $98.0 trillion in 2019 to $84.9 trillion in 2020, with almost every nation feeling a significant impact of the health crisis on their respective economies,” the report reads.

The US and China remain a cut above the rest, claiming first and second position in this year’s ranking, recording brand values of $23.7 trillion and $18.8 trillion respectively. Ireland has bucked the negative trend this year as the only nation brand in the top 20 to record a positive brand value growth, up 11% to $670 billion. Uzbekistan ranked 61st, up by 9 lines compared to the previous year’s indicator. The best indicator in Central Asia is in Kazakhstan – 44th place, Spot says citing the document. “Vietnam is the fastest-growing nation brand in this year’s ranking, its brand value skyrocketing 29% to $319 billion. Vietnam, which has recorded staggeringly low COVID-19 cases and deaths, has emerged as one of the top locations within the Southeast Asian region for manufacturing, and has become an increasingly attractive destination for investors – particularly from the US – that are looking to relocate their China operations following the fallout from the US-China trade war. Recent trade deals with the EU are supporting the growth of the nation further,” the report reads. kun.uz

State Tax Committee launches a system for registration of electronic contracts The State Tax Committee of Uzbekistan (STC) has launched a system for registering electronic contracts. This was reported by the press service of the committee. The system is available on the portal of electronic tax services - my.soliq.uz (in the section "services in test mode"). The main goal of the system is to create an open and transparent unified platform for relations between an economic entity and a counterparty. Agreements concluded between business entities can be voluntarily registered electronically in the taxpayer’s personal account and summarized in the Unified Information System of Electronic Agreements. This will improve the efficiency of business entities through the automation of office work in accordance with the deadlines in the delivery of goods or the provision of services. The system assigns a unique number to the registered agreement. At the next stage of improving the system, based on this unique code, such primary documents as electronic invoices, power of attorney, act of completion, and consignment note are automatically generated. UzDaily – Uzdaily.com

Switzerland, Germany, Belgium and Uzbekistan banking structure representatives discuss prospects in the investment sphere An online webinar has been held with participation of representatives of banking structures, companies and organizations from Switzerland, Germany, Belgium and Uzbekistan. The event was organized by the Joint Chamber of Commerce Switzerland-CIS (JCC) and Germany’s Commerzbank Representative Office in Tashkent. JCC Chairman Thomas Anwander informed the participants about new trade and economic processes in Uzbekistan, created favourable conditions for doing business.

According to Thomas Anwander, the reforms carried out in Uzbekistan in political, legal, banking and financial spheres contribute to further opening of the country’s economy to foreign investors and the implementation of joint mutually beneficial business projects. Representative of the Consulate General of Uzbekistan in Frankfurt, in turn, acquainted the participants with the key economic indicators of Uzbekistan, the announced course of the state-owned enterprises privatization. Following the webinar, views were exchanged on certain issues of interest to foreign representatives. Uzbekistan National News Agency – uza.uz

List of 20 largest taxpayers in Uzbekistan announced Budget revenues will largely depend on the economic situation in these companies. The Ministry of Finance has announced the largest taxpayers in Uzbekistan, Spot writes. It is predicted that these 20 companies in 2021 will provide 47.3% of state budget revenues: NMMC – 20.1%. AMMC – 6.4%. Uzbekneftegaz – 5.1%. Uztransgaz – 3.3%. LUKOIL Uzbekistan Operating Company – 3.1%. Uzbekenergo – 2.3%. UzBat – 1.7%. UzAuto Motors – 1.5%. Beeline – 0.5%. Ucell – 0.5%. Uztelecom – 0.5%. Uz-Kor Gas Chemical – 0.4%. Shurtan Gas Chemical Complex – 0.3%. Tashkentvino – 0.3%. Mobiuz – 0.2%. Uzbekistan Railways – 0.2%. Tashkent Tobacco – 0.2%. Uzmetkombinat – 0.1%. Akhangarancement – 0.1% Kizilkumcement – 0.5%. The ministry notes that the budget revenues of Uzbekistan next year will largely depend on the economic situation in these enterprises.

The list, unlike previous years, does not include such companies as Coca-Cola, Fergana Oil Refinery, Muborakneftegaz, Bukhara Oil Refinery and others. kun.uz

Project for the cultivation of industrial cannabis to be realized in Uzbekistan A memorandum of cooperation on the cultivation of cannabis for medical purposes was signed between the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan and the Maltese company Melabis, the information service of the Syrdarya regional khokimiyat said in a statement. According to the memorandum, it is planned to implement a project to grow industrial cannabis on 3 thousand hectares of land in Sardoba district. In the first year, it is planned to plant cannabis on 500 hectares, and in the next three years to expand the area of cultivation of this crop to 3 thousand hectares. The climate of Central Asia is the most favourable for the cultivation of cannabis. It consumes 10 times less water than cotton. Most importantly, its cultivation is strictly for medical use only, UzA reports. According to experts, when this plant is processed industrially and turns into a finished product, the content of tetrahydrocannabinol (THC) in it is only 0.1-0.2 percent, which does not allow its use for other purposes and ensures full compliance with the requirements of the World Organization health care (WHO). An initial investment of US$33 million is planned for the implementation of this project. In addition, it will also be necessary to build a high-tech plant and corresponding laboratories for processing raw materials in Syrdarya region. This, in turn, guarantees the creation of 100 new jobs. It is envisaged that the finished products after processing will be mainly sent for export. UzDaily – Uzdaily.com

Uzbek agriculture expands to new markets Uzbekistan has received a phytosanitary permit to export agricultural products to a number of new countries, Uzdavkarantin inspection said November 26. From now on, the country can export radish to markets of the European Union, Japan and South Korea. Carrots can be exported to Japan and South Korea. Agricultural companies can now export onions to South Korea, the United States and Japan. Markets in China, Japan, India, Myanmar and Ghana have opened up for Uzbek melons. Pistachios from Uzbekistan can be delivered to the markets of India, the Philippines, Japan, Bangladesh, Iran, Morocco, Pakistan and Jordan. Uzbekistan National News Agency – uza.uz

Uzbekistan`s raisin exports soar to $42.5mn Uzbek raisins this year have also expanded to new markets of Canada, France, Pakistan, Moldova, Italy, Bangladesh and South Korea. Uzbekistan exported 31.5 thousand tons of raisins worth $42mn over the past ten months of 2020, the state customs committee reported on November 27. 28% of goods were delivered to China, 14% to Kyrgyzstan, and 10% to Turkey. Raisin exports to the Netherlands soared by 7.4 times, to Mongolia-4.2 times, and to Greece – 1.5 times. Uzbek raisins this year have also expanded to new markets of Canada, France, Pakistan, Moldova, Italy, Bangladesh and South Korea. uzreport. news

The Austrian company to establish silk production in Tashkent The Embassy of Uzbekistan has organized virtual talks between the Hokimiyat of Tashkent region and the Austrian investment company Parsalpine GmbH to launch new investment projects. The meeting was attended by the Deputy Hokim of Tashkent region Jamshid Abdusalamov, Managing Director of Parsalpine GmbH Ahmad Ramazani, representative of the Austrian company in Uzbekistan Ibrahim Sakali and Ambassador of Uzbekistan to Austria Abat Fayzullayev. At the meeting, the parties reached an agreement on implementation of a new investment project for the production of silk products in Tashkent region. The project will include a full cycle of silk production: cultivation of silkworm cocoons, production of high-quality silk thread, as well as production of silk fabrics on the basis of a new enterprise for leading Italian brands. An exhibition hall with a demonstration of the production process of silk products and finished products will also be created on the territory of the enterprise, which in the future will become one of the tourist destinations.

Uzbekistan National News Agency – uza.uz

Agricultural products for export Nectar Agro LLC in Andijan region’s Buloqboshi district has organized a greenhouse on 2,5 hectares of land. Nectar Agro LLC in Andijan region’s Buloqboshi district has organized a greenhouse on 2,5 hectares of land. It plans to grow 200 tons of tomatoes and 100 tons of cucumbers. 42 tons of tomato seedlings are grown at the moment. Almost 75 percent of products are exported to the neighbouring countries. There are greenhouses on 148 hectares in Asaka, Buloqboshi, Jalolquduq, Khujaobod and Andijan districts, specializing in the cultivation of vegetables and fruits. About 13 thousand tons of products were grown in the greenhouses, almost 70 percent of which were exported to Russia, Belgium, Kazakhstan and Kyrgyzstan. Uzbekistan National News Agency – uza.uz

Coca-Cola Uzbekistan working towards privatization Leading international consultants were involved into the process, including investment bank Rothschild & Co (financial adviser), law firm Dentons (legal adviser), as well as KPMG (preparation of financial and tax reports, as well as the assessment of the state share in the company's authorized capital). Uzbekistan plans to sell its 57.118% share in the authorized capital of Coca-Cola Bottlers Uzbekistan, Ltd, agency for state asset management said on November 23. Leading international consultants were involved into the process, including investment bank Rothschild & Co (financial adviser), law firm Dentons (legal adviser), as well as KPMG (preparation of financial and tax reports, as well as the assessment of the state share in the company's authorized capital). Companies with operational experience, sufficient financial and managerial resources to implement the transaction, and those seeking long-term investment opportunities can attend the tender. uzreport. news

Uzbekistan imports over $64 million-worth mobile phones As of November 1 this year, Uzbekistan imported 781.7 units of mobile phones worth $64.6 million. According to the State Statistics Committee, during the reporting period, Uzbekistan imported mobile phones from 19 countries. TOP-5 countries whose mobile phones the republic imported in January-October 2020 include: China (556.6 thousand units) Vietnam (143.4 thousand units) India (36.7 thousand units) The UAE (23.9 thousand units) Russia (11.3 thousand units) According to the report, Uzbekistan produced 235,000 units of mobile phones worth 31.7 billion soums in 2019. kun.uz

UzAuto Motors takes up to €150 million syndicated loan to launch production of new models The money will go to finance investment projects to launch the production of new models. UzAuto Motors and the London branch of Credit Suisse AG signed an agreement on an international syndicated loan of up to €150 million, the press service of the company said. Syndicated loan – is financing offered by a group of lenders—referred to as a syndicate—who work together to provide funds for a single borrower.

The money received under this agreement will be used to finance investment projects, modernize production lines and increase working capital. All this, in turn, will allow UzAuto Motors to launch the production of new GM models. The company participates in international syndicated lending for the first time. In August, Qishloq Qurilish Bank became the first bank in Uzbekistan to take such a loan. kun.uz

Uzbekistan’s secondary car market estimated at $2 billion On the secondary car market of Uzbekistan, about 400-500 thousand contracts of purchase and sale are carried out annually. The market volume per year is approximately $2 billion, follows from the data of the Center for Economic Research and Reforms (CERR). The total number of passenger cars in the country is more than 3 million units. It is noted that for a long time in Uzbekistan, prices for cars did not depend on the year of production, but recently the situation has begun to change. This is largely due to the reduction in barriers to purchasing a new car. Preliminary analysis showed that, on average, one year of vehicle wear and tear lowers the price by about $600. However, this method does not take into account other characteristics of the car and the non-linearity of the relationship between price and year of manufacture, when the decline in price accelerates as the car becomes obsolete. Therefore, an attempt has been made to use an alternative method that takes into account these disadvantages. According to the results of the econometric modelling method, all other things being equal (when comparing cars of the same brand, place of sale and colour), car wear for one year leads to a decrease in its cost by an average of about $300-400. At the same time, the analysis showed that the distance does not significantly affect the price. This can be explained by the fact that the year of manufacture may already reflect the mileage or the prevalence of the practice of turning the indicator on the odometer back. At the same time, for cars of the same brand, position, year of manufacture, accessories, toning increases the price by an average of about $350. The presence of an air conditioner increases the price of a car by $170-200, an audio system – by $100-120, Bluetooth – by $240, tinted windows – by $220 and lensed optics on premium cars – by $420. kun.uz

Enterprises of Uzbekistan produce products worth 26.9 trillion soums. In January - October 2020, 4,886 operating textile enterprises of Uzbekistan produced products worth 26.9 trillion soums. The index of the physical volume of textile production compared to January-October 2019 was 112.3%.

At the same time, production of cotton yarn increased by 8.7%, cotton fabrics containing 85% or more of cotton fibres-by 18.8%, packaging bags and packages by 24.4c. The largest share in the total production of textile products by enterprises of Uzbekistan falls on the Ferghana region 14.9% (724 operating enterprises), Tashkent region 10.5% (393), Samarkand region 10.2% (359), Bukhara region 8.4% (321) and the city of Tashkent 8.4% (797). In January-October 2020, the export of textile products made up US$1.52 billion, which accounted for 11.4% of the total export volume of the Republic and increased by 15.9% compared to the corresponding period last year. Since the beginning of the year, 522 types of textile products have been exported to 65 countries. UzDaily – Uzdaily.com

TOURISM AND CULTURE

Austrian company invests in Uzbek mountains According to the state tourism committee, Doppelmayr technical specialists visited mountainous districts Bostanlyk and Zaamin to study the location for the construction of new cableways. Deputy Prime Minister of Uzbekistan, chairman of the state committee for tourism development Aziz Abdukhakimov met with the Director of the Austrian company Doppelmayr for CIS countries Valery Yashin. The parties discussed the development of cableways in Uzbekistan. According to the state tourism committee, Doppelmayr technical specialists visited mountainous districts Bostanlyk and Zaamin to study the location for the construction of new cableways. "Two chairlift cable cars and three ski lifts will be built in Zaamin to serve the ski slopes," Aziz Abdukhakimov said. In addition, it is planned to build an additional gondola-type cable car in Amirsoy, as well as several lifts that will serve the ski slopes. It is also planned to build two observation cable cars of the gondola type. As part of this mission, negotiations were held to accelerate these projects. Doppelmayr's technical specialists arrived and started topographical and engineering surveys, geological works, to determine the routes of cable cars and chairlifts. Following the meeting, an agreement was reached to sign a Memorandum of cooperation on the development of cableways in Uzbekistan, in particular in Bostanlyk and Zaamin districts. uzreport. news

New project for sustainable tourism in Central Asia The new project “Model for sustainable tourism in Central Asia” is being implemented jointly with the EU. The new project “Model for sustainable tourism in Central Asia” is being implemented within the framework of the initiative of the European Union “Switch Asia” and involves the conduction of

educational trainings and courses for representatives of travel companies and hotel business, which are held via webinars. A team has been formed from effectively working organizations from Greece, Cyprus, Latvia, Kazakhstan, Tajikistan and Uzbekistan for successful implementation of the project. Association of Private Tourism Agencies of Uzbekistan (APTA) has been selected as the executing organization of the project in the country. The new project promotes sustainable tourism in Central Asia through implementation of ISO standards related to green procurement and eco-labelling. Elaborates Guidelines on sustainable consumption, including usage of water, energy and recyclable waste. Promotes the sharing of the EU best practices such as legislative frameworks and regulations, while applying needed ICT and marketing tools. Uzbekistan National News Agency – uza.uz

Tashkent hosts Virtual International Tourism Fair “Tourism on the Silk Road 2020” Prospects for improving the tourism industry after Covid-19 and development of “Uzbekistan. Safe travel guaranteed” system, as well as the role of youth, digital technologies in tourism industry have been discussed at TITF. Prospects for improving the tourism industry after Covid-19 and development of “Uzbekistan. Safe travel guaranteed” system, as well as the role of youth, digital technologies in tourism industry have been discussed within the framework of Tashkent International Tourism Fair (TITF) “Tourism on the Silk Road 2020”. UNWTO Secretary-General Zurab Pololikashvili delivered a speech at the opening ceremony of the TITF. An official website of TITF-2020 is developed, which will broadcast conferences on the Zoom platform. All interested persons can take direct part in the sessions by registering in advance on the website, or watch conferences in real time. Leading tourism experts from Singapore, Russia, the UK, India, France, Germany, Kazakhstan and Uzbekistan are taking part in TITF 2020. Sessions will be organized on improving the tourism industry after Covid-19, investments for tourism recovery after the pandemic, improving access to the market of Western European countries, safe travel guaranteed system in Uzbekistan. Uzbekistan National News Agency – uza.uz

A short list of films nominated for the Oscar nomination from Uzbekistan published It is expected that one of the films from Uzbekistan will be nominated for the 93rd Oscar in the Best International Feature Film nomination. This was reported by the International Multimedia Project "Cultural Heritage of Uzbekistan".

Nominated for the nomination were Uzbek films made by order of the Uzbekkino National Agency “Ibrat” by Jakhongir Kasymov, “Colourless Dreams” by Ayub Shakhobiddinov and “Two Thousand Songs of Farida” by Yolkin Tuychiev. On 20 November, the Oscar Committee of Uzbekistan will announce the final decision on the nominee for the most prestigious ceremony on the planet, which will be held on 25 April 2021 at the famous Dolby Theatre in Los Angeles. According to the Oscar rules, films of the nominees must not be shown on television or on the Internet prior to presentation. In the spring of 2019, on the initiative of the Youth Union of Uzbekistan, the National Film Commission of Uzbekistan and the Uzbekkino National Agency established and registered the Oscar Committee of Uzbekistan by the US Film Academy. For the first time, Umid Khamdamov’s film "Hot Flatbread" was nominated for a prestigious award from Uzbekistan. UzDaily – Uzdaily.com

Exposition hall of the State Museum of History and Culture of the Republic of Karakalpakstan The State Museum of History and Culture of the Republic of Karakalpakstan is one of the oldest museums in Central Asia. Its history began in 1929 with an exhibition organized by the Society of Regional Studies of Karakalpakstan in Turtkul. Currently, the museum is located in Nukus and has more than 65,000 exhibits, divided into three sections: nature, archaeology and ethnography, and modern history. The museum displays the fossilized remains of ancient animals and plants, stuffed rare and already extinct birds and animals of the Aral Sea region. The exhibit "The Last Turanian Tiger" is unique. Such tigers were widely inhabited from Altai to the Black Sea, but these animals were exterminated because of their beautiful skin. The last tiger was killed in the Amu Darya delta by local residents in 1949. Upon learning of this, the director of the Museum of Local Lore, took all measures to ensure that the carcass of the tiger ended up in the museum, and to preserve it at least as a stuffed animal. Archaeological expositions contain unparalleled artefacts and models of ancient settlements of Khorezm. In particular, a capital in the form of an animal with a ram’s horns, but with a human face, carved more than 2500 years ago from the stones of the Sultanuizdag Mountains. The bronze cauldron of the 6th – 5th centuries is unique. BC, on three legs, similar to the legs of animals, its handle is shaped like a horse. The ethnographic expositions display an old folk costume, jewellery, yurt decoration, carpets, traditional musical instruments, edged weapons and armour, horse equipment. Historical expositions are represented by manuscripts and early printed books, coins, portraits of epic heroes and historical figures, and photographs that reflect the development of the region since the beginning of the 20th century. UzDaily – Uzdaily.com

CIS Council for Cultural Cooperation Meeting CIS Council for Cultural Cooperation meeting has taken place.

A meeting of the Council for Cultural Cooperation of the Member States of the Commonwealth of Independent States has taken place, via videoconference. The meeting was attended by representatives of Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Uzbekistan, Turkmenistan, National Historical Museum of Belarus, Gnessin Russian Academy of Music, International Delphic Committee and CIS Executive Committee. Members of the Council heard information about the state policy in culture in Uzbekistan, summed up the results of implementation of the main activities in culture for 2016-2020. The participants discussed the implementation of a similar document for 2021-2025, as well as the development of a draft plan of measures dedicated to the Year of Folk Art and Cultural Heritage, which is planned to be announced in the CIS in 2022. Representatives of the Commonwealth countries positively assessed the implementation of the program “Shymkent is the cultural capital of the Commonwealth in 2020”. The status of “Cultural capital of the Commonwealth” will pass to Dushanbe in 2021. The participants approved the Draft Concept of the Virtual Museum of Cultural Heritage of the CIS Countries and the Plan of Main Activities for the Creation and Development of the Virtual Museum, and decided to develop a Draft Regulation on the Museum. It was noted that the section – museum cataloguer that have virtual expositions on their web resources was created on the website of the Executive Committee of the Commonwealth. Uzbekistan National News Agency – uza.uz