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March 17, 2017

President Shavkat Mirziyoyev receives EBRD President

On 16 March President of the Republic of Uzbekistan Shavkat Mirziyoyev received President of the European Bank for Reconstruction and Development Suma Chakrabarti, who is on a visit to our country.

The Head of state, welcoming the guest, particularly underlined the significance of developing a mutually beneficial and long-term cooperation between Uzbekistan and the EBRD.

Prospective programs and projects in the sphere of supporting small business and entrepreneurship, banking and finance sector, infrastructure modernization, primarily in rural areas, as well as creating modern manufacturing facilities in an agro-industrial complex, chemical and petrochemical industry, metallurgy, electronics and other spheres were marked as priority spheres of colloboration.

It should be highlighted, that for the past period of our cooperation 54 projects with the EBRD commitment for over 500 million US dollars have been implemented in different sectors of the Uzbekistan’s economy.

A particular attention was attached during the talks to developing a joint Cooperation program for the future as well as conducting joint events on a comprehensive support and sustenance to small business projects.

EBRD President Suma Chakrabarti expressed a sincere gratitude to President Shavkat Mirziyoyev for the warm welcome and support in developing bilateral relations, as well as the willingness to strengthen a long-term and full-scale cooperation with Uzbekistan.

In accordance with the program of the visit to Uzbekistan, the EBRD President held negotiations at the Senate of the Oliy Majlis of the Republic of Uzbekistan, the Cabinet of Ministers, ministries and agencies. Following the meetings, the Memorandum of cooperation between the Republic of Uzbekistan and the EBRD and the Agreement on implementing technical assistance project in an environmental sphere were signed.
(Source: UzA)

Meeting with EBRD President

On March 16, 2017, the Minister of Foreign Affairs of the Republic of Uzbekistan Abdulaziz Kamilov met with the President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti, who arrived in Uzbekistan as head of a representative delegation of the EBRD.

The sides discussed prospects for strengthening relations between Uzbekistan and the bank in terms of renewing full-fledged, constructive and mutually beneficial cooperation.

As has been highlighted, the participation of the EBRD in the implementation of the provisions of the Strategy on five priority directions of development of Uzbekistan in 2017-2021, and in other adopted decisions aimed at large-scale reforms and profound transformations in our country is a matter of mutual interest.
(Source: Press Service of the MFA of the Republic of Uzbekistan)

Uzbekistan announces March 20 day off

On 16 March, President of the Republic of Uzbekistan adopted a resolution on shifting of the days in connection with the celebration of the national holiday Navruz (21 March).

According to the decree of the head of state, the day off on Saturday, March 18 shifts to Monday, March 20. Saturday, March 18 is declared a working day.
(Source: UzReport.uz)

There are plans afoot to lay saffron plantations on more than 50 hectares in 23 districts of Uzbekistan. The feedstock will be used in the pharmaceutical industry, and then ready products will be exported

Nowadays, saffron is grown in more than a dozen nations, including Iran, Turkey, Azerbaijan, Russia, China, India, Australia.

Scientists of the Botanical Garden of the Academy of Sciences of Uzbekistan conducted research on the feasibility of cultivation of this plant in our country. The results showed that the saffron fully corresponds to soil and climatic conditions of the republic, can be grown in the mountain and foothill areas of the Fergana Valley, Tashkent, Samarkand, Kashkadarya, Surkhandarya, Navoi and Jizzakh regions, and in inter-rows in vineyards and gardens.

In complementary medicine, saffron has long been used for treatment of many diseases. Abu Ali ibn Sino wrote that saffron tincture improves eye vision, the work of the heart and respiratory system.

Today, saffron is widely used in medicine and food industry. The stigma of saffron contains more than 50% of the coloring matter, 2.7% of fats, 0.32% of essential oils, vitamins B, B2, nitrogenous substances, sugar, potassium and calcium compounds. Owing to aroma, bright color and taste, saffron is also used as a spice in meals, confectionery products, creams, ice cream. Foods with saffron additions remain fresh longer.

2017 will mark laying of saffron plantations on four hectares in the Yakkabag and Kitab districts in the Kashkadarya region, and on three hectares in the Shahrisabz district. The cultivation of saffron will allow expanding the procurement of the valuable raw material in local conditions, using it in the pharmaceutical industry, and exporting it as food spices.

In the course of scientific research, domestic scientists revealed that climatic conditions of the country allow growing such valuable medicinal plants as Alexandria leaf, valerian medicinal, madder dye, lavender medicinal, erva, rosemary officinalis, and others. The proposals on the establishment of pilot plantations of these plants have already been submitted. They are capable of replacing imports, and are demanded on the external market. The project would trigger the creation of a separate industry in agriculture specializing in the procurement of saffron and other medicinal plants, and thereby the provision of pharmaceutical, perfumery and food industries with domestic raw materials.
(Source: «Uzbekistan Today» newspaper)

Uzbekistan has approved a set of measures to create favorable conditions for efficient and rational use of uncompleted construction sites and unused production facilities, invest and establish modern production facilities, and create new jobs

The Action Strategy for Five Priority Development Directions for 2017-2021 envisages the further expansion and simplification of state property privatization procedures, as well as creation of favorable conditions for the development of private entrepreneurship on the basis of privatized state property objects.

In this context, accelerated involvement of previously privatized uncompleted objects and idle production facilities in business activities ranks among major objectives of the new range of measures.

For example, commercial banks will now provide concessional loans to legal entities and individuals, as well as tenants who implement investment projects on uncompleted and unused facilities for up to 5 years, with a grace period of 12 months and at a rate not exceeding the Refinancing rate of the Central Bank.

Besides, there are plans to establish regional interdepartmental commissions on inventory and identification of such objects. The corresponding territorial departments of the State Committee for Demonopolization and Development of Competition were assigned to be their working bodies.

The commissions will mainly deal with identification of unfinished construction sites and idle production facilities in the respective territory jointly with their owners, development of investment projects on the establishment of manufactures, as well as on the creation of new jobs.

Another important mission comes to providing assistance in obtaining business permits and loans from commercial banks for the implementation of investment projects.

The package of measures provides for the approval of specific road maps, as well as the introduction of a mechanism of accelerated involvement of previously privatized uncompleted facilities and unused production facilities in business activities.
(Source: «Uzbekistan Today» newspaper)

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