INFORMATION DIGEST - PRESS OF UZBEKISTAN - February 11, 2016

posted 11 Feb 2016, 11:08 by Webmaster Ambasciata
INVESTMENTS
A UK company, Chief Corporate Solutions LP, is planning to build a new cement plant in Uzbekistan

INTERNATIONAL COOPERATION
Foreign Ministry of Uzbekistan holds meeting

SOCIETY
The Central Bank approves the terms of the micro-credit loans for college graduates

FEBRUARY 9 – ALISHER NAVOI’S 575TH ANNIVERSARY
Alisher Navoi’s 575th anniversary celebrated in Uzbekistan


investments

A UK company, Chief Corporate Solutions LP, is planning to build a new cement plant in Uzbekistan

The plant’s construction project was included in the country’s investment program for 2016. However, the initiative is not new: the idea of building a cement plant in Karakalpakstan has been discussed for several years, and it drew interest of foreign investors at different times.

Karakalpakstan is the northernmost region of Uzbekistan. The nearest cement plants are located far away, so the transportation of their products seriously affect the final cost. Meanwhile, Karakalpakstan is fairly a promising area for access to export markets, primarily to Kazakhstan, Russia and Turkmenistan. There is every reason to say that the new plant’s capacities will be loaded.

Under the target program of industry development, Uzbekistan is planning to double the current production capacity by 2020, and bring the annual production to 16.7 million tons of cement, about 12.2 million tons of which will be produced by ‘dry technology’.

Presently, there are eight cement plants with total capacity of 8.64 million tons. In addition to the plant in Karakalpakstan, new capacities will be built in Jizzakh, Kashkadarya, Surkhandarya and Tashkent regions in the coming years.

The largest domestic cement plants will be also involved in the process of development. Bekabadcement and Kyzylkumcement intend to carry out programs on drastic reduction of electricity and natural gas consumption.

For example, under a joint project with the World Bank, Bekabadcement has been upgrading the silo complex, which consists of 10 silos - specialized facilities for storing high-quality cement. They include aeration system, transportation of products to the loading station and aspiration system for clearing excess air. The modernization would save more than 3 million kW/h of electricity per year.

By the end of 2019, Kyzylkumcement is intending to implement 26 projects on introduction of energy-saving technologies and systems, which, according to experts of the enterprise, woud decrease power consumption by 57 million kW/h and natural gas - by 46.6 million cubic meters.

(Source: «Uzbekistan Today» newspaper)

International cooperation

Foreign Ministry of Uzbekistan holds meeting

On February 10, 2016, Minister of Foreign Affairs of the Republic of Uzbekistan Abdulaziz Kamilov received the newly appointed head of the Tashkent Office of the NATO Liaison Officer in Central Asia Rosaria Puglisi.

During the conversation the sides discussed the issues of implementation of joint programs between Uzbekistan and NATO in various fields.

The sides exchanged views on some issues of the international and regional policy.

(Source: Press Service of the MFA of the Republic of Uzbekistan)

Society

The Central Bank approves the terms of the micro-credit loans for college graduates

The Regulations on the procedure for issuing microcredit loans by commercial banks to graduates of professional colleges was approved.

The offer looks tempting, but each graduate has to reflect what kind of business he can open with the support of this micro-credit from the bank.

The graduates are eligible for the loans for three years after graduation. Microloans are issued in the national currency. A prerequisite of the loan is to have registration as an individual entrepreneur or ownership of 50 % shares in the authorized capital of a legal entity

The loans are issued with a  non-renewable term of return. Loan size for legal entities can be up to 300 times the minimum wage, and for entrepreneurs - up to 200 times the minimum wage.

Depending on the self-sufficiency, the loan may be issued for different terms . Up to 12 months - for the formation of the initial capital and the development of a feasibility study of the investment project. Up to 2 years - for working capital and the acquisition of equipment for the establishment of cultivation and processing of agricultural products. For more than 3 years - to finance investment projects.

 

The interest rate for the use of micro-credits is set at a level not exceeding the refinancing rate of the Central Bank. In the case of allocation of micro-credits from the fund of concessional lending, the bank's interest rate is 50 % of the refinancing rate of the Central Bank. The interest rate may vary depending on changes in the CP of the Central Bank.

It is important that in case of increasing the refinancing rate of the Central Bank, the interest rate, specified in the contract, remains unchanged. Micro-credits are not issued to borrowers operating at a loss, having illiquid balance and to borrowers who didn’t return microcredit previously given to them.

Working with the Bank begins with filing out the application. It is necessary to provide a business plan showing the forecast of cash flows to the account of the borrower; the borrower's balance sheet for the last reporting period, acts of reconciliations of debt for more than 90 days, the report on financial results ( in addition to the newly established legal entities and individual entrepreneurs) a notarized copy of the diploma of a professional college degree, as well as one of the types of collateral.

The application is considered by the bank and thedecision is made within three working days.

During the period of the use of microcredit, bank constantly monitors the activity of the borrower and provides the borrower with guidance to ensure the fulfillment of the contract conditions.

(Source: NA «Uzbekistan Today»)

February 9 – Alisher Navoi’s 575th anniversary

Alisher Navoi’s 575th anniversary celebrated in Uzbekistan

Wide celebration of Alisher Navoi’s birthday has become a good tradition in our country. A solemn ceremony, dedicated to the 575th anniversary of our great ancestor, took place at the Alisher Navoi national park on February 9.

The event was attended by members of the Senate, deputies of the Legislative Chamber of the Oliy Majlis, representatives of ministries and agencies, creative associations and public organizations, Navoi scholars, scientists, writers and poets, local community activists and the youth.

Chairman of the Writers' Union of Uzbekistan M.Ahmedov, head of Babur International Public Foundation and the scientific expedition Z.Mashrabov, representative of the Embassy of France in our country M.Galland, honored artist of the Republic of Uzbekistan O.Galahov and others noted that under the leadership of President Islam Karimov a large-scale work on the study of the priceless scientific, artistic and educational heritage of our great ancestors, its widespread use in the education of the harmoniously developed youth, patriotic and selfless individuals are carried out in our country.

Legacy of Alisher Navoi is the riches fir all mankind, valuable for its historical significance, conformity to the ideals of humanism. Thanks to Uzbekistan’s independence, a great attention is paid to the study of the great thinker, promotion of noble ideas in his works.

Published by the Institute of Language and Literature named after Alisher Navoi of the Uzbek Academy of Sciences, 20-volume "Collection of selected works" of the poet and the 10-volume collection of his works in Cyrillic and Latin alphabets has become an invaluable gift for literature fans. Scientific works, monographs and articles have been prepared and published, researches, covering all stages of the life and work of the poet, have been conducted.

The ideas of harmonious human development, improvement, creation and creativity, preservation of peace and tranquility, harmony between people of different nations and nationalities, envisaged in the works of Alisher Navoi, are now embodied in the reforms taking place in our country. The works of the poet are read and studied all over the world, they are translated into different languages.

People's Poet of Uzbekistan S.Sayyid read his new poem, dedicated to the great ancestor, at the event.

Foreign students, studying in Uzbekistan, researchers from abroad, studying classical Uzbek literature, recited Alisher Navoi’s rubais in Uzbek. Honored artists of Uzbekistan Elmurod Akhmedov and Furkat Ashuraliev sang songs, based on the gazelles of the great poet. Flowers have been laid to the foot of the monument to Alisher Navoi.

The ceremony was attended by the State Advisor to the President of the Republic of Uzbekistan H.Sultanov, Deputy Prime Minister of the Republic of Uzbekistan B.Hodiev.

* * *

On this day, an educational event, dedicated to the anniversary of the great thinker, was held on Poets’ Alley of the capital.

First Deputy Chairman of the Union of Writers of Uzbekistan S.Sayyid, Navoi scholar, academician A.Kayumov, People's Poet of Uzbekistan M.Toyir and others spoke about the essence and importance of scientific and educational importance of creativity of Navoi.

Excerpts from the works of Alisher Navoi was read out. Songs, based on poets’ gazelles were sung, a poetic tournament – mushaira took place.

Similar events are held in the Republic of Karakalpakstan and in all regions.

(Source: UzA)


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