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Exports excluding gold increased 26.7% in the first four months of the year, while total exports declined 19.1% due to a lack of gold sales. This is stated in the report of the State Statistics Committee.

In turn, imports increased by 7% compared to the results of the previous year. However, imports of services fell by 27.1% in four months. Exports of services from Uzbekistan also decreased by 13.2%.

Of the total volume of foreign trade turnover, exports amounted to $ 3 billion 482 million (by January-April 2020, a decrease of 19.1% was noted), and imports - $ 6 billion 840 (an increase of 7.0%). As a result, the foreign trade deficit amounted to $ 3 billion 358.4.

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On January 6, a meeting with representatives of the American company GMFR Global group Co.LTD was organized at the Foreign Investment Promotion Agency.
Opening the meeting, the AIIP specialists thanked the guests for their confidence in the rapidly developing market of Uzbekistan, in particular, as part of the planned joint projects for the construction of a hotel and the cluster production of ready-made food products in the Samarkand region.

In September 2019, a tripartite agreement was signed between the Samarkand regional city hall, the American company GMFR Global group Co.LTD and the Chinese holding Beijing Huiyuan Holding Co.LTD in September 2019 as part of a strategic investment partnership project for the development of agriculture in Uzbekistan. The new plant will produce 20 million tons of packaged water, juices and dairy products annually that will be fully exported.

Representatives of the company noted that in the near future equipment for the production of natural juice will be imported to the territory of Uzbekistan. Its cost is estimated at about 100 million US dollars.

In order to develop long-term and effective cooperation, GMFR Global group Co.LTD in January this year will organize a visit of 10 major entrepreneurs from the People's Republic of China, in connection with which, representatives of the IPA were requested information about promising investment projects.

SEO manager Angela Mo emphasized that the GMFR Global group is interested in developing joint projects in the Jizzakh region, in particular in such sectors as agriculture, construction materials (foam blocks) and the construction of social facilities.

The prospective areas of cooperation for the coming years are such industries,such as engineering, construction of hotel complexes and new roads and electronic commerce.

The market of Uzbekistan, having a number of geographical advantages in the field of international transport spots, uniting countries of foreign Europe, the CIS, South-West Asia, India and China, has ample opportunities in the development of electronic commerce, in terms of cooperation with successful global trading platforms like Alibaba, Tmall , JD, Aliexpress and Taobao and others.

A foreign party requested information on measures aimed at the development of the digital economy and e-commerce, the benefits and preferences provided to participants in the information technology market.

At the end of the meeting, APII experts noted that all issues of interest will be taken under control and detailed information will be prepared in the near future to establish fruitful cooperation with GMFR Global group Co.LTD.

The weekly Economist magazine recognized Uzbekistan as thе country of the year.

According to the British magazine The Economist, Uzbekistan has become the country of the year.

This year the competition was difficult, and the democratic progress achieved throughout the country does not guarantee its continuation in the future, the article says.

Three years ago, the “armies” of men, women and children were forced to work in cotton fields, and the country itself was “a closed society without harshness and lack of competence”.

Since the resignation of the head of the State Security Service in 2018, a number of reforms have been carried out in the country.

“The government basically stopped forced labor. The prison, known as Mudhish, was closed. Foreign journalists are allowed into the country. Officials were banned from developing their own business. Foreign technocrats are invited to build a state-owned economy, ”The Economist said.

On November 13, President of Uzbekistan Shavkat Mirziyoyev signed a decree establishing the Council of Foreign Investors under the President.

The Council is an advisory body under the President of the Republic of Uzbekistan.

The composition of the Council is composed of leaders and representatives of foreign companies, banks, investment and other structures, international financial institutions and foreign government financial organizations, including the European Bank for Reconstruction and Development, which carry out investment and business activities in the Republic of Uzbekistan in the established manner, and also other participants.

The Council operates in the form of plenary and interim sessions. Plenary sessions of the Council are held once a year, intermediate sessions – at least twice a year. The coordination of plenary sessions of the Council is coordinated by the Administration of the President of the Republic of Uzbekistan and intermediate sessions are carried out by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan.

The main tasks of the Council:

  • advising the Government of the Republic of Uzbekistan on the most important areas of investment, industrial, technological and innovative development of the country;
  • direct participation in creating a favorable investment climate and effective mechanisms to stimulate domestic and foreign entrepreneurs to invest in priority sectors of the economy;
  • ensuring effective interaction of state bodies and economic entities with foreign companies, banks, investment and other structures;
  • identification and analysis of key factors that impede the attraction of investments and investor activity;
  • development of effective proposals aimed at eliminating the factors hindering investment processes;
  • assistance in improving export support mechanisms, consistent development of trade infrastructure, e-commerce system, creating favorable conditions for the promotion of domestic goods and services to foreign markets;
  • introduction of positive foreign experience in the processes of creating and using modern product quality management systems;
  • preparation of proposals and recommendations for further improvement of the legal framework in the field of investment regulation;
  • identifying priority areas and developing effective measures to improve the international image, increase the position of the Republic of Uzbekistan in international ratings and indices.

On November 1-2, 2019, Nukus will host the international investment forum “Invest in Karakalpakstan”, organized by the Ministry of investments and foreign trade, Jokargy Kenes and the Council of Ministers of the Republic of Karakalpakstan.

The purpose of the forum is to intensify investment activities, to form an effective platform for business communication and discussion of issues on attracting investments to Karakalpakstan.

Main objectives of the forum:

- formation of the idea of investment potential;

- consideration of real sources of financing for new projects;

- study of investment project implementation mechanisms;

- involvement of stakeholders to establish business contacts;

- presentation of investment projects.

The Forum will be attended by more than 200 foreign guests-government delegations and business representatives from more than 40 countries, such as China, the Russian Federation, the Republic of Korea, Kazakhstan, England, Japan, Bangladesh, Poland, Germany and others.

The Forum will last two days, which allows participants to visit the most significant and promising from the point of view of cooperation objects in the republic by interests and directions. Guests will enjoy not only discussions, presentations, exhibitions, but also an extensive cultural program.

The Forum will host an exhibition and fair of local producers. For the first time visitors of the Forum will get acquainted with the main historical and cultural sites of Karakalpakstan.

As a result, it is planned to sign a number of agreements with foreign investors.

[su_spoiler title="В Ташкенте проходит Узбекско-Испанский форум «Многостороннее партнёрство»"]«Сейчас самое лучшее время для начала бизнеса в Узбекистане, — отметил Лазиз Кудратов, первый заместитель Государственного комитета Республики Узбекистан, выступая на открытии узбекско-испанского форума – Привлечение иностранных инвестиций и создание благоприятного инвестиционного климата является одним из приоритетов проводимых широкомасштабных реформ.[/su_spoiler]

[su_spoiler title="В Ташкенте проходит Узбекско-Испанский форум «Многостороннее партнёрство»"]«Сейчас самое лучшее время для начала бизнеса в Узбекистане, — отметил Лазиз Кудратов, первый заместитель Государственного комитета Республики Узбекистан, выступая на открытии узбекско-испанского форума – Привлечение иностранных инвестиций и создание благоприятного инвестиционного климата является одним из приоритетов проводимых широкомасштабных реформ.[/su_spoiler]

[su_spoiler title="В Ташкенте проходит Узбекско-Испанский форум «Многостороннее партнёрство»"]«Сейчас самое лучшее время для начала бизнеса в Узбекистане, — отметил Лазиз Кудратов, первый заместитель Государственного комитета Республики Узбекистан, выступая на открытии узбекско-испанского форума – Привлечение иностранных инвестиций и создание благоприятного инвестиционного климата является одним из приоритетов проводимых широкомасштабных реформ.[/su_spoiler]

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