DEVELOPMENT OF TOURISM EXCHANGE
BETWEEN ITALY AND UZBEKISTAN
              ItaliaUzbekistan
SITIU
 


economy
 

 


 
GDP
$62 billion
GDP - Real Growth Rate
3.00%
GDP - Per Capita (PPP)
$2,500
GDP - Composition by Sector
33% from agriculture; 24% from industry; 43% from services
Inflation Rate - CPI
23.00%
Unemployment Rate
10%
Budget
$4,000,000,000 revenues;
$4,100,000,000 expenditures
Industrial Production Growth Rate
3.50%
Electricity Production
44.08 billion kWh
Exports - Total Value
$2.80 billion
Imports - Total Value
$2.50 billion
Debt - External
$5.10 billion
Economic Aid
$.15 billion

 

  • Structure: Autonomous Republic of Karakalpakstan, 12 regions, 226 cities and districts.
  • Main industries: The Engineering industry, chemistry, metallurgy, radios and electronic industry, light industry has been given wide scope of development.
  • More than 50% of Central Asia's energy supply sources fall to the share of Uzbekistan.
  • The length of railroads exceeds 6,700 km; the highways 80, 000 km; aerial communication has been established with 30 countries.
  • The Republic of Uzbekistan is one of the most favorable regions in terms of natural and geographic conditions. It is situated in the central part of the Central Asian economic region and it is watered by Amudaria and Syrdaria, the largest rivers in Central Asia. The distance from western to eastern border is 1425 km, and from north to south 930 km. The size of Uzbekistan's territory is greater than the UK, Belgium, Denmark, Switzerland and Austria taken together
  • Uzbekistan has the world's fourth largest proven reserves of gold and tenth largest reserves of copper The annual gold output is about 70 tons.
  • The volume of minerals extracted annually is worth US$ 5.5 billion, the annual accretion of minerals is US $6 - 7 billion.
  • The republic produces 1.3 million tons of cotton fiber, 5 million tons of fruit and vegetables, 20, 000 tons of raw silk and 1. 5 million of astrakhans annually.
  • Uzbekistan is reach in fuel and power resources. Gas reserves total 5 trillion cubic meters, the reserves of oil 4 billion tons, and the reserves of coal 2 billion tons.
  • 82.7% of enterprises belong to the non-state sector. Among them 83,500 small-scale and private enterprises and 4,500 joint-stock companies.
  • 20,000 farms have been established. The size of land privately farmed has increased up to 2 70, 000 hectares and the size of a plot of land up to 14,6 hectares.
  • More than 30 banks, about 150 stock and commodity exchanges, insurance companies, 2,000 wholesale stores, markets and shops, 100 share-selling agencies are successfully operating in Uzbekistan.
  • The non-state sector generates 67% of the national income and 95% of the agricultural production.
  • Representations of 260 foreign firms and banks have been opened.
  • The National Bank of Uzbekistan has established correspondent relations with 235 large foreign banks in 35 countries of the world.
  • The representations of the international financial and banking institutions such as the World Bank, the International Monetary Fund, the European Bank for Reconstruction and Development and others are successfully operating in the Republic of Uzbekistan.

 

Main indicators of economic development of the Republic of Uzbekistan, 1991-2001
(in percentage to the previous year)

Name

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

GDP

99,5

88,9

97,7

94,8

99,1

101,7

105,2

104,3

104,3

103,8

104,2

Industry

101,5

93,3

103,6

101,6

100,1

102,6

104,1

103,6

105,7

106,4

108,1

Agriculture

98,9

93,6

101,3

92,7

102,2

94,4

105,8

104,1

105,6

103,1

104,2

Capital investments

105,0

68,0

95,0

78,0

104,0

107,0

117,0

115,0

102,0

101,0

103,7

Volume of wholesale trade

82,3

59,0

127,5

90,4

95,7

122,2

112,6

114,2

109,5

107,6

109,6

Volume of services provided

84,2

57,4

69,4

76,6

73,0

109,8

121,4

110,3

113,0

115,7

114,7

fonte: http://www.gov.uz/en/ctx.scm?sectionId=119&contentId=1765

Indicators of foreign economic activity (in mln USD)

Jan-Dec
2002
In % from
total volume
Jan-Dec
2001
In % from
total volume

Jan-Dec 2002 to
Jan-Dec 2001 in %

Trade turnover 5700,4 100 6307,3 100 90,4
With the CIS countries 1823,8 32,0 2258,7 35,8 80,7
With the non-CIS countries 3876,6 68,0 4048,6 64,2 95,8
Export 2988,4 100,0 3170,4 100,0 94,3
With the CIS countries 823,5 27,6 1090,6 34,4 75,5
With the non-CIS countries 2164,9 72,4 2079,8 65,6 104,1
Import 2712,0 100,0 3136,9 100,0 86,5
With the CIS countries 1000,3 36,9 1168,1 37,2 85,6
With the non-CIS countries 1711,7 63,1 1968,8 62,8 86,9
Trade balance 276,4   33,5    
With the CIS countries -176,8   -77,5    
With the non-CIS countries 453,2   111,0    
fonte: http://www.gov.uz/en/ctx.scm?sectionId=119&contentId=1947

Total of export and import of the Republic of Uzbekistan in January-December 2002

Jan-Dec 2002 In % to Jan-Dec 2001 In % to total
Including:      
- Cotton-fiber
669,3
95,8
22,4
- Food-stuff products
105,7
84,6
3,5
- Chemicals products , plastics and plastic items
88,9
102,9
3,0
- Energy
243,2
75,3
8,1
- Ferro and non Ferro metals
191,0
86,1
6,4
- Machines and equipment's
116,5
95,2
3,9
- Services
474,9
102,9
15,9
- Others
1098,9
97,1
36,8
       
Including:      
- Food-stuff products
339,4
100,5
12,5
- Chemicals products , plastics and plastic items
410,4
103,2
15,1
- Energy
35,0
59,6
1,3
- Ferro and non Ferro metals
216,2
63,0
8,0
- Machines and equipment's
1122,9
86,8
41,4
- Services
286,3
88,8
10,6
- Others
301,8
78,5
11,1
fonte: http://www.gov.uz/en/ctx.scm?sectionId=119&contentId=1947

Note: On preliminary data State Committee on Statistics

List of countries, participants of the Agreement on creating a Free Trade Zone is registered by the Ministry of Justice on 8 April 1998 as ? 429. Given regime is used in trade with Azerbaijan, Armenia, Republic of Belarus, Georgia, Kazakhstan.

 

the investment policy
 

The Government of Uzbekistan actively works to provide a favorable investment climate. Two fundamental factors form the basis of a good investment policy, political stability and macro-economic policy. The investment policy of the country focuses on strategic issues - The State Investment Program of Uzbekistan, i.e. the amount of foreign investment in the country currently exceeds US $8 billion. The Program for Developing Existing Investment Projects supports industries such as power and fuel mechanical engineering, mining, chemical. Light industry and agricultural processing. The total amount of investment for 1997 was approximately US $1,1 billion, 1,3 times more than in 1996. Foreign investments and loans comprise about one fifth of total in vestments. The implementation of an investments and infrastructure policy is intended to modernize existing enterprises and establish new enterprises. More than 30% has already been spent on advanced technologies and state-of-the-art equipment. The largest investors in this country are British American Tobacco (tobacco production), Newmont Uzbekistan Ltd. (mining industry), Technip (oil and gas industry), Siemens and Alcatel (telecommunications). Experienced international business leaders have assessed Uzbekistan and concluded that it provides a favorable investment climate for mutually beneficial cooperation. At the same time, there are more than 3 200 enterprises registered in Uzbekistan with foreign investments from more than 85 countries. Most enterprises were established in cooperation with partners from Russia, Turkey, the US, Great Britain and Germany. Enterprises with foreign investments are working in all areas of the economy, but the mainly in the areas of mechanical engineering, the food industry, nonferrous metallurgy, trade and the food and beverage industry.

Volume of foreign capital investments for January - December 2002 year

The volume of foreign capital investments for the year 2002 (from Official statistics) was 94 mln US dollars, including 28 mln US dollars under the warranty of Government and 65 mln US dollars without the warranty of Government. Volume of foreign credits for the year 2002 was above 306.8 mln US dollars including 284.2 mln US dollars under the warranty of Government and 22.6 mln US dollars without the warranty of Government.

General volume of foreign capital investments and credits for January - December 2002 year has form 400.9 mln US dollars. And 22,1% of them is without the warranty of Government.

In recent years presence of the foreign capital in the economy of Uzbekistan has been intensified - if in 1993 foreign investments formed only 0,8% from the total volume of capital investments, in 2001 it was at the level of 20,3%.

Broad system of measures has been developed for the stimulation of enterprise with the foreign investments, comprising of:

Attraction of foreign investments to the regional development of Uzbekistan

With the purpose of further stimulation of attraction of foreign investments for creating joint ventures in regions of the Republic of Uzbekistan, approved "Program of creation enterprises with the foreign investments in regions of the republic " by resolution of the Cabinet of Ministers # 459. According to the resolution in the period till 2005, it is scheduled to create 292 enterprises with the foreign investments in all spheres of economy in the regions, such as: production of agricultural goods and stock-breeding, light industry (textile production, yarns, cotton products and etc), production of construction materials, food, chemical, electronic and other high-tech products, machine building, goods for the public consumption and in other branches.

Moreover, for forming better environment for creating and development of private enterprises, small and medium businesses, enterprises with the foreign investments in regions, on the territory of the Republic of Karakalpakstan in particular and Khorezm area: small and medium enterprises and microfirms, registered and realizing their activities on the territory the Republic of Karakalpakstan and Khorezm area, regardless of taxation systems, pay taxes (medium enterprises a tax on profit) on levels, lower against acting by 50%.

For the potential foreign investors Uzbekistan offers different forms of ventures - setting up joint-ventures, enterprises with 100% foreign capital, acquisition of part or entire issues of shares of privatized companies and etc, as well as groups of projects in different spheres of economy: in industrial complex, agriculture, transport, telecommunications, construction, public health, tourism and other.

fonte: http://www.gov.uz/en/ctx.scm?sectionId=119&contentId=1949

 

Foreign Economic Relations

The Republic of Uzbekistan aspires to establish an open economy based on the country's participation in world economic relations and the international work force. Uzbekistan has entered into international economic relations with countries such as Germany, the US, Great Britain, Japan, France, Italy, Korea, Turkey, and China. One of the foundations of the foreign economic policy is the development and implementation of highly integrated systems to improve and expand the country's export potential. The program's aim is to provide conditions for growth and improvement based on existing resources.
Together with Uzbekistan's State export expansion policy, an import substitution policy has also been adopted. This policy promotes the utilization of the country's own resources for production. The country self sufficient in oil and hydrocarbons for 1998 and in the near future we hope to be self sufficient with regard to cereals. Production of meat, rice, sugar, potatoes, butter and medicines increases annually while the textile industry and industrial processing continues to expand.

Uzbekistan's development of foreign trade relations could be defined as follows: Uzbekistan develops trade relations with many countries of the world, not confining itself to cooperation with an individual region or group of countries; The domestic market maintains a demand for equipment and advanced technologies (investment goods); In addition to the country's usual exports (cotton fiber, fuel. ferrous and nonferrous metals) food production, equipment and services are rapidly increasing. The country's foreign trade turnover was US (8,9 billion In 1997, including exports totaling US $4,4 billion and imports totaling US $4,5 billion. Exports were established with 78 countries. The export structure has changed significantly, in particular, export of raw materials decreased considerably while at the same time, the export of processed goods using mainly local raw materials, increased. The import volume of products such as fuel, footwear, alcohol and soft drinks decreased, the amount of imported food products and consumer goods has halved. Approximately 74% of the total volume of imported goods went to purchasing equipment and industrial-technical know-how for use in the country's development program of local industry.

 

banks
 
  • Central Bank
    6, Uzbekistan avenue, Tashkent
    tel: 133-45-11
    Chairman: Mullajonov Faizulla Maksudjonovich
  • "Uzpromstroybank"
    www.uzpsb.com
    3, Shakhrisabz str., Tashkent
    tel: 120-45-05
    Chairman: Rustamov Kiyomiddin Kakhhorovich
  • "Pakhtabank"
    www.pakhtabank.com
    43, Mukimi str., Tashkent
    tel: 120-88-01
    Chairman: Toshmatov Kobiljon Fattokhovich
  • Uzbek National Bank
    www.nbu.com
    101, A. Temur str., Tashkent
    tel: 137-59-57
    Chairman: Mirkhujaev Zainiddin Saifiddinovich
  • "Uztadbirkorbank"
    52, S. Azimov str., Tashkent
    tel: 133-14-83
    Chairman: Tursunov Keldiyor
  • "Khalk Banki"
    46, Katartal str., Tashkent
    tel: 173-66-16
    Acting Chairman, First Deputy: Khaidarov Adkham Mirazizovich
  • "Uzsavdogarbank"
    78, Said Baraka str., Tashkent
    tel: 54-25-20
    Chairman: Nurmamatov Musurmon Nurmamatovich
  • "Galla-Bank"
    36, Shakhrisabz str., Tashkent
    tel: 136-11-05
    Chairman: Urinboev Ikromdjon Ibrohimovich
  • "Zamin" Bank
    3, Rjevskyi str., Tashkent
    tel: 54-06-61
    Chairman: Mavlonov Odil Olmovich
  • "Asaka" State Joint Stock Commercial  Bank
    www.asakabank.com
    67, Nukus str., Tashkent, 700015
    tel: 998 71 120-81-66
          998 71 120-82-03
    Chairman: Juraev Shokir Jumaevich
    First Deputy: Kim Arkady Konstantinovich
  • "Uzuyjoyjamgarmabank"
    17, Pushkin str., Tashkent
    tel: 133-90-53
    Chairman: Khamidov Bakhtiyor Sultonovich

 

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