The National Bank of Uzbekistan for Foreign Economic Activity (NBU) and the Russian Bank for Development and Foreign Economic Activity signed an agreement on long-term economic cooperation and strategic partnership.
UNDP’s project “Public Finance Reform in Uzbekistan” has been continuously supporting the initiatives, focused on promotion of interests and protection of rights of businessmen, auditors and accountants, as well as making substantial contribution to the market reforms development in Uzbekistan by actively participating in this process and assisting the development of tax counseling in Uzbekistan.
During Fiscal Year 2007, the World Bank Group committed some US$6 billion in loans, credits, equity investments and guarantees to its members and to private business in the Europe and Central Asia (ECA) region. The recipients are using these funds in more than 130 projects designed to overcome poverty and enhance growthâ€”for example, by improving education and health services, promoting private sector development, building infrastructure, and strengthening governance and institutions.
A four-day workshop on “Performance Based Budgeting and Mid-term Budget Framework” took place in the conference hall of “Panorama-Grand” Hotel in Samarkand on 10-13 September 2007. The workshop was jointly organized by the World Bank Institute and UNDP Projects “Public Finance Reform in Uzbekistan” and “Support to Uzbekistan’s Welfare Improvement Strategy”.
Uzbekistan received US$504 million in remittances from Russian in the first half of 2007, UzReport.com reported.
In the first half of 2007 nominal money incomes of the Uzbek population increased by 28% as compared to the first half of 2006 and amounted to 7,321.3 billion soums, money expenditures and savings - by 30.7% and 7,328.5 billion soums respectively.
The volume of paid services rendered to population in January-June 2007 amounted to 1,260.4 billion soums, the real increase was 25.1% as compared to the corresponding period of 2006, according to the Uzbek State Statistics Committee.
BNP Paribas Investment Bank (France) has been awarded the tender announced by the State Property Committee’s Tender Commission for the valuation of 51% shareholding in Asaka State Joint-Stock Commercial Bank.
A draft Tax Code of Uzbekistan in new revision is available online for public discussion. Finance Ministry of Uzbekistan developed new revision of Tax Code on behalf of the government of Uzbekistan and United Nations Development Programme (UNDP) rendered technical assistance to development of new Tax Code.
Mortgage is becoming increasingly popular among the population of Uzbekistan. In accordance with the regulation "On the issuance of mortgage loans for the purchasing of housing to individuals", Khamkor Bank provides this service to citizens of Uzbekistan aged 20 to 50, UzReport.com reported.