Public Relations and Mass Media Department of the MFA

April 11, 2019




president.. 1

The President of Uzbekistan receives United Arab Emirates delegation. 1

investments. 1

Georgian TBC Bank buys Payme controlling stake for $5.5 million. 1

Privatization.. 2

Fergana Oil Refinery to be sold to a foreign investor 2

International relationships. 2

On Uzbekistan – Mongolia political consultations. 2

FinMin of Uzbekistan to take part in IMF and WBG meetings. 3

Uzbekistan and United Arab Emirates expand cooperation. 3

First Bakhshi International Art Festival.. 4

Bakhshi International Art Festival identifies its winners. 4


Winners of Oltin Humo National Award. 5
















The President of Uzbekistan receives United Arab Emirates delegation

On April 11, 2019, President of the Republic of Uzbekistan Shavkat Mirziyoyev received a delegation of the United Arab Emirates, headed by Minister for Cabinet Affairs and Future Mohammad bin Abdulla Al Gergawi.

The head of our state, sincerely welcoming the UAE delegation in our country, gave a high acclaim to the steadfast advancement of the Uzbek-Emirates multidimensional relations.

It was stressed at the meeting that the fruitful talks that took place in Abu Dhabi and Dubai this March marked the dawn of a new stage in the consolidation of partnership and enhancement of practical cooperation between the two nations.

The negotiations during that visit produced significant agreements and a compelling package of bilateral documents, including those on the promotion of promising investment projects in diverse sectors of the economy, exceeding 10 billion US dollars. A corresponding “roadmap” has been adopted in Uzbekistan for their full-fledged implementation.

In the course of today’s conversation, the sides underscored the importance of maintaining dynamic dialogue and intensive exchanges at the level of government organizations, research centers, leading companies and enterprises as well as banking and financial institutions.

Special attention was paid to cooperation issues in the introduction of the best practices of the United Arab Emirates in the field of public administration and innovation development.

An agreement has been reached on joint elaboration – by the experts of the two countries – of specific proposals on the establishment of cooperation in priority areas.

Minister Al Gergawi expressed deep gratitude to the head of our state for the warm reception and conveyed the greetings and best wishes from the UAE President Sheikh Khalifa bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander-in-Chief of the UAE Armed Forces Sheikh Mohammed bin Zayed Al Nahyan , UAE Prime Minister, Ruler of the Emirate of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

Highly appreciating the extensive transformation in progress in our country in the field of public administration and the socio-economic reforms underway, the guest reaffirmed the firm commitment of his country’s leadership to the consistent enlargement of friendship and partnership between Uzbekistan and the United Arab Emirates.

(Source: UzA)


Georgian TBC Bank buys Payme controlling stake for $5.5 million

The Georgian company TBC Bank Group PLC (TBC Bank) buys 51% shares of the LLC “Inspired”, which operates under a brand name Payme in Uzbekistan. The Georgian company reported about it.

The report says that Payme is a leading provider of payment services in Uzbekistan, and the number of customers of the application is 1.3 million people.

In recent years, usage of Payme has grown rapidly – during 2018, the number of customers grew by about 70%, while revenue and net profit increased by 41.9% and 24.5%, respectively.

Payme was founded in 2011 and continues to be managed by three founders. The team was reinforced by two new shareholders: one acted as director of business development and research, and the other as chief technical director.

The following shareholders sold part of their shares to TBC Bank:

•  Sarvar Ruzmatov, managing owner;

•  Bakhrom Khodjayev, managing owner;

•  Farrukh Ziyayev, managing owner;

•  Abdulaziz Abdulakhadov, Director of Business Development and Research;

•  Oleg Geverges, Technical Director.

“The management team will remain with Payme on a long-term basis and will continue to actively participate in development and implementation of the strategy,” the report reads.

TBC Bank says that this transaction corresponds to an international strategy on expanding regional operations. It is an important milestone in building the bank capacity in a very promising market in Uzbekistan.

The strategy of TBC Bank in Uzbekistan is to create a new generation banking ecosystem for retail clients and customers of small and medium-sized businesses. The focus will be on digital channels, including a fully digital bank Space.

TBC Bank will pay the amount in cash by the end of April. TBC Bank also concluded an agreement on the possible sale of the remaining 49% share of Payme in the future.

“I’m sure that together we will take the company to a new level and offer our customers new advanced solutions and services in a very short time,” Payme’s managing owner Sarvar Ruzmatov said.

TBC Bank, established in 1992, is a leading bank in Georgia. In 2014, it entered the London Stock Exchange. As part of the IPO, it attracted almost $240 million with capitalization of $640 million. TBC online-banking has received the award as one of the best in Central and Eastern Europe for several years. In 2018, TBC introduced a fully digital bank Space.

(Source: Kun.uz)


Fergana Oil Refinery to be sold to a foreign investor

A resolution of the President of Uzbekistan was adopted on measures to modernize the Fergana Oil Refinery (FOR) with the attraction of foreign direct investment, the Ministry of Justice said.

In accordance with the document, 100% of Uznefteprodukt JSC in the authorized capital of Fergana Oil Refinery LLC is transferred to the State Assets Management Agency.

Fergana Oil Refinery will be upgraded with investments from the foreign company PT Trans Asia Resources (Indonesia).

After the modernization of the plant and the full launch of all capacities, PT Trans Asia Resources will create a consortium of leading international companies for the further operation of the plant.

In the future, the state share in the authorized capital of the plant will be sold to the company PT Trans Asia Resources “on the terms set by the government”.

FOR is one of the leading enterprises for the production of fuel and lubricants in the region. Refining directions include 35 technological installations for production of almost all the oil product range existing in oil refining.

(Source: Kun.uz)

International relationships

On Uzbekistan – Mongolia political consultations

On April 10, 2019, the fifth round of political consultations between the Ministries of Foreign Affairs of the Republic of Uzbekistan and Mongolia took place.

Delegations led by the Deputy Minister of Foreign Affairs of Uzbekistan Dilshod Akhatov and the Deputy Minister for Foreign Affairs of Mongolia Batmunkh Battsetseg thoroughly analyzed the current state and perspective directions of deepening bilateral relations in political, trade-economic, investment, cultural, humanitarian and other fields.

The parties noted the presence of significant potential for dynamic development of relations between state structures and business circles of the two countries, noted the urgency of taking practical measures for further development of multifaceted cooperation.

At the meeting, mutual interest was expressed in organization of business forums and cooperation exchanges, as well as creation of a Business Council with participation of chambers of commerce and industry of the two countries and other cooperation mechanisms.

The parties also discussed the issues of development of relations in tourism. It was emphasized that introduction of a visa-free regime by Uzbekistan for 30 days for Mongolia citizens creates favorable opportunities for them to visit Buddhist shrines and other historical monuments in Uzbekistan. In this context, the Mongolian side proposed to explore the possibility of establishing direct flights between Ulan Bator and Tashkent, which will also make it possible to intensify contacts at various levels and expand exchanges between experts in science, culture and sports.

Cooperation issues between the two countries within the framework of international organizations, primarily in the UN and the SCO were also discussed at the meeting.

The Ambassador of Mongolia Luvsan Battulga attended the consultations.

(Source: Web site of the MFA of the Republic of Uzbekistan)

FinMin of Uzbekistan to take part in IMF and WBG meetings

On April 11-14, the delegation of Uzbekistan headed by Deputy Prime Minister, Minister of Finance Jamshid Kuchkarov will take part in the Spring Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG), which will be held in Washington, D.C.

According to the MFA, the delegation of Uzbekistan includes representatives of the ministries of finance, investment and foreign trade, as well as the Central Bank.

Within the framework of their stay in Washington, D.C., the Uzbek delegation will participate in the meeting of the WBG countries, which includes Uzbekistan, the meeting of the International Monetary and Financial Committee, as well as the annual ministerial round table on “Improving economic opportunities and human capital in the changing nature of work,” the embassy of Uzbekistan in the United States said.

A number of bilateral meetings with the leadership of the World Bank, the IMF, and the European Bank for Reconstruction and Development are also scheduled.

“It is planned to discuss the prospects for further expansion of multifaceted and mutually beneficial cooperation with these international financial institutions, the situation in the global economy, trends in capital markets, factors that may affect growth rates in various regions,” the press service noted.

In addition, the program of the visit includes meetings of the delegation of Uzbekistan with the ministers of finance of Afghanistan and Switzerland with the aim of exchanging views on strengthening trade and investment cooperation both on a bilateral basis and within international institutions.

(Source: Kun.uz)

Uzbekistan and United Arab Emirates expand cooperation

On April 10, a meeting of government delegations of the Republic of Uzbekistan and the United Arab Emirates kicked off in Tashkent.

The meeting, chaired by the Prime Minister of the Republic of Uzbekistan Abdulla Aripov and the Minister of Cabinet Affairs and the Future of the United Arab Emirates Mohammed bin Abdullah Al Gergawi, was attended by the heads of responsible ministries and agencies of the two countries.

Implementation in Uzbekistan of the achievements of the United Arab Emirates in the system of government was considered at the meeting. The issue of development and implementation of a joint cooperation project between the two countries for a medium and long-term perspective on improving the efficiency of public administration in Uzbekistan and creation of a national development strategy was discussed. This cooperation program envisages the development of special strategies on issues such as government accelerator, innovation, quality of government and services, national strategy, the effectiveness of the executive system of government resolutions, formation of the management personnel and creation of personnel reserve.

At the event, views were exchanged on further expansion of promising cooperation between the two countries, creation of working groups for the effective organization of their activities. It was noted that there are ample opportunities for bilateral cooperation.

Presentation of the United Arab Emirates, dedicated to improving the efficiency of public administration, was held.

G2G meetings of the working groups were held on certain areas.

UAE delegation’s visit to Uzbekistan continues.

(Source: UzA)

First Bakhshi International Art Festival

Bakhshi International Art Festival identifies its winners

More than 160 participants from more than 74 countries of the world, representatives of UNESCO, ISESCO, as well as honored guests from Kyrgyzstan, Kazakhstan, Tajikistan, Turkmenistan and Afghanistan attended the festival organized in Termez in accordance with the resolution of the Head of the state “On holding Bakhshi International Art Festival” of November 1, 2018.

Representatives of 20 countries such as Turkey, Russia, Iran, Belgium, South Korea, China, Mongolia, Israel, Japan, Finland, Afghanistan demonstrated their talents in bakhshi-poets, akyns, jirovs and folk groups’ contest held within the framework of the festival. Their performing skills were evaluated by jury members consisting of an outstanding art and culture figures, scientists, qualified specialists from France, South Korea, Russia, Turkey, Mongolia, Uzbekistan, Kazakhstan.

Winners of the international contest were awarded with prizes at Termez Palace of Arts.

Gulnara Allamberganova from Karakalpakstan and Kim Huo Sung from South Korea were awarded with third degree diplomas, festival statuettes and cash prizes in the amount of 2500 USD.

Ilgam Baybuldin (3500 USD) from Russia, as well as Ashik Ali and Ashik Shamira (3500 USD) from Azerbaijan took the second place and awarded cash prizes in the amount of 7000 USD.

People's bakhshi of Uzbekistan Abdunazar Poyonov and Kerven Yovbosarov from Turkmenistan took the first place and awarded cash prizes in the amount of 5000 USD.

According to the decision of the jury, the Grand Prix of the contest held within the framework of Bakhshi International Art Festival and a cash prize in the amount of 7000 USD was awarded to Uljan Baybusinova from Kazakhstan. Winners were solemnly awarded with special diplomas and statuettes of the festival.

In addition, within the framework of the contest, winners of more than ten nominations were awarded with diplomas and cash prizes in the amount of 500 USD.

The solemn event ended with a big concert program with participation of art masters, bakhshi and young performers.

The Minister of Culture B.Sayfullayev attended the event.

(Source: UzA)


Winners of Oltin Humo National Award

Turkiston Art Palace in Tashkent hosted the awarding ceremony of Oltin Humo national award winners in the field of national cinematography.

The event, organized by Uzbekkino National Agency and Uzbekistan Filmmakers Creative Union, was attended by art and culture figures, film masters, students and general public.

Director General of Uzbekkino National Agency F. Zakirov, Chairman of Uzbekistan Filmmakers Creative Union M. Matchonov noted that special attention is being paid in Uzbekistan to further development of national cinematography, full support and encouragement of workers of this sphere, preparation of highly artistic films for our people.

The selection committee of Oltin Humo national award consists of artists, directors, cameramen and screenwriters. Films, shot and presented to the audience in 2017-2018 were presented for the main nominations. Special attention was paid to high artistic level of works, professional acting and performance.

Oltin Humo national award consists of sixteen main nominations, such as “Best film of the year”, “Best Director's work”, “Best actor”, “Best actress”, “Audience award”, “Best documentary film”, “Best graphics”, “Best sound engineer”, “Best makeup artist”, “Best film composer”.

Bakhtiyor Ikhtiyorov, Abdurakhim Ismoilov, Khabibulla Fayziyev, Khayrulla Sadiyev, Kamara Kamolova, Sayram Isayeva were awarded with Oltin Humo special award for contribution to development of Uzbekistan cinematography.

At the event, winners of various nominations were awarded with special diplomas and statuettes of Oltin Humo national award.

(Source: UzA)





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