THE BALTIC СOURSE: JOINT UZBEK-LATVIAN HUB IS BEING CONSTRUCTED IN RIGA PORT

“The Baltic course”, Latvia International Internet-magazine, published a detailed article on the economic development of our country, as well as the Uzbek-Latvian cooperation at the present stage.

O. Pavuk, the author and editor of publications, has written that Uzbekistan has turned from an agricultural and raw materials Republic into an industrially developed country with independence.

“Private enterprise was virtually nonexistent in the early years of independence in Uzbekistan, today more than 90% of all economic entities are enterprises of small and private businesses, which is the main source of population’s income”.

According to the article, real incomes have increased over the past 24 years in 9 times. The life expectancy of the population has significantly increased. Around 60% of the state budget is directed to the social development. “GDP per capita in purchasing power parity had doubled between 2001 and 2013. Uzbekistan’s entering in the number of states with an income above the world average in 2030 is The main criteria for the country”.

The author gives special attention to the International Investment Forum, held in Tashkent on November 5-6, 2015. It is reported in particular that the major event discussed the privatization of industrial enterprises, the transfer of the state share facilities and experienced professional investors, who are willing to introduce advanced technology and modern methods of corporate governance, to ensure the production of competitive, marketable products and their promotion on foreign markets.

In addition, the online magazine stated that Uzbekistan has been taking measures to simplify the procedures of legal entities’ and individual entrepreneurs’ registration. “Today, it is need less time to open a business in the country than in some other states”.

The report also contains information on the development of the Uzbek-Latvian cooperation on the present stage. It is noted in particular that there are 32 joint ventures in Uzbekistan with participation of the Latvian investments and 16 companies of Latvia are accredited in the country. Areas of their activity are chemical, food, construction, pharmaceutical and tourism industries.

“The Freeport of Riga is currently working to establish a joint hub. In particular, work is underway on the feasibility of the project. Its goal is to transport not only agricultural, but also textiles, manufactured goods, as well as to ensure their sorting and recycling to promote Uzbek products to Europe”.

In conclusion, it noted that Uzbekistan is a stable country in which people are confident in their future. According to the author, implemented gradual reforms, under the leadership of President Islam Karimov, in all spheres of public and political life, the timely identification of the most important education of youth as a national priority, as well as the work on further enhancement of the spirituality in society, give positive results.

Jahon Information Agency, Riga