This week, key topics were discussed in the fields of ecology, economy, and finance. In this weekly roundup, Spot has gathered the most important articles and news that you might have missed.
Ecology
The Ministry of Ecology conducted a new raid at 30 greenhouse farms near Tashkent on the night of February 7-8. Inspectors found that some greenhouses were using polluting substances for heating, particularly rubber tires. Eight greenhouses were fined.
Shavkat Mirziyoyev approved a state program for 2025 by decree on February 7. It includes restrictions on the sale and use of gasoline AI-80. The document also outlines measures for the development of a "green" economy and energy. Specifically, from April 1, it is planned to implement "green tariffs" for electricity generated from solar and wind sources, and from September 1, a special platform for certifying "green entrepreneurs" will be launched. Producers of burnt and raw bricks will pay a resource extraction tax at double the rate starting in 2026.
The Attorney General's Office has been instructed to establish "strict control" over the implementation of the plan for the installation of solar panels. The Ministry of Energy, in collaboration with local administrations, will develop a program for the installation of solar panels and solar collectors in 2025.
The "Uzenergoinspektsiya" will be able to identify instances of "wasteful, illegal, and inefficient use of fuel and energy resources" around the clock and monitor the quality of the fuel and energy resources being sold. Additionally, controls over the sale of low-quality fuel are being simplified.
Banks
The Central Bank has issued licenses to 11 new microfinance organizations. Most of these were established by state banks. In December, the president instructed them to create microfinance structures due to the rising demand for microfinance and factoring services.
By the end of 2024, the volume of microloans (45.83 trillion sums) and microcredits (17.4 trillion sums) increased by more than half. In the second half of the year, the growth rate of microloans accelerated, and in December, an absolute record was set at 5.1 trillion sums. At the same time, the issuance of consumer and auto loans fell by half last year.
The president signed a law allowing the creation of microfinance banks (MFB). The changes allow for the transformation of microfinance organizations into MFBs, and MFBs into commercial banks. MFBs will focus on loans for microbusinesses and self-employed individuals, which must constitute at least 70% of their loan portfolio. They will also be able to accept deposits of up to 200 million sums and issue loans of up to 5 billion sums.
The minimum charter capital for MFBs will be 50 billion sums. Banks that have not increased their charter capital to the previously established minimum level will be able to transform into MFBs. To convert into an MFB, preliminary approval from the Central Bank is required, followed by a license.
Mortgage notes can be transferred online. Additional agreements with amendments to the mortgage notes will be concluded through the EPIKU.
Other news
Starting March 1, the cost of SMS notification services in the Uzcard payment system will double. The price of each SMS will rise from 84.2 to 168.4 sums. The company explained this by "significant increases in external economic factors affecting the cost of services."
Against the backdrop of a cold snap from February 9-12, the supply of gas to CNG stations was temporarily restricted. The reduction in gas supply to methane refueling stations coincided with an accident on the main gas pipeline "Bukhara-Ural" in the Bukhara region. Initially, the Ministry of Energy announced restrictions on the operation of gas stations but later refuted its own statement.
As of February 5, a register of controlled persons has been launched in Russia, which includes foreigners who have committed violations in the field of migration legislation. Migrants included in the list must either leave Russia or regularize their status through the Russian Ministry of Internal Affairs by April 30. The Embassy of Uzbekistan urges citizens to check their status on the website of the Russian Ministry of Internal Affairs and take measures for legalization to avoid consequences.
Streetpark Systems won the tender to organize a unified information system for urban parking in Tashkent. Previously, the company had won a repeat auction for leasing land for parking organization.
The "white" import of mobile phones increased by almost a quarter over the year. The total value of shipments rose by nearly 56% to $374.5 million.
The Cabinet of Ministers approved the procedure for conducting educational activities. Individual entrepreneurs, legal entities, and self-employed individuals have the right to engage in educational activities. If the activities are conducted on a paid basis, the organizer must enter into a written or electronic contract with the participants.
The president approved amendments to the legislation regulating corporate relations. The limited liability company with additional responsibility as a type of legal entity is abolished. For limited liability companies, mandatory state registration of the charter agreement and amendments to it is canceled, while the charter remains subject to registration. The concept and features of a consortium agreement are also defined.
Quote of the week
The head of the Department of Foreign Trade of the Ministry of Investments, Industry, and Trade, Inomjon Abdurakhmanov, commented on the increase in the recycling fee for electric vehicles in Uzbekistan starting May 1.
Abdurakhmanov noted that the recycling fee is "one of the measures for regulating foreign trade activities, which can be used to ensure environmental safety, protect the health of citizens and the environment from the harmful effects of vehicles that have lost their consumer properties, as well as to develop the industrial sectors of the country and support local manufacturing enterprises."
Against the backdrop of rising imports of electric cars, the government expects that by 2035, Uzbekistan will generate over 10,000 tons of waste from expired battery packs.
Abdurakhmanov also compared the final cost of a new electric car from China priced at $20,000 when imported into the EU, Russia, and Uzbekistan, excluding transportation costs. According to his calculations, the price of the imported electric car in the EU will be $34,200 (customs duty of 55%, VAT of 15%, and recycling fee of $200), in Russia - $29,600 (excise tax of 15%, recycling fee of $2,600, and VAT of 20%), in Uzbekistan - $25,900 (zero customs duty, VAT of 12%, and recycling fee of $3,500).
"This indicates that in Uzbekistan, the interests of consumers are prioritized," concluded the representative of the Ministry of Investments, Industry, and Trade.
Figure of the week
The exchange rate of the dollar set by the Central Bank on Thursday, February 13, reached a historical maximum and for the first time exceeded the 13,000 sums mark. Since the beginning of the year, the American currency has risen by 99 sums or 0.77%.
It was also reported this week that in 2024, the Central Bank conducted currency interventions totaling $7.6 billion. Compared to 2023, the regulator's currency interventions decreased by more than 6% from $8.1 billion.
Articles of the week
The head of the real estate agency "Etazhi" in Tashkent, Arthur Yugai, shared with Spot the mistakes made during the five years of the company's existence. The entrepreneur talked about how he viewed employees through the lens of his own perspectives, how he attempted to rapidly change the established market, and how the performance of "Etazhi" in Tashkent struggled to keep pace with its own growth.
Spot examined the conditions for offline and online deposits in the national currency and categorized them into two groups based on the goals of depositors - flexible conditions and deposits with maximum profitability. At the time of publication, the maximum interest rate stands at 26% per annum.