The ISO code of Uzbekistan is UZ according to the ISO 3166 standard. The local name of the country is Uzbekiston Respublikasi. Uzbekistan capital city is Tashkent. People in Uzbekistan speak the Uzbek language. On 1 September 1991, Uzbekistan emerged as a sovereign political entity. In the year 09/01/1991, Uzbekistan emerged as a sovereign political entity. The largest city in Uzbekistan is Tashkent.
Uzbekistan is located in the UTC +05:00 time zone, which is also called Uzbekistan Time or UZT. The internet country code top-level domain (ccTLD) for Uzbekistan is .uz. The International dialing code for Uzbekistan is 998. People in Uzbekistan drive on the right side of the road. Total land area of Uzbekistan is 447,400 km² (approx. 172,741 mi²). Uzbekistan is a landlocked country.
Uzbekistan is located in Asia. Uzbekistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Uzbekistan faces various issues, including shrinkage of the Aral Sea as a result of growing concentrations of chemical pesticides and natural salts, these substances are then blown from the increasingly exposed lake bed and contribute to desertification, water pollution from industrial wastes and the heavy use of fertilizers and pesticides is the cause of many human health disorders, increasing soil salination, soil contamination from buried nuclear processing and agricultural chemicals, including DDT.
Doing business in Uzbekistan
We offer various corporate services in Uzbekistan jurisdiction. These services can serve both, people coming from Uzbekistan and foreigners. If you plan on doing business in Uzbekistan you might be interested in contacting us.
To find out about starting your business in Uzbekistan click on company formation in Uzbekistan.
To find out how to open a bank account in Uzbekistan and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Uzbekistan.
Choose preferred service below or continue reading to find out more about Uzbekistan.
Demographics of Uzbekistan
The total population of Uzbekistan is 32,364,996 people. In Uzbekistan, the population density is 69 people per square kilometer (180 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is diverse according to a fractionalization scale which for Uzbekistan is 0.4125. Uzbekistan has approximately 1150000 foreign immigrants. The median age is approximately 27.1 years. In Uzbekistan, 36.52 in every 100 people use internet. Uzbekistan has a Human Development Index (HDI) of 0.661.
The majority religion of Uzbekistan is Islam, Uzbekistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Uzbekistan.
Culture of Uzbekistan
People in Uzbekistan speak the Uzbek language. According to data on inbound tourists in Uzbekistan, 1,969,000 tourists arrive in the country each year. One of the most popular national dishes of Uzbekistan is o'sh. To read more click on culture of Uzbekistan.
Geography of Uzbekistan
Uzbekistan is considered to be a large nation because of its total area. Its total land area is 447,400 km² (approx. 172,741 mi²). Uzbekistan is located in Asia. Its capital city is Tashkent. Uzbekistan has 5 neighbouring countries. Its neighbours include Afghanistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan. Total length of land borders of Uzbekistan is 6893 kilometers (~2,661 miles).
The highest point of Uzbekistan is Khazret Sultan, with its official height being 4643 m (15,234 ft). Including land mass and EEZ, the total area of Uzbekistan is approximately 447,400 km² (~172,741 mi²). The most notable natural resources found in Uzbekistan are natural gas, petroleum, coal, gold, uranium, silver, copper, lead and zinc, tungsten, molybdenum.To read more click on geography of Uzbekistan.
Economy of Uzbekistan
The currency of the country is Uzbekistani so'm. The symbol used for this currency is som, and it is abbreviated as UZS. 7.2% of population in the country are unemployed. The total number of unemployed people in Uzbekistan is 2,330,280. Each year, Uzbekistan exports around $14.91 billion and imports roughly $12.64 billion. The Gini Index of the country is 36.8. Uzbekistan has a Human Development Index (HDI) of 0.661.The Global Peace Index (GPI) for Uzbekistan is 2.187. Uzbekistan has a government debt of 8.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. Uzbekistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are textiles, food processing, machine building, metallurgy, mining, hydrocarbon extraction, chemicals.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Uzbekistan is $172,298 billion. Each year, consumers spend around $17,718 million. The ratio of consumer spending to GDP in Uzbekistan is 0%, and the ratio of consumer spending to the world consumer market is 0.0511. The corporate tax in Uzbekistan is set at 8%. Personal income tax ranges from 7.5% to 22%, depending on your specific situation and income level. VAT in Uzbekistan is 20%. In 2013, Uzbekistan received 255.2 million USD in foreign aid.In 2014, the foreign aid amounted to 203.1 USD.To read more click on economy of Uzbekistan.
Infrastructure of Uzbekistan
Infrastructure quality in Uzbekistan is rated to be at 2.01. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Uzbekistan, 100% of the population has access to electricity. There are 56,075 internet hosts in Uzbekistan. Uzbekistan has 53 airports nationwide.
The logistics performance index of Uzbekistan is 2.39. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.87. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
To read more click on infrastructure of Uzbekistan.
Politics of Uzbekistan
Uzbekistan, is a presidential republic. With regard to political and civil freedoms, Uzbekistan is 3. Citizens in Uzbekistan experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Shavkat Mirziyoyev.
According to the World Bank Group, the government effectiveness index of Uzbekistan is -0.63. This indicates that the government of Uzbekistan is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Uzbekistan, the legislative power is vested in a Supreme Assembly. The Global Peace Index (GPI) for Uzbekistan is 2.187. The strength of legal rights index for Uzbekistan is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Uzbekistan received 255.2 million USD in foreign aid. In 2014, the foreign aid amounted to 203.1 USD. Uzbekistan is a member of the United Nations (UN). On 2 March 1992, it joined the UN as a full member state. Uzbekistan is a member of the World Bank. To read more click on politics of Uzbekistan.
Environment of Uzbekistan
Uzbekistan emits 3.9 metric tons per capita of CO2. 19690 km² of Uzbekistan's territory is covered in forests. and forest land comprises 4% of all the land in the country. To read more click on environment of Uzbekistan.
Company formation in Uzbekistan
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Uzbekistan.
When establishing a company in Uzbekistan, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Uzbekistan that will affect the establishment and growth of one's business. Contact us or click on company formation in Uzbekistan to read additional information when setting up a business.
Bank account opening in Uzbekistan
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Uzbekistan. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Uzbekistan, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Uzbekistan or contact us.