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16 January 2020

Issues of expanding exports, investments and localization are considered

On 15 January, the President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting on the issues of expanding exports, investments and localization.

Thanks to measures taken to support the sphere last year, the export figures of Uzbekistan increased by 28 percent. The volume of regional industrial exports increased almost 2 times.

For further increasing the export volumes, a new system for determining and monitoring forecast indicators began to operate in 2020. Thus, the export forecast is approved for a three-year period. The plan for 2020 is defined at a level that exceeds last year by 22 percent.

The need for the effective use of potential in such leading industries as textiles, horticulture, leather and shoe production, construction materials, and the automotive industry was indicated.

Uzstandard Agency was entrusted with local khokimiyats to introduce the international standard Global G.A.P. in 155 farms, and the State Plant Quarantine Committee to bring agricultural products in line with foreign market requirements.

Instructions were given on organizing an export and pre-export financing system to increase the attractiveness of export activities and expand the mechanism for compensating transportation costs.

At the meeting, investment support activity was reviewed.

Almost 30 percent of investments mastered last year from all sources were foreign direct investment. Investments began to come in remote areas with poor industrial development. 145 sectoral and 167 regional projects worth 5.4 billion dollars were implemented.

Almost 30 percent of investments mastered last year from all sources were foreign direct investment. Investments began to come in remote areas with poor industrial development. 145 sectoral and 167 regional projects worth 5.4 billion dollars were implemented.

Starting this year, investment programs are being formed according to the new system. For 2020, a list of 1569 projects implemented through private and direct investment was approved. According to the program, this year it is planned to use 233 trillion 200 billion soums, including 7.1 billion dollars of foreign direct investment and loans.

Responsible persons were instructed to complete the pre-design work, the signing of contracts with foreign investors and take their execution under strict control.