The main tasks in the sphere of investments and exports have been defined

On January 16, a videoconference was held under the chairmanship of President Shavkat Mirziyoyev to discuss the results of the work done to widely attract investment and increase export volumes, as well as to identify the main tasks for the future, the press service of the head of our state reports.

As a result of the country’s policy of openness and active capital attraction, the economy continues to grow steadily. In particular, in 2024, the gross domestic product increased by 6.5 percent, reaching $ 115 billion. The volume of foreign investment increased by 1.6 times and amounted to about $ 35 billion. 242 large and medium-sized projects worth $ 10 billion have been commissioned. Exports reached $ 27 billion for the first time.

Last year, investment volumes in the mining, oil and gas, chemical and agricultural industries doubled. In 50 districts, the volume of attracted investments exceeded $ 100 million.

The meeting, which was held in a critical spirit, analyzed in detail the existing lags.

The indicators for attracting investments in the textile industry, Uztransgaz, Uzmetkombinat and Uzsuvtaminot systems have decreased. The volumes of investments and grants received from the ministries of ecology, agriculture, digital technologies, transport, construction, health, sports, culture, higher education, preschool and school education do not correspond to the available opportunities.

It was noted that some district khokims have let investment and export issues slide. In particular, the khokims of Beruni, Karauzak, Kungrad, Peshkun, Yangiabad, Kamashinsky, Khanki, Shavat, Romitan, Dekhkanabad, Mirishkor, Chirakchi, Narpay, Nurabad and Gulistan districts, as well as the city of Akhangaran were reprimanded. Syrdarya Region Khokim Akmaljon Makhmudaliev has been dismissed from his post for serious shortcomings in his work.

The meeting defined the main tasks for investments and exports for the current year.

First of all, the issue was considered in terms of regions. The planned investment volume for 27 districts is more than $200 million. However, in 10 districts the plan does not even reach $40 million. Responsible persons were instructed to form new projects in these districts and increase the volume of investments.

The importance of efficient spending of funds was separately emphasized. For example, over the past seven years, more than 6 thousand enterprises have been launched due to investments of $120 billion. Analysis shows that for every $1,000 of investment, an average of $530 of added value is created annually. In the mining industry, this figure reaches $700.

However, in the oil and gas, metallurgy and construction materials industries, the return on investment is relatively low. The same situation is observed in the Syrdarya, Bukhara regions and the Republic of Karakalpakstan.

At 92 new enterprises, the equipment is not in use, which is delaying the repayment of loans. The equipment imported by 105 entrepreneurs is still in customs warehouses.

The President emphasized that increasing the efficiency of investments should be the main task of the heads of regions and industries.

– This will give a powerful impetus to the growth of our economy. Due to guaranteed purchases, many new jobs are created, currency is saved, and related areas are developed. Khokims should understand this and delve into each project in detail, organizing the work as efficiently as possible, – Shavkat Mirziyoyev noted.

Instructions were given on holding fairs with the participation of entrepreneurs to develop new types of products and increase the share of local goods in large investment projects.

Leading enterprises in our country have begun to independently attract foreign financing. To support this process, in accordance with the decree of the President, a Center for Assistance to Entrepreneurs in Entering Foreign Financial Markets was created under the Chamber of Commerce and Industry. It was emphasized that now it is necessary to more actively use this mechanism to train and support entrepreneurs in matters of attracting funds from abroad.

This year, it is planned to implement projects worth 5 billion 200 million dollars using resources from international financial institutions. An emergency headquarters headed by the Prime Minister will be created to ensure the timely implementation of these works.

Projects worth 1 billion 100 million dollars have been agreed upon with the European Bank for Reconstruction and Development, and 1 billion dollars with the Islamic Development Bank. Responsible persons have been instructed to expand cooperation with these banks on the basis of projects without state guarantees, as well as to provide entrepreneurs with the necessary support in attracting financing.

One of the most important indicators of investment efficiency is export. For example, enterprises in free economic zones receive benefits based on the invested capital. This was supposed to help reduce costs and enter foreign markets.

Last year, 589 enterprises operating in 22 free economic zones produced goods worth 42 trillion soums. However, only 18 percent of goods were exported, and 372 enterprises did not supply their products abroad at all.

In this regard, it was noted that from now on, only free economic zones that are focused exclusively on export will be created. In them, together with foreign brands, it is planned to produce products with high added value that are in demand in foreign markets. One of the first such zones will be a textile cluster in the Namangan region on an area of ​​30 hectares.

Another new approach is the transfer of 12 technology parks to the management of foreign companies, which was carried out last year. So far, 27 projects with a total value of 2.5 billion dollars are located there. It has been proposed to expand this experience and create several more technology parks with the participation of foreign companies.

This year, it is planned to increase exports to more than 30 billion dollars. For example, in such areas as the textile and electrical industries, where we have our own raw material base, there is an opportunity to increase exports by 2-3 times.

In this regard, measures will be taken to develop these two leading industries and comprehensively support exporting enterprises.

In particular, a separate factoring organization will be created to provide exporters with working capital, it will be allocated 100 million dollars. Up to 20 thousand dollars of enterprises’ costs for bringing production into compliance with international certification requirements will be reimbursed. Laboratory equipment for R&D centers will be exempt from customs duties. 2 million dollars will be allocated to promote local products through international marketplaces.

Responsible persons have been instructed to analyze opportunities in foreign markets and develop a three-year export strategy.

Additional market mechanisms will also be introduced into the production and processing of cotton. Starting this year, clusters will submit their needs and price offers for cotton to the exchange, and farmers will choose the most favorable conditions and enter into futures contracts. Farmers who do not use preferential loans and grow cotton themselves will receive a subsidy of 10 percent of the exchange price of the cotton they sell. Those who repay preferential loans by December 31 will be able to get back 4 percent of the loan amount.

In addition, owners of household plots engaged in growing agricultural products can become clients of banks.

At the end of the meeting, the head of state once again emphasized the high competition in the world for investments and markets, demanded that responsible persons strengthen business activity and achieve specific results. It was noted that control and demand in this area will be strict.

The Prime Minister was instructed to approve a quarterly plan to ensure the receipt of 42 billion dollars of foreign investment this year and ensure its implementation.

The meeting also heard reports from ministers, industry leaders and khokims.