11 July 2023

The President instructed to prepare a package of new investment projects worth $30 billion

According to the report of Spot, Shavkat Mirziyoyev is holding a meeting on increasing the inflow of foreign investment into the economy of Uzbekistan.

The President announced the introduction of a new system for attracting and developing investments. It will make it possible to allocate $12.1 billion to speed up work on about 1,500 investment projects.

Thus, in order to speed up work on 272 major projects included in the state investment program (total value of $11.5 billion), a responsible executor will be assigned to each of them. They will be selected from among the ministers, deputy ministers, bank top managers.

89 major projects implemented in the regions will be provided with infrastructure. For this, in addition to the 1.2 trillion soums allocated for these purposes, it was instructed to allocate another $100 million.

Regional-scale investment projects will be divided into three categories to organize targeted work for each of them. It was instructed to speed up work on projects with the help of international organizations.

In addition, it is planned to raise $3 billion for the implementation of new projects. For this, among other things, a new approach to working with foreign investors within the framework of international agreements will be introduced.

For each new investor, MIIT will provide an individual “investment manager” reporting directly to the Minister. Managers will constantly keep in touch with entrepreneurs and help them solve problems.

The head of state also noted that the khokims did not use the potential of districts and cities. Consulting companies have prepared over 2,000 promising projects worth $6.5 billion for areas with underdeveloped industry.

MIIT was instructed to form a package of investment projects by region and industry for a total of $30 billion by the end of the year. The projects will be prepared by special groups together with consultants.

In addition, the powers of the Investment Government Commission are being expanded. The President indicated that she had developed 97 major industrial projects worth $6.7 billion, capable of creating 27,000 jobs.

“If these works are carried out correctly right now, rapid growth will begin in our economy, the number of jobs and incomes of the population will increase”, – Mirziyoyev concluded.