On November 4, President Shavkat Mirziyoyev chaired a meeting on improving the efficiency of investment projects.

As a result of the implementation of thoughtful economic diplomacy, the volume of the country’s exports and investments is dynamically growing. In particular, over the past five years, the volume of foreign investment has tripled. Due to this, hundreds of factories and enterprises were put into operation, the volume of products and services increased, employment of people was ensured, and new facilities were built.

Activities in this direction continue in all industries and regions. Since the beginning of this year, 179 large and 10 thousand regional projects have been launched. 76 trillion UZS have been invested in them. 143 thousand people were employed.

Measures for the timely implementation of new projects and bringing the already launched production to full capacity were discussed at the meeting.

It was emphasized that 442 projects launched in recent years are not fully loaded. An on-site study showed that 238 of them have problems sourcing raw materials and entering markets, 115 projects have faced credit-related problems, 35 projects – with infrastructure. Hokims of the regions were instructed to assist entrepreneurs in solving these problems. The Ministry of Investments and Foreign Trade has been tasked with launching 139 large and 3,000 regional projects by the end of the year.

The Head of the state noted that each invested sum, should have an economic effect and serve the interests of people. In this regard, the intended use and effectiveness of loans taken under the projects will be taken under strict control.

The main attention in industrial projects is paid to the production of modern, competitive, in-demand products. Therefore, advanced foreign technologies have been purchased for them.

It was noted that more than 270 lines of equipment imported this year have not yet been installed. The need to simplify procedures and speed up the commissioning of equipment was noted.

Shavkat Mirziyoyev at meetings with voters before the Presidential elections said that a new system for the implementation of investment projects would be introduced. For this, it is planned to create district project groups and holding companies in each region. These new structures will become business partners of entrepreneurs. They will support entrepreneurs on issues such as developing a business idea, attracting investors and bringing projects to full capacity.

The Head of the state gave instructions on a tight schedule and effectively organize this new system quickly.

The President also noted that the activity of Uzbekistan’s ambassadors in foreign countries is important in increasing the volume of foreign investments and exports. The heads of regions and industries were instructed to develop promising projects and interact with ambassadors during their implementation.

Deputy prime ministers, ministers and hokims provided information on the discussed issues. 

Source: UzA