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Issues in investments, exports and international cooperation discussed

2023-03-28 | Politics

On March 27, President Shavkat Mirziyoyev chaired a meeting on investment, exports and international cooperation.

Thanks to the favorable business environment in Uzbekistan, the number of foreign enterprises has increased from 5,000 to 16,000 in recent years. Foreign direct investment is attracted to almost every region and city.

In five years, the number of exporting enterprises has increased from 4.5 thousand to 7.2 thousand. The range of exported products also expanded from 1.5 thousand to almost 3 thousand, and the geography of export – from 139 to 164 countries. The export of finished products doubled, and its share in the export structure increased from 50 to 65 percent.

In continuation of this work, it is planned to use about $11 billion of foreign direct investment this year. 12,000 new projects worth $23 billion will be launched in the regions, including more than 3,000 large and medium-sized production facilities.

Now it is necessary to implement them for the benefit of people.

Responsible officials reported on the ongoing work in this direction. It was noted that since the beginning of the year, $764 million of foreign investment has been disbursed, 1.3 thousand large and medium projects have been launched. Exports amounted to $3 billion.

The President of Uzbekistan stressed the insufficiency of these results and noted the need for making twice as much effort, especially against the backdrop of the difficult situation that has developed in the world.

Issues of logistics for the delivery of equipment to the country and the export of domestic products to foreign markets are of particular importance. In addition, it is becoming increasingly difficult to attract foreign investment. The issues of providing projects with infrastructure are relevant.

In this regard, the President noted the need for monitoring the implementation of projects daily in the context of regions and industries, and promptly resolving emerging problems. It was noted that as a result of the implementation of 304 large and 3,000 regional projects, this year it is possible to produce products worth 10 trillion UZS and export for $200 million.

Instructions were given to constantly analyze foreign markets, to seek opportunities for the rapid development of new markets and new transport corridors. It was noted that in the face of increasing competition, it is important to improve product quality and reduce cost.

It was instructed to introduce a system of financing projects aimed at the localization of high-tech products and value-added goods, the creation of an Industrial Policy Research Center at the Ministry of Investments, Industry and Trade.

Source: UzA