TASHKENT (TCA) — A video-conference meeting on the issues of accelerating the implementation of investment projects scheduled for the current year was held on January 8 under the chairmanship of the President of Uzbekistan Shavkat Mirziyoyev, the official information agency Jahon reported.
It was attended by members of the government, khokims (governors) of the regions and the city of Tashkent, and heads of diplomatic missions of the country abroad.
An active investment policy is among the most important conditions for achieving stable economic development. In this regard, at the initiative of the President, 2019 was declared the Year of Active Investments and Social Development in Uzbekistan.
The Investment Program for 2019 includes more than 3 thousand projects worth 16.6 billion USD. This is 16 percent more than in 2018. In particular, within its framework it is planned to commission 140 production facilities worth 3.2 billion USD.
At the meeting, it was noted that as a result of active work with foreign countries and investors, foreign direct investment accounts for 25 percent of their total volume. In particular, this year it is planned to allocate 4.2 billion USD within the framework of 320 projects involving foreign direct investment.
The President noted that the most important task of the government should become the unconditional implementation of projects involving foreign direct investment, providing comprehensive assistance to foreign investors.
The meeting paid special attention to implementation of regional projects through foreign direct investment.
Last year, more than 1 billion USD of investments were spent in the regions and 133 new enterprises were put into operation.
This year, it is planned to implement 209 regional projects involving foreign direct investment and to attract 1.9 billion USD, or twice as much as last year.
The President said that for further intensifying the attraction of investors, it is necessary at least once a year to hold investment forums in each region with participation of foreign investors, as well as to ensure participation of domestic entrepreneurs in large international investment forums abroad. The State Investment Committee and the Ministry of Foreign Affairs have been instructed to form schedules for holding investment forums in the regions this year.
At the meeting, a task was set to create a Fund for Foreign Investors Support in Uzbekistan based on international experience.
This year it is planned to attract direct loans from foreign banks in the total amount of 740 million USD by commercial banks of the country. At the meeting, the need for strengthening activities on attracting foreign direct credit resources with low interest rates and a long maturity date was emphasized.