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Uzbekistan dislcloses investment growth

Business Materials 5 May 2015 20:55 (UTC +04:00)

Tashkent, Uzbekistan, May 5

By Demir Azizov- Trend:

Uzbekistan used investments worth $2.7 billion in the equivalent to 8.7 percent-growth in January-March 2015 compared to the same period of 2014, the Uzbek Ministry of Economy and the State Statistics Committee said on May 5.

Over $660 million or 24.3 percent in the total volume of used investments accounted for foreign investments and loans, including $580 million - foreign direct investments. The total volume of foreign investments increased by 12.1 percent, while foreign direct investments - by 10 percent compared to the same period of 2014.

The amount of the funds of the Uzbek Reconstruction and Development Fund, spent for the implementation of large investment projects in strategic sectors of the economy, increased in the total volume of investments by 5.6 percent up to $81.1 million.

"The largest share in the structure of the investments used since early 2015 accounted for an equity of economic entities (36.3 percent of a total volume) with 28.3 percent-growth compared to the same period of 2014," the statement said.

The implementation of 53 new investment programs started in early 2015 as part of the investment program for 2015. The total cost of the projects is $4.8 billion. Moreover, 434 new production facilities have been commissioned as part of the implementation of territorial programs for socio-economic development of regions.

Of the total number of implemented projects, 179 account for the industry of construction materials, 141 - food industry, 99 - textile and apparel industry, 56 - furniture and paper industry, 37 - chemical and petrochemical sphere.

The dynamic development of industrial spheres focusing on manufacturing products with high added value has been ensured during the Q1 of 2015. These spheres include: light industry (excluding ginning) - 120 percent (including cotton industry - 120.1 percent, knitted goods - 114.5 percent, apparel - 120.6 percent, tanning - 118.4 percent) compared to the same period of 2014, ferrous metallurgy - 111.9 percent, woodworking - 108.9 percent, food - 114.8 percent, chemical and petrochemical industry - 109.3 percent.

During the realization of the 504 projects included in the production localization program, the manufacturing of over 430 new kinds of products was developed, and the estimated effect of import substitution exceeded $260 million.

The manufacturing of 19 new types and 151 new models of ready sewing and knitted products, 98 new types of confectionery, fruits and vegetables, and canned meat and dairy products was developed as part of the ongoing actions to expand the range of consumer goods.

As a result, the consumer goods production rose by 11.2 percent, as well as the production of food commodities increased by 19.2 percent and non-food commodities by 6 percent.

An $8.1 million worth replacement of 130 worn-out equipments was carried out at large enterprises, and the manufacturing innovative products increased by 1.7 times.

As a result of the actions taken, the labor productivity in industry rose by 6.1 percent, production costs at large enterprises fell by an average of 9 percent and the energy intensity of GDP fell by 10.1 percent.

Edited by CN

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