Uzbekistan spends over $7B investment

Uzbekistan spends over $7B investment

Tashkent, Uzbekistan, Aug. 3

By Demir Azizov- Trend:

Uzbekistan in January-June 2015 spent investment in the amount equivalent to $7.3 billion, which is a 9.8 percent increase over the same period in 2014, the message of the Ministry of Economy and the State Statistics Committee of Uzbekistan said.

The message said that over $1.5 billion, or 21.3 percent, accounted for foreign investments and loans in the total volume of investments, including $1.2 billion accounted for foreign direct investment. Compared with the same period of 2014, the total volume of foreign investment increased by 11 percent, foreign direct investments - by 10.9 percent.

The amount of assets of the Fund for Reconstruction and Development of Uzbekistan, aimed at the implementation of major investment projects in strategic sectors of the economy, increased in the total investment by 5.6 percent - up to $225 million.

"The greatest volume of investments spent during the first half of 2015 amounted to own funds of economic entities (32.3 percent of the total volume), which increased by 31.8 percent compared to the same period of 2014," said the message.

Since the beginning of 2015, the implementation of 63 projects with a total value of $160.9 million was completed within the framework of the investment program for 2015. The implementation of five projects worth $16.1 million has been completed in special industrial zones since early 2015.

In total, some 1,866 production capacities were commissioned in the country during the first half of 2015, which created more than 24,800 new jobs. The largest number of projects on creation of the new production capacities and expand the existing ones was implemented in the production of building materials (666 projects), food industry (461), textiles and clothing (337), furniture (169), chemical and petrochemical industries (149).

During this period, replacement of 819 units of obsolete and worn out equipment in the amount equivalent to $43.3 million has been carried out at large enterprises, a reduction in the cost of production in large industrial plants by an average of 9.6 percent has been achieved, which provided a 6.4 percent growth of labor productivity in industry and a 10.4 percent reduction of energy intensity of GDP.

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