Uzbekistan to spend $600M for food industry development until 2021
Tashkent, Uzbekistan, April 10
By Demir Azizov - Trend:
Uzbekistan plans to invest $595.9 million in the development of the food industry in 2016-2020, a statement published on the country's economy ministry's website said.
The development program approved by the country's leadership includes 180 investment projects on construction of new enterprises, reconstruction and modernization of existing enterprises.
The program will be financed through own funds of enterprises, loans of Uzbek banks and foreign direct investments.
According to the economy ministry, the program implementation will increase the export of fresh and processed fruits and vegetables by more than 2.7 times and use about 200 kinds of new products.
Some 15 trade and logistics centers with a total capacity of 60,000 tons, specializing in processing, storage and transportation of fresh and processed fruits and vegetables, are planned to be established abroad during five years as part of the export intensification.
According to the ministry, the production of fruits and vegetables, grapes, melons and gourds increased by 1.27 times from 14.8 million tons to 16.3 million tons, meat - 1.24 times, milk - 1.33 times in Uzbekistan in 2011-2015. This increased the volume of manufactured processed products by 2.5 times, the range of products - 1.9 times up to 628 kinds.