Uzbekistan seeks to realize investment projects worth $9B

Business Materials 8 December 2017 17:32 (UTC +04:00)
Uzbekistan seeks to realize investment projects worth $9B

Baku, Azerbaijan, Dec. 8

By Nigar Guliyeva - Trend:

During the next three years, Uzbekistan plans to realize investment projects worth around $9 billion, Sputnik Uzbekistan reported referring to Azim Ahmedkhodzhayev, the head of the State Investment Committee of Uzbekistan.

Noting that 5,000 foreign companies with foreign capital operate in the country, he said that this is a small figure.

"This figure is small for us. We have great opportunities, and we will be able to significantly increase this figure in the next three years. Now, there are more than 300 investment projects in various sectors of the economy in our view, and we estimate the amount of these investment projects to be around $9 billion. A significant part of these projects fall on sectors of metallurgy, textile, mining, tourism and construction, " he said.

Ahmedkhodzhayev further said that economic diversification is also among the goals in the mid-term. "For Uzbekistan, this is the number one task, and therefore the republic's leadership is ready to create all the necessary conditions for expanding the diversification," he added.

He stressed that the State Committee for Investments is ready to provide every support to any investor, no matter how much he invests, and make his presence in the market as comfortable as possible.

The State Committee for Investments was established by the decree of the head of state on March 31, 2017 in order to fully implement the investment potential of Uzbekistan, further improve the investment climate, develop quality annual investment programs, and create the most favorable conditions for attracting foreign investment.

The Committee has already developed Investment Code, which will become the basic normative legal act in regulating investment activity in Uzbekistan.