Level of implementation of investment projects in Uzbekistan doesn’t meet plan
Baku, Azerbaijan, Aug 24
By Fakhri Vakilov-Trend:
As a result of large-scale reforms in Uzbekistan, the country's gross domestic product grew by 5.8 percent in the second quarter of 2019 compared to the same period last year, Trend reports citing Uzbek media.
The implementation level of reforms was discussed at a meeting of the Senate of the Parliament of Uzbekistan. At the meeting, the report of the Cabinet of Ministers of Uzbekistan on their implementation of the State program "Year of Active Investment and Social Development" in the second quarter of 2019 was reviewed.
It was reported that the budget revenues amounted to about 51 trillion soums, or 109 percent of the forecast. More than 2.6 trillion soums remained at the disposal of local budgets, or 1.5 times more compared to the same period last year.
As a result of ongoing reforms to improve the investment environment in the country and strengthen the attraction of foreign direct investment in the first half of this year, the share of direct investment in the capital increased 2.5 times and reached $1.7 billion.
In the first half of this year, 9,088 investment projects with a total cost is 60.3 trillion soums were developed within the Program, and creation of 172,488 jobs was envisaged.
However, in this period, only 3,332 projects (37 percent) in the amount of 13,6 trillion soums (23 percent) were implemented, and only 38,252 jobs (22 percent) were created.
In the regions, the level of implementation of investment projects in the first half of the year was 44 percent. The city of Tashkent (27 percent), Tashkent (31 percent) and Kashkadarya (37 percent) regions are the lagging regions.
The Cabinet of Ministers of Uzbekistan is recommended to develop specific measures to ensure the rigorous implementation of unfulfilled items of the Program, and eliminate problems that were identified by the Senate of the Parliament during the study in the regions and regions and that have a negative impact on the investment environment .
($1 = 9366 UZS on Aug 24)
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