BAKU, Azerbaijan, Oct. 26
By Klavdiya Romakayeva - Trend:
Uzbekistan plans to bring annual investment from China to $5 billion and to $1 billion from South Korea by 2025, Trend reports with reference to the Ministry of Investment and Foreign Trade.
On October 24 of this year a discussion was held on the progress of the implementation of tasks to strengthen trade, economic, investment, financial and technical, transport, logistics and cultural and humanitarian cooperation with China and South Korea.
During the meeting, a task was given to create a special working group consisting of the heads of relevant departments of the relevant ministries and departments. The task of this working group will be practical work to accelerate the implementation of projects and initiatives with Chinese and Korean partners.
This approach is a prerequisite for achieving the targets set by the president of Uzbekistan for cooperation with China and South Korea. The annual volume of investments from China is planned to reach $5 billion, and to $1 billion from South Korea by 2025.
At the same time, the volume of annual exports to China by 2025 should amount at least to $3 billion, and at least $800 million to South Korea.
According to the State Statistics Committee, in 2019 Uzbekistan mastered investments in fixed assets for 195.9 trillion soums ($20.6 billion at the exchange rate of the Central Bank of Uzbekistan as of December 31, 2019). Of these, 43.6 percent are foreign investments.
China ranked first in terms of allocated funds (26.2 percent). It is followed by Russia (10.6 percent), Turkey (5.2 percent), Germany (3.3 percent) and Switzerland (2.9 percent).
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