Uzbekistan talks investment priorities for 2021

Business Materials 14 January 2021 11:19 (UTC +04:00)
Uzbekistan talks investment priorities for 2021

BAKU, Azerbaijan, Jan. 14

By Klavdiya Romakayeva - Trend:

Uzbekistan plans to involve more than 2,000 new enterprises in export activities and to organize the export of 120 new types of finished products, Trend reports referring to the press service of the Ministry of Investments and Foreign Trade of Uzbekistan.

Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov, Deputy Ministers of Investments and Foreign Trade, the leadership of the Ministry of Foreign Affairs, commercial banks and other departments, as well as representatives of the media and the public discussed the results of investment and foreign trade activities of the Uzbekistan in 2020 and priorities for 2021.

According to the information, the volume of foreign direct investment in fixed assets by the end of 2020 amounted to $6.6 billion, increasing by 1.5 percent compared to the same period in 2019. Some 197 projects were implemented within the framework of the Investment Program, due to which 38,000 jobs were created.

In addition, 10,586 projects were implemented for a total of 59.1 trillion soums ($5.6 billion) within the framework of regional investment programs, which made it possible to create 131,500 new jobs.

Also, the indicators of foreign trade activity were considered according to which the volume of exports by the end of 2020 amounted to $15.1 billion. At the same time, export deliveries of 47 types of new types of products were established and new promising markets were mastered in a number of countries.

In addition, the leadership of the ministry shared plans for the coming year, detailing the priority tasks in the near, medium and long term, new principles and mechanisms of work, and disclosing information on the expected indicators of investment and foreign trade activity in 2021.

Thus, according to the forecast, the volume of foreign investment will amount to $10.5 billion, of which $7.6 billion will be foreign direct investment, and 226 large and industrial projects of high economic importance will be put into operation, which will create 34,000 workers places.

Moreover, it is planned to develop 94.8 trillion soums ($9 billion) and introduce 7,106 investment projects within the framework of regional investment programs, as a result of which about 162,000 new jobs will be created.

In this context, it was announced that this year, a study of the structure of imports of Uzbekistan, the CIS countries, Central and South Asia, Turkey, South Korea and China, as well as a detailed analysis of the investment and industrial potential of industries and regions will be carried out.

The ministry noted that the comparison of these indicators will allow a new approach to the development of investment proposals and ensure a high economic effect from the implementation of these projects.

It was also announced that the expected export volume in 2021 will amount to more than $17 billion, which will be ensured by a significant increase in export supplies in such areas as agriculture, textile, silkworm breeding and electrical engineering, etc.


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