Uzbekistan projects volume of foreign direct investment for 2021

Finance Materials 28 December 2020 13:04 (UTC +04:00)
Uzbekistan projects volume of foreign direct investment for 2021

BAKU, Azerbaijan, Dec. 28

By Klavdiya Romakayeva - Trend:

Uzbekistan forecasts the volume of foreign direct investment to amount to $7.5 billion in 2021, while the volume of exports will amount to about $17 billion, Trend reports referring to the Center for Advanced Technologies under the Ministry of Innovation of Uzbekistan.

The preliminary results of investment and foreign trade activities for 2020 were discussed in Uzbekistan, and strategic objectives and priorities in work to attract investment and increase exports for 2021 were identified.

During the discussion, the measures implemented this year to support entrepreneurs and exporters in the context of a pandemic were considered in the context of regions and industries.

It was noted that against the background of a 40 percent fall in the global volume of foreign direct investment and a 25 percent decline in the volume of world trade in 2020, in Uzbekistan at the end of 2020 the volume of attracted foreign direct investment is projected at the level of $6.6 billion, which will exceed the indicators of the previous year, and the volume of exports is projected at the level of $15.1 billion.

According to the information, these indicators were achieved due to the implementation of large investment projects in the production of building materials, information and communication sphere, electrical, chemical and light industry, as well as a significant increase in the export of goods and services in the textile, agricultural, mining and metallurgical and transport sectors.

The urgent tasks for the coming year were considered as well. According to the forecast, in 2021 the volume of foreign direct investment will amount to $7.5 billion and the volume of exports - about $17 billion.

It was noted that one of the promising tools for achieving the set goals is an objective analysis of the opportunities available to entrepreneurs to create new and expand existing production facilities by attracting capital investments and modern technologies in the most promising industries.

In addition, the need to prioritize investment projects with the highest economic effect, expressed in the growth of industrial production, an increase in tax revenues to the budget, an increase in exports, and the creation of new jobs, has been pointed out.

Particularly, the management of the Export Promotion Agency was given additional instructions to intensify work with national exporters by providing pre-export financing services, placing and registering domestic goods on international e-commerce sites, and promoting Uzbek brands on world markets.


Follow the author on Twitter: @romakayeva