Tashkent, Uzbekistan, Jan. 16
By Demir Azizov – Trend:
Government of Uzbekistan needs to analyze the state of affairs regarding the foreign investments, especially direct ones, President Shavkat Mirziyoyev said at a meeting of the country’s Cabinet of Ministers.
He added that the direct investments in Uzbekistan dropped to 30 percent.
Loans of international financial institutions are used inefficiently, especially in the Uzbek Republican Road Fund and the Uzbekistan Communal Services Agency, the Uzbek president noted.
“One of the main obstacles to the growth of investments is related to the bureaucratic delays during the examination of projects and while holding tenders,” Mirziyoyev said. “There are no significant changes or the results even after the establishment of the agency for assessment of feasibility studies of projects.”
In addition, the situation around attraction of foreign investments is very unsatisfactory due to the fault of heads of administrations of the Uzbek districts, said the president.
More than $16.6 billion was invested in the Uzbek economy last year, which is 9.6 percent more than in 2015, according to the data announced at the session of the Uzbek government. Of $16.6 billion invested in the Uzbek economy in 2016, the spent foreign investments and loans grew 11.3 percent and exceeded $3.7 billion.