Uzbek President declares 2019 as Year of Active Investments

Uzbekistan Materials 28 December 2018 23:26 (UTC +04:00)

Uzbek President Shavkat Mirziyoyev in his annual message to the parliament declared 2019 as the Year of Active Investments and Social Development on Friday, Xinhua reported.

"Only by developing economics, we can successfully resolve various contradictions and problems accumulated in the social field," Mirziyoyev said, adding investment is the driving force for economic growth and helps attract new technologies and highly qualified experts.

He said that the goals in the economic field next year are focused on creating an open economy, enabling people to better adapt to the development of market economy, maintaining liberalization of foreign exchange market, combating the shadow economy, and increasing labor productivity and employment opportunities through active entrepreneurship.

The goal of investments is to increase the standard of living of people in Uzbekistan, Mirziyoyev said.

According to the State Committee of Investment of Uzbekistan, Uzbekistan plans to use foreign direct investment worth 4.2 billion U.S. dollars in 2019, which is 1.5 times more than that in 2018.

During the past two years, Uzbekistan has taken a series of measures to promote economic reforms, including deregulation of foreign exchange, reduction of tax burdens and preferential for foreign investment.