BAKU, Azerbaijan, Nov. 10
By Klavdiya Romakayeva - Trend:
Uzbekistan plans to commission a total of 93 projects worth 3.3 trillion soums ($319 million) in Khazorasp free economic zone of the Khorezm region, Trend reports citing press service of the Ministry of Investments and Foreign Trade.
The Government Commission for the Development of Exports and Investments under the leadership of Deputy Prime Minister of the Republic of Uzbekistan Sardor Umurzakov carried out work to study the implementation of measures aimed at stimulating comprehensive socio-economic development and providing targeted support to entrepreneurs and exporters in the region.
As of November 1, 2020, 1,105 investment projects worth 2.5 trillion soums ($241 million) have been implemented, due to which more than 5,000 jobs have been created.
The project proposals developed by the investment company Khorezm Invest Project, established by Uzbek Industrial and construction bank, National Bank of Uzbekistan and Asaka Bank the commercial banks, were studied, and instructions were given to accelerate the practical implementation of these projects.
Additional instructions were given to increase the rate of localization, in particular, by accelerating the implementation of 91 investment projects planned for implementation, the launch of which will increase the production of import-substituting products by 1.8 trillion soums ($174 million).
The progress in fulfilling the instruction on the creation of 18 scientific and industrial clusters in the region was studied, the launch of which will ensure the production of export-oriented products in the amount of $68.8 million per year, and increase the volume of budget revenues by 83.1 billion soums ($8.02 million) per year.
The measures taken to increase the efficiency of Khazorasp free economic zone and six small industrial zones operating in the region were considered in a separate order.
Currently, 56 projects worth 370 billion soums ($35.7 million) have been launched in these zones, and in the period 2020-2021 it is planned to commission a total of 93 projects worth 3.3 trillion soums ($319 million).
In addition, measures were discussed to form a targeted program for the socio-economic development of the Khorezm region in 2021, with an emphasis on increasing the share of industry in the gross regional product, creating new jobs, and increasing export potential.
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