Uzbekistan considers measures for expanding industrial products export

Uzbekistan Materials 19 January 2021 16:13 (UTC +04:00)
Uzbekistan considers measures for expanding industrial products export

BAKU, Azerbaijan, Jan. 19

By Klavdiya Romakayeva - Trend:

Uzbekistan plans to increase the export of goods and services by 20 percent in 2021, Trend reports with reference to National Strategy for 2021.

According to the strategy, the implementation of the plan was entrusted to the Ministry of Investment and Foreign Trade, local governors, and interested departments. It was noted that the export of goods and services should reach $12 billion by the end of the year.

The document also says that it is necessary to take measures to attract new production to export, which will be launched as part of investment programs.

In addition, the authors of the project propose to expand the export of industrial products, sharply reducing the export of raw materials. It is proposed to compensate for the deficiency by processing resources within the country.

According to the briefing on investment and foreign trade activities, 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.

At the same time, it is planned to involve more than 2,000 new enterprises in export activities and establish the export of 120 new types of finished products.

According to the forecast for 2021, 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.

Earlier it was reported that the volume of exports to Uzbekistan in 2020 amounted to $15.1 billion. At the same time, export supplies of 47 types of new types of products were established and new promising markets were developed in a number of countries.


Follow the author on Twitter: @romakayeva