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Export volumes to be increased in 2022

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Export volumes to be increased in 2022

Under the leadership of the Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov, an online meeting was held to discuss the results of investment and foreign trade activities in 2021 and measures to further stimulate investment and increase exports in 2022.

The meeting was attended by the heads of ministries and agencies, industry associations, commercial banks and local authorities of the regions, Karakalpakstan and the city of Tashkent.

Information was provided on the results of investment activities achieved in 2021. The total volume of disbursed investments amounted to 254 trillion UZS with a growth rate of 109 percent compared to 2020, of which foreign direct investment amounted to $8.6 billion. In the reporting period, 318 major investment projects worth $5.9 billion were implemented within the framework of the state investment program, and 15,710 projects worth $7.4 billion were implemented within the framework of regional investment programs. As a result, more than 275 thousand new jobs were created.

Instructions were given to improve the mechanisms of work on stimulating investment attraction and providing practical support to the initiators of investment projects, as well as establishing a system of constant monitoring of their implementation with the consolidation of responsible managers and employees.

Reports on measures taken to introduce a new system for stimulating investment activity and project implementation were heard at the meeting. The need for accelerating the formation of regional project groups and establishing their close cooperation with the assistants of hokims of districts and cities on the development of entrepreneurship, employment and poverty reduction, operating in each mahalla, was noted.

The tasks for increasing the export potential and the volume of exported products in 2022 were considered.

Issues related to the implementation of projects funded by international financial institutions and foreign government financial organizations, the progress of negotiations on Uzbekistan’s accession to the World Trade Organization, measures to expand transport infrastructure and increase logistics capacity in the country, as well as other urgent tasks were also considered.

Following the meeting, officials were given additional targeted instructions.

UzA