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New investment projects to be realized in Tashkent discussed

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New investment projects to be realized in Tashkent discussed

President of the Republic of Uzbekistan Shavkat Mirziyoyev has been briefed today, May 20, on promising investment projects intended for implementation in the city of Tashkent.

At an off-the-schedule session of the Tashkent City Kengash of People’s Deputies on 21 December 2018, tasks were outlined to transform the capital into a large business center by vigorously attracting investments and setting up modern enterprises. On 4 January 2019, a resolution was passed by the Cabinet of Ministers of the Republic of Uzbekistan defining additional measures to attract foreign direct investments into the infrastructure development of Tashkent.

Today, steadfast efforts are undertaken in the capital city to establish high-tech industries and expand the production of higher-added-value goods with the efficient use of the infrastructure of small industrial zones and technoparks. This issue is under the constant attention of the head of state. At the meeting held by the President on May 13 this year, analyzed were the current works on the creation of modern industrial enterprises in Tashkent with the attraction of foreign direct investment.

In accordance with these directives, 19 new investment projects for a total amount exceeding 617 million US dollars have been prepared for implementation in the city of Tashkent.

Crucially, over 10,000 jobs are expected to be created under these industrial projects. There will be the possibility of annual production of goods in demand in the amount of about $ 1 billion and export of goods for more than $ 290 million a year.
The projects provide for the production of goods with higher added value and localization level, including a wide range of household appliances, elevators and excavators, pumps, water heaters, paper and building materials, food products, household chemicals, jewelry and glasses.

Investors and initiators presented their projects. The enterprises are due to be established during 2019-2020 in unused buildings and areas.

The President noted that such schemes are important for the production of goods in high demand and provision of the population with work. Shavkat Mirziyoyev gave directives for the soonest launch of the presented projects, effectively using the existing infrastructure of the city. Responsible officials were instructed to develop additional project proposals for a total amount of at least $ 1 billion, providing for the organization of the production of industrial goods.

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