Projects involving international and foreign financial organizations funds will be implemented on a completely new system

At the meeting on the issues of implementation of projects involving foreign investment, Shavkat Mirziyoyev gave instructions to the Prime Minister and his deputies on approving new industry schedules for mastering the main part of funds of international and foreign financial organizations in August-October and full implementation of the forecast indicators by the end of the year.

It is necessary to eliminate such problems as the excessive complexity of procedures related to implementation of investment projects, their bureaucratization, unsettled activities of responsible departments, improve the efficiency of investment projects and ensure their timely development. To this end, a resolution of the President on attracting funds from international and foreign financial organizations, preparing and reviewing project documentation was recently adopted. From now on, projects involving international and foreign financial institutions will be implemented on a completely new system. Thus, the procedure for developing a strategy for cooperation with international financial institutions has been introduced, it takes not 60 but 14 days for examination, the tender documentation and contracts concluded following the tenders will not be examined, requirements on quorum and the number of applicants are canceled.

The Head of the state noted the importance of effective organization of activities of responsible groups on qualitative implementation of investment projects with participation of international financial institutions. Activities of groups are organized inefficiently, in the system of some ministries and departments there are several project groups. These groups do not interact with donor organizations, most of the staff are with low qualifications. As a consequence, many investment projects are not started for years and become a problem.

In this regard, in accordance with the resolution of the President of June 21 this year, the State Committee for Investments is fully charged with coordinating activities and monitoring projects with participation of international and foreign financial organizations. At the meeting, the chairman of the committee was instructed to revise the composition of all groups and to reorganize them not in terms of projects but on a sectoral basis, improve qualifications of managers and specialists of project groups, organize special training courses, conduct accelerated examination and registration of feasibility studies, tender documentation and import contracts within the framework of all projects involving international and foreign financial organizations in a new order.

UzA