Topical tasks for 2022 in the field of investment and foreign trade were discussed

    Investments 6 January 2022 1213

    On January 5 of this year, under the leadership of Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov, was held a meeting in a hybrid format to discuss the results of investment and foreign trade activities in 2021 and measures to further stimulate investment and increase exports in 2022, as well as other urgent tasks.

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

    Operational data on the results of investment activities achieved in 2021 were announced. Thus, the total volume of disbursed investments amounted to 254 trillion soums 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. In total, more than 275 thousand new jobs were created due to the implementation of these projects. Instructions were given to improve the mechanisms of work to stimulate investment attraction and provide practical support to the initiators of investment projects, as well as to establish a system of constant project monitoring of their implementation with the consolidation of responsible managers and employees.

    The results of the work carried out to "improve" not fully loaded production facilities were reviewed. Following the results of the past year, the activities of 2040 similar enterprises were studied and concrete measures were taken to provide financial support to entrepreneurs and solve existing problems. As a result, 1,908 enterprises (94 percent) established production with full capacity utilization, which allowed the domestic industry to additionally produce products worth 4.1 trillion soums, carry out additional export deliveries worth $ 184 million and restore about 25 thousand jobs. 152 units of unused technological equipment were also put into operation, which in turn allowed creating 1,257 new jobs. It was instructed to establish a mechanism for monitoring the activities of commissioned production facilities in order to promptly respond to emerging issues and provide practical support in their solution.

    Reports on the measures taken to introduce a new system for stimulating investment activity and supporting the implementation of projects were heard. It was instructed to accelerate the formation of regional project groups and establish their close cooperation with the assistants of the mayors of districts and cities on the development of entrepreneurship, employment and poverty reduction, operating in each neighborhood.

    The tasks of increasing the export potential and increasing the volume of exported products in 2022 are considered. It was instructed to form an address schedule of shipments indicating specific exporting enterprises, customers and volumes of products in order to promptly resolve issues faced by domestic exporters.

    In a separate order, 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 considered.

    The press service of Ministry of investment and foreign trade of the republic of Uzbekistan reports, that the following results of the meeting, additional targeted instructions were given the distribution of specific tasks and deadlines among responsible managers.