On November 27, President Shavkat Mirziyoyev chaired a meeting to discuss the current state of attracting foreign investment and plans for the following year.

Over the past 10 months, Uzbekistan has attracted more than $26 billion in foreign investment, 1.7 times more than last year. Of this amount, about $24 billion are direct investments.

These funds made it possible to launch 6.3 thousand new enterprises, create added value for 30 trillion UZS, and increase exports by $305 million. It is essential that 163 thousand high-paying jobs were created thanks to investments.

Another $8.6 billion in investment is expected to be attracted by the end of the year.

At the meeting, which was held in a critical spirit, the results of attracting investment and implementing projects were comprehensively analyzed by regions and industries.

Thus, investment indicators remain low in eight districts and cities, and in some sectors, there is a decrease compared to last year. The implementation of several projects carried out jointly with international financial institutions is progressing slowly. In particular, the development of project documentation and tenders for 17 projects is being delayed.

The responsible persons presented information on the projected results by the end of the year and plans for 2025.

The President noted that increasing the investment activity of the regions and radically changing approaches to working in this area are necessary. For example, the European Bank for Reconstruction and Development, taking into account the positive changes in the country’s business environment and the pace of economic growth, expressed its readiness to finance projects with the participation of the private sector.

It was emphasized that the regions should effectively use such opportunities and independently attract financial resources. It is also necessary to increase the volumes and improve the quality of investments. That is, every dollar attracted should serve the development of industry, the creation of new jobs, and the growth of export potential.

At the meeting, it was ordered to once again review the volumes and directions of attracting funds from international financial institutions and foreign government financial organizations. The task was set to identify specific projects for 2025, including those based on public-private partnerships and with the participation of private investment, in the context of industries and regions.

UzA