Uzbekistan is carrying out large-scale efforts to fundamentally improve the investment and business environment, gradually eliminating obstacles in this direction.

At a meeting held on February 6 to discuss plans for the chemical industry in 2025, it was noted that significant changes have taken place in this sector in recent years, creating extensive opportunities for investing in new technological chains. However, despite these advancements, the operations of major chemical enterprises still do not fully meet modern requirements.

The Ministries of Investments, Industry and Trade, Construction and Housing and Communal Services, Mining and Geology, Transport, and Energy are implementing various measures to attract investments. In 2024 alone, foreign investments worth $34.8 billion were utilized, marking a 1.6-fold increase. By the end of the year, more than $100 million in foreign investments had been absorbed across 50 cities and districts.

In 2025, $42.1 billion in foreign investments is expected to be attracted, including $36.8 billion in direct investments. In January alone, the volume of foreign investments reached $3 billion. Additionally, this year, 301 large and 8,000 medium and small projects worth $35.4 billion will be launched, creating over 294,000 new jobs.

These issues were discussed at an extended meeting of the committees on entrepreneurship, competition development, and industry, as well as on budget and economic issues of the Legislative Chamber of the Oliy Majlis. The meeting reviewed reports from the Ministries of Investments, Industry and Trade, Construction and Housing and Communal Services, Mining and Geology, Transport, and Energy regarding investment attraction and export growth.

Specific measures have been implemented to enhance the country’s export potential. In 2024, exports amounted to $19.3 billion, a 16% increase. More than 3,000 new enterprises entered export activities, bringing the total number of exporters to 7,000. Most importantly, 58 new types of products were exported to 55 countries.

Information was also presented on investments in the mining industry and geology sector in 2024, and projects planned for 2025. It was emphasized that, in line with last year’s investment program, the ministry and sectoral enterprises implemented 60 projects, utilizing $3.582 billion in investments, including $3.203 billion in direct foreign investments and loans.

According to this year’s investment program, the ministry and sectoral enterprises plan to utilize $2.643 billion in investments across 56 projects.

During the discussions, deputies positively assessed the work being carried out in this sector. They put forward several proposals and recommendations to create a favorable investment environment, increase investment inflows, and provide comprehensive support to exporting enterprises.

Mukhtarama Komilova, UzA