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Discussed the progress of investment activities in the Republic of Karakalpakstan and Khorezm region

In the format of a video conference, under the leadership of Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov, a meeting was held on the study of the current state and urgent tasks in the field of investment activities in the Republic of Karakalpakstan and the Khorezm region. The meeting was attended by the heads of ministries, departments, industry associations, commercial banks, local authorities of the Republic of Karakalpakstan, regions and the city of Tashkent, representatives of diplomatic missions of Uzbekistan abroad, as well as entrepreneurs from the two regions under consideration.

The results of the work carried out by responsible leaders to stimulate the development of industry, attract investment, increase exports and socio-economic development of districts and cities in these regions were considered. It was announced that thanks to the measures taken earlier, 256 new investment projects worth 3.2 trillion soums were developed in the Republic of Karakalpakstan, which creates 18.6 thousand new jobs. This was largely achieved thanks to the applied mechanism of securing the heads of local authorities of the country’s regions to districts and cities of the Republic of Karakalpakstan to interact with local entrepreneurs and provide them with practical support in the implementation of new business initiatives. It was instructed to extend the experience gained with this mechanism to the Khorezm region.

During the meeting, entrepreneurs from Karakalpakstan spoke about their experience in implementing projects and the problems they faced in the course of their activities. On all the issues raised, a comprehensive analysis was carried out and mechanisms for solving existing problems were developed with the involvement of the relevant ministries and departments.

The activities of the country’s diplomatic missions abroad, which were also assigned to the regions and cities of the Republic of Karakalpakstan and the Khorezm region, were studied in a similar format. Through the efforts of diplomats in these regions in 2021, the implementation of 83 investment projects worth $ 766.2 million was launched, with the participation of foreign investors. It was instructed to intensify the work of representatives of diplomatic missions in this direction to develop new proposals for the implementation of investment projects in these two regions, to attract foreign investors and provide practical support in establishing partnerships with local entrepreneurs.

Issues related to the implementation of state and regional investment programs in the Republic of Karakalpakstan and Khorezm region in 2022 were discussed separately. It was announced that this year in the Republic of Karakalpakstan, within the framework of the regional investment program, it is planned to implement 731 projects worth 2.7 trillion soums, which will create 13.6 thousand new jobs, and in the Khorezm region – 695 projects worth 4.6 trillion soums, due to which 14.8 thousand new jobs will be created. The heads of ministries, departments, commercial banks and local authorities were given specific instructions to effectively monitor the implementation of each project and develop mechanisms for interdepartmental interaction to promptly identify and resolve problems,

As a result of the meeting, additional instructions were given for the high-quality and timely implementation of the assigned tasks.