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A new mechanism for promoting investment projects is being introduced in the Khorezm region

On January 7 of this year, in Khiva, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov held a meeting with the heads and employees of regional and city divisions of the Ministry of Investment and Foreign Trade in the Khorezm region.

The meeting discussed the practical aspects of introducing a new system for stimulating investment, industrial development and increasing export potential in districts and cities of the region.

New methods were considered for studying the economic potential on the ground, developing promising high-margin projects, project management, working with entrepreneurs and monitoring the functioning of the production facilities being commissioned.

It was noted that in accordance with the new system, each project implemented in the region provides for the assignment of a responsible employee – a “project manager”, whose task will be to assist project initiators in the preparation of a business plan and project documentation, obtaining land plots and financing, resolving issues with connection to utilities, support of project implementation and solution of emerging issues. Evaluation of the effectiveness of the “project managers” will be carried out on the basis of the developed system of criteria.

Special attention was paid to the need to intensify work on the study of the current socio-economic state of the regions and cities of the region and the development of proposals to improve the quality of life of the population and increase its employment by using the existing “points of growth”.

The participants of the meeting exchanged experience of practical work on the ground and shared problematic issues that take place in practice. Each case presented was worked out with the participation of heads of ministries, departments, commercial banks and local authorities, thanks to which operational measures were developed to solve the identified problems.

Also, employees of the regional and city departments of the Ministry in the Khorezm region received targeted guidelines and instructions for the effective implementation of the skills acquired in the course of working with local entrepreneurs.