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Investments, industrial zones, benefits: the President gave instructions on the development of industry

President Shavkat Mirziyoyev held a video conference on industry development in the republic’s regions.

During the meeting, representatives of responsible departments discussed with the head of state the work results over the past year.

In particular, in 2022, 19 new free economic zones and more than 400 small industrial zones were opened in the republic. The Republic has invested $3 billion in turning such industries as textiles, chemical production, construction materials, leather goods, pharmaceuticals, and electrical engineering into “drivers” of industry.

As a result, over the past five years, industrial enterprises have doubled to 100 thousand, and the production volume has increased 1.4 times. The industry was actively developing in the regions of the country.

The Head of State instructed to use the potential of the regions in “profile” industries. In particular, it is possible to increase the volume of cotton processing in Karakalpakstan, Jizzakh, Kashkadarya, Surkhandarya, Ferghana and Khorezm regions. Namangan, Samarkand and Navoi have not yet sufficiently used the regions’ potential to produce food, leather goods and furniture.

In his message to the Oliy Majlis in December, the President set the task for the khokims to attract $50 million of investments to each district.

“This means that at least 5,000 additional jobs and 20 billion soums of tax revenue will appear in each district,” the head of state said.

The authorities seek new opportunities and additional financial resources for industrial growth. For example, 55 trillion soums will be allocated to commercial banks for lending to enterprises, and the khokims of the regions will be trained to effectively use available funds.

The President instructed to develop additional projects and their “road map” for each district to provide working capital for 807 projects already started and 271 enterprises operating with low capacity.

In addition, 1.7 trillion soums will be allocated for developing the infrastructure of industrial zones and large investment projects. The territories of the free economic zones (FEZ), “Gidzhuvon” and “Kokand”, will be expanded, and the FEZ “Urgut” will open branches in Karakalpakstan and Kashkadarya.

From 2023, 27 types of tax benefits, subsidies and preferences will be granted to 60 districts of the fourth and fifth categories, whose economic development lags behind.

Today the President signed a special resolution. According to him, in 2023, an additional $300 million will be allocated for projects in the textile industry. Customs privileges for more than 200 types of imported raw materials for the leather and shoe industry will also be extended for three years.


Source:  uz.sputniknews