Uzbekistan’s president instructs to prepare package of new investment projects worth $30bn

By Muzaffar Ismailov in Tashkent July 12, 2023

Uzbekistan’s President Shavkat Mirziyoyev ordered the Ministry for Investment, Industry and Trade (MIIT) to form a package of investment projects totalling $30bn by the end of the year. The announcement was made on July 11 after the president criticised officials who failed to fulfil tasks on increasing the inflow of foreign investment.

The president announced the introduction of a new system for attracting and utilising investments. In order to accelerate work on major investment projects included in the state investment programme (with a total cost of $11.5bn), a responsible executor will be assigned to each of them. They will be chosen from among the ministers, deputy ministers and bank top managers.

Some 89 major projects implemented in the regions will be provided with infrastructure.

Investment projects of regional scale would be divided into three categories for the organisation of targeted work on each of them. Mirziyoyev instructed work on projects to be speeded up with the help of international organisations.

In addition, the government plans to raise $3bn for the implementation of new projects. Each new investor will be provided with an individual “investment manager” who reports directly to the minister. Managers will constantly keep in touch with entrepreneurs and help them solve problems.

#Uzbekistan #investment

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