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.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more
IndiGo cancels Central Asian flights until late February over Iran tensions
Indian budget carrier IndiGo has cancelled all flights to and from Tbilisi, Almaty, Baku and Tashkent until February 28 due to the developing situation around Iran, the airline announced on February ... more