A working meeting takes place at the Ministry of Investment and Foreign Trade

Tashkent, Uzbekistan (UzDaily.com) - On 1 July, under the leadership of Minister of Investment and Foreign Trade Sardor Umurzakov, a working meeting was held on the unconditional execution of instructions from the President of the Republic of Uzbekistan and discussion of current tasks and issues related to the activities of the Ministry.

In accordance with the request, measures were worked out to enhance the attraction of investments in the geological exploration sector, form a package of new promising investment projects, possible mechanisms to optimize tax rates for geological exploration and mining in order to reduce production costs and increase the investment attractiveness of the industry, and ways to attract leading foreign companies to assist with accelerated modernization and technological renewal of this area.

One of the priority goals is the development and implementation of a principled new approach in the formation of sectoral investment and foreign trade strategies aimed at actively attracting foreign investment, optimizing imports and increasing export potential. It was noted that the sectoral strategy should be based on existing resources, take into account the specifics and existing problems in the sector and propose concrete solutions to their solution, which ultimately should lead to accelerated growth of economic indicators.

Special attention was paid to the need to revise and improve the system of formation of investment programs and forecast export indicators, prioritizing the objectivity and validity of the criteria, in-depth analysis of the activities of relevant departments and organizations to ensure the implementation of the stated parameters.