Tashkent, Uzbekistan (UzDaily.com) -- On 20 June, under the leadership of the Deputy Prime Minister of the Republic of Uzbekistan Sardor Umurzakov, a video conference was held to discuss current areas of work to enhance investment and foreign trade, support entrepreneurship, and the integrated socio-economic development of individual regions, districts and cities of the Republic, as well as poverty reduction and employment.

The meeting was attended by the leadership of the Ministry of Investment and Foreign Trade, the Ministry of Foreign Affairs, the General Prosecutor’s Office, the Ministry of Finance, the Ministry of Economic Development and Poverty Reduction, the Ministry of Transport, the State Tax Committee, the State Customs Committee, industry departments, industrial associations, relevant government agencies, and commercial banks, local authorities of the regions, the Republic of Karakalpakstan and the city of Tashkent, as well as the head of diplomatic missions of the Republic of Uzbekistan abroad.

In the context of industries and regions, the implementation progress of the forecast parameters of foreign trade in the first half of 2020 was considered. In this context, the effectiveness of measures taken by embassies and consulates of the Republic of Uzbekistan in 40 countries to promote domestic products in export markets is analyzed. In order to increase the effectiveness of joint work with manufacturers, export schedules have been developed, monitoring of which allows you to quickly identify problems that impede their timely implementation.

The results of activities to provide practical assistance to entrepreneurs and exporters of the Republic of Karakalpakstan and Khorezm region, in particular, the measures taken to allocate credit resources to replenish working capital and accelerate the return of previously paid VAT amounts, were examined in a separate order. In this context, the progress of the execution of instructions given during the visit of the President of the Republic of Uzbekistan to Khorezm region in March 2020, as well as during the work of the Republican Commission for the Development of the Export Potential of Regions and Industries in Khorezm Region and the Republic of Karakalpakstan, was also studied.

Based on the results of the analysis, it was determined that out of 171 problematic issues identified during the Commission’s visit to the region, 167 were resolved, while ensuring a planned, and in some cases ahead of schedule, implementation of relevant investment projects. Additionally, issues were considered, on which joint work of the relevant ministries and departments is currently underway - non-standard solutions have been worked out, instructions have been given to ensure prompt resolution of the remaining issues.

The course of the practical implementation of the investment proposals developed by the Center for the Development of Investment Projects under the Ministry of Investments and Foreign Trade is considered - 30 promising new projects worth US$495 million, of which US$468 million is planned to be financed by attracting foreign direct investment. According to these projects, currently, the efforts of diplomatic missions of the Republic of Uzbekistan abroad, assigned to the districts and cities of Khorezm region through videoconferencing, are actively negotiating with foreign companies in order to achieve specific agreements.

They also discussed the steps taken to intensify investment activity in Bukhara region by studying the potential of industries and agriculture. The leaders of industry associations were instructed to conduct a more thorough analysis of the resources and opportunities available in districts and cities for the implementation of high-tech production of high value-added products.

The analysis of the results of the restoration of entrepreneurial activity, the provision of support to local farmers and producers, as well as the implementation of new investment projects in Alat, Jandar and Karakul districts was carried out. In total, 170 investment projects worth more than 720 billion soums will be implemented in these areas by the end of the first quarter of 2021 - the responsible heads of the relevant ministries, departments, commercial banks and local authorities were instructed to provide comprehensive support and monitoring of the implementation of these projects.

In addition, targeted instructions were given to intensify work on the formation of export clusters based on large local manufacturers aimed at specific foreign markets, as well as to establish the “Factory of Projects” involving representatives of gifted youth and compatriots living and conducting business abroad, aimed at development of new promising investment proposals.

The results of work to ensure employment, development of entrepreneurship and poverty reduction in the Namangan region are considered. For these purposes, for the period 2020-2022. It is planned to implement 1900 investment projects for a total amount of 14 trillion soums during 2020-2022, which will create 48 thousand new jobs. At the same time, only this year it is planned to put into operation 1589 projects with a total cost of 6.9 trillion soums with the creation of 31 thousand new jobs.

Currently, the specially created Working Group continues to work on the formation of new projects in this region, taking into account changes in market conditions and a detailed study of resources and opportunities with the identification of key “drivers” of growth, which can give high economic returns even with relatively small investment volumes.

For example, given the development of the textile industry in Namangan region, it was entrusted to develop a proposal for the creation in one of the regions of the region of a free trade and industrial zone specializing in the textile sector, while covering production and packaging of finished products, as well as services for customs clearance and transportation of goods. Similarly, in Pap district, it was entrusted to consider the possibility of creating a livestock cluster, which also includes facilities for processing wool and manufacturing finished products.

Special attention was paid to the execution of instructions of the President of the Republic of Uzbekistan given during a visit to Andijan and Ferghana regions in May and June of this year. In 2020, in Andijan region, 774 projects are planned for a total amount of 7.1 trillion soums, which will create 42 thousand new jobs. In Ferghana region, 737 projects will be implemented for a total of 7 trillion soums and the creation of 20 thousand new jobs. The analysis revealed problematic issues of a private and systemic nature that impede the fulfillment of the tasks set, and directly during the meeting, through a “brainstorming” measures were developed to solve them.

In addition, the heads of ministries, departments, commercial banks and local authorities were instructed to supplement the regional development program of Andijan region with an increase in the volume of attracted investments by 30% due to the development of additional investment projects with implementation in 2021 and with the identification of specific initiators and sources of funding.

The need to prioritize the issue of providing employment to the local population was noted, in connection with which residents in need of employment will be allocated as a matter of priority to ongoing projects with hiring as the facility is put into operation.

Also, during the videoconference, the responsible leaders were given a number of targeted instructions: preparing a draft government decision on the implementation of the project on solid waste management in Andijan region using the resources of the Asian Development Bank, implementing measures to reduce the cost of textile products by 10% and developing the Road Map to localize the processing of yarn and the production of sewing and knitting products, as well as raising additional funds for the implementation of the program “Every Family is an Entrepreneur”.

Following the meeting, the responsible leaders of the relevant state structures and local authorities were given personal responsibility for the timely and high-quality implementation of tasks and assignments. Control over the execution of instructions will be carried out by the General Prosecutor’s Office of the Republic of Uzbekistan.