Group of Ministry of Investment and Foreign Trade of Uzbekistan visit Jizzakh region

Tashkent, Uzbekistan (UzDaily.com) -- On 15 February, a working group of the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan visited Jizzakh region to study the current situation on the implementation of investment activities, organization and implementation of infrastructure projects to improve the living conditions of the local population and increase export potential private sector and households.

In the administration of Jizzakh region, an extended meeting was held with the deputies of the regional khokim and district khokims on investment and foreign trade, as well as heads of the territorial divisions of the Ministry.

The meeting participants were informed about the goals and objectives for the current year of the newly formed ministry, the expansion of its terms of reference and the responsibilities assigned to implement the investment and foreign trade economic policy of the republic.

Particular emphasis was placed on introducing a new approach to attracting investment: assessment of the resource base - analysis of infrastructure and potential - a profitable and feasible investment proposal. As for exports, special importance is attached to the consistent development of trade conditions, including e-commerce systems and their integration with international online sites.

Separately, tasks were considered to improve the activities of free economic zones. Currently, the Jizzakh free economic zone and the pharmaceutical zone of Zomin-farm free economic zone are operating in the Jiza region. In accordance with the Presidential Decree "On measures to further improve the system of coordination and management of free economic zones," a number of changes are expected in the system of coordination and management of the activities of the FEZ.

Priority will be given to investment projects that have proven their effectiveness and relevance. Thus, the condition for placing on the territory of the FEZ is to achieve a volume of exports of at least 25 percent of the manufactured products for the second fiscal year from the date of commencement of operations, and at least 50 percent in subsequent years. By April 1, 2019, it is planned to develop a draft Concept of Development of the FEZ.

The economic potential, the mineral resource base and the existing production facilities of the Jizzakh region today make it possible to successfully develop the electrical, chemical, textile and food industries, the mining of minerals and the production of building materials.

Lime, wollastonite, tungsten, lime and lead ore are mined in the region. About half of the cotton harvest is processed by local enterprises.