Tashkent, Uzbekistan (UzDaily.com) - On 16 May, under the leadership of the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov, a video conference was held to discuss measures to ensure the stable operation of entrepreneurs and exporters through the implementation of non-standard mechanisms and algorithms for supporting business entities in the face of continuing restrictions and quarantine requirements, as well as other issues in the field of investment and foreign trade activities.

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 representations of the Republic of Uzbekistan abroad.

During the meeting, reports of senior executives on the implementation of the Investment Program for 2020-2022 and the development of foreign direct investment and loans in January - April of the current year, as well as the fulfillment of forecast indicators of exports from January to May of the current year were also heard. The importance of taking effective measures to unconditionally fulfill the target parameters of the Program, timely commissioning of production facilities with the aim of creating a reliable reserve for increasing exports of high value-added products, as well as ensuring employment of the population at the expense of created jobs was noted.

Particular emphasis was placed on promising mechanisms for increasing exports of fresh and fruit and vegetable products, as well as goods of the light and pharmaceutical industries - the constructive proposals of the heads of the relevant industry departments were examined, and clear tasks were set with reference to specific dates. At the same time, state foreign trade companies and heads of diplomatic missions abroad were given instructions to search for new markets for domestic products.

In the context of industries and regions, the issues of import substitution and localization of industrial production, as well as promising non-standard mechanisms for restoring the export of tourism services under the existing restrictions caused by the coronavirus pandemic, were studied.

Special attention was paid to the elimination of the negative consequences of natural phenomena in Alat, Karakul and Jandar districts of Bukhara region, compensation for losses and the resumption of activities of farms and industrial enterprises.

Measures were also identified for the speedy restoration of the economic potential of Akaltyn, Mirzabad and Sardoba districts of Syrdarya region affected by the breakthrough of the dam of the Sardoba reservoir - the heads of commercial banks, insurance and valuation companies were given specific tasks to provide targeted and operational support to business entities in the above areas.

It was instructed to accelerate the implementation of the formed package of new investment projects in the areas of livestock, poultry and fish farming, as well as textile, silk and leather processing industries, which will restore economic activity in these areas and solve the problem of local employment.

In addition, preliminary results of the work of the working group on the development of a program for socio-economic development and effective use of the existing resource potential of Nurata, Tomda and Uchkuduk districts of Navoi region, as well as Pakhtachi district and the city of Kattakurgan in Samarkand region were considered.

As a result of the videoconference, appropriate decisions were made aimed at strengthening interagency cooperation in working with domestic entrepreneurs and exporters, as well as targeted instructions were given to strengthen work in priority areas.