About US$40bn to be invested into economy of Uzbekistan in next five years

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan will implement 657 investment projects with the cost of about US$40 billion in next five years, which will help to increase industrial output of Uzbekistan by 1.5 times.

Presidential candidate from UzLiDeP Shavkat Mirziyoyev determined as the main goal is to double gross domestic product by 2030 and increase share of industry in economy up to 40%.

Eight special programmes, directed at developing chemical industry, processing ferrous and rare metals, hydrocarbons, textile, leather-footwear, pharmaceutical industry, processing fruits and vegetables, as well as production of construction materials were developed and are realized now.

Development of programme on further developing textile industry, oriented at deepening processing of raw materials, was completed. It is planned to realize 140 investment projects for US$2.3 billion.

By 2021, in the result the volume of production of ready textile products will grow by 2.2 times, including yarn – 2.7 times, finished knitted fabric - 3 times, ready sewing and knitted products - 3.4 times, the toe production - by 3.7 times and export of the product by two times in comparison with the 2016. By 2021, it is planned to ensure processing of cotton yarn by local companies.