Tashkent, Uzbekistan (UzDaily.com) -- On 29 June 2021, at an expanded meeting of the Senate Committee on International Relations, Foreign Economic Relations, Foreign Investment and Tourism, information was heard from the Ministry of Investment and Foreign Trade (MIFT) on execution in the trade, economic and investment part "Road maps" signed as a result of high-level visits to the Federal Republic of Germany and France.

The meeting was attended by heads of interested ministries and departments, state companies, public associations, heads of diplomatic missions of Uzbekistan in Germany and France, representatives of local government bodies.

It was noted that, together with France, it was planned to implement 34 projects totaling US$3.933 billion. At the same time, on the basis of the roadmap with Germany, 58 investment projects and trade agreements worth about US$4.8 billion were scheduled for implementation. The attraction of these investments allowed the start of a large-scale modernization of the country’s energy sector, which envisages both the construction of new generating capacities and and modernization of existing ones with the introduction of modern technologies in the fuel and energy industry, the development of transport, logistics and communal infrastructure of the regions, as well as the commissioning of new industrial enterprises.

During the hearings, the progress in the implementation of the roadmaps was critically analyzed, and the activities of the departments responsible for the implementation of investment projects and export contracts were assessed.

Based on the results of the study of projects by senators and deputies of kengashes on the ground, meetings with investors, organizations and departments responsible for the implementation of investment projects and export agreements, facts of non-fulfillment and serious delays in the execution of investment projects were revealed.

In particular, the analysis showed that in the road map with France, for various reasons, 13 projects totaling US$1.3 billion are not implemented or are late in time, the Ministry of Tourism and Sports, National Bank of Uzbekistan are responsible for their implementation. , Fund for Reconstruction and Development, JSCB "Uzpromstroybank", JSC "Uztrade", Ministry of Housing and Communal Services, Ministry of Agriculture, JSC "Uzpromstroymaterialy".

According to the roadmap with Germany, 24 projects totaling more than US$1.4 billion are significantly delayed or not implemented at all. the initiators of which are the Ministry of Health, JSCB "Agrobank", the Khokimiyat of the Tashkent region and the city of Tashkent, JSCB "Turonbank", the State Committee for Roads, JSC "Uzbekiston Temir Yulari".

Along with the specific problems of each project, systemic barriers remain that prevent the timely and full implementation of the roadmaps.

In particular, the study showed a persisting high level of bureaucracy, which is expressed, among other things, in the inadequate provision of the phased and timely development of project documentation, leading to a delay in the opening of financing, disbursement of funds and, as a consequence, the timely commissioning of production facilities.

Also noted was the insufficient level of control on the part of the deputies of local Kengashes of people’s deputies, the irregularity of reports of the respective deputy khokims on investment issues.

As a result of the meeting, an appropriate decision was made by the Senate Committee, containing specific measures to eliminate existing problems and shortcomings.