Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev held a meeting on 23 December to discuss the effectiveness of the work being done and the main tasks for 2021 in the field of investment and foreign trade.

The coronavirus pandemic has negatively impacted the global economy. Export and investment processes faced certain difficulties.

The measures taken in a timely manner to improve the investment climate in the country have yielded results. This year, foreign direct investments worth US$6.6 billion were used. It is also expected to export US$15 billion by the end of the year.

At the meeting, the head of state noted that 2021 will also be difficult for the economy, in connection with which it is necessary to take concrete, targeted measures to attract and develop investments, ensure export forecast indicators, and increase the production of import-substituting products.

It is planned to attract more than US$7.5 billion in foreign direct investment next year. The meeting identified measures for the full and timely use of these funds in each project. It was instructed to take measures for the timely implementation of 226 large projects through these investments.

The task was set to qualitatively execute 69 new promising industrial projects, thereby creating additional reserves for economic growth.

At the same time, special attention as the main driver spheres will be paid to the chemical industry, energy, geology, electrical engineering and light industry.

The importance of introducing a new system for the implementation of projects financed by loans from international financial institutions from 1 January 2021, conducting appropriate training for managers and employees of "project offices" for effective development and ensuring the effectiveness of funds for each project was pointed out.

Exports are forecast to be around US$17 billion next year. In this regard, the responsible persons were instructed to conclude export contracts in advance, and from January 1 to establish a system of pre-export financing at the expense of the Export Support Fund.

At the meeting, the Minister of Investments and Foreign Trade and his deputies provided information on what measures will be taken to fulfill the tasks.