Tashkent, Uzbekistan (UzDaily.com) -- By the decree of President Shavkat Mirziyoyev, the Investment Program of Uzbekistan for 2022-2026, developed by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan, was adopted.

The investment program envisages the introduction of new approaches and mechanisms for managing investment projects.

The investment program of Uzbekistan for 2022-2026 stipulates the development of foreign investments in the amount of US70 billion over the next five years.

By 1 February, the Agency for International Cooperation and Development will receive concepts for new investment projects for which it is planned to attract public external debt.

Further, by 1 March, the concepts of investment projects will be submitted for approval to the relevant foreign partners.

At the suggestion of the Ministry of Investment and Foreign Trade and the Agency for Strategic Development, it is planned to introduce a project management system for strategic investment projects. It provides for the creation of a central project management office within the ministry, coordinating work on strategic investment projects.

To increase investment activity in the regions, district (city) and regional project groups, as well as holding companies, are being created. Ministry of Investment and Foreign Trade will also improve the activities of the Direct Investment Fund. The fund will acquire the right to own up to 49% of the share of the authorized capital of the "holding companies".

The Agency’s specialists, together with the initiators of the projects, must, by 1 March, fully enter information and data on ongoing and new investment projects into the automated information system "Control and monitoring of the implementation of investment projects."

In addition, a Department for monitoring the implementation of legislation in the areas of foreign trade, investment and entrepreneurship will be created under the Prosecutor General’s Office, by optimizing the staffing positions in the Ministry of Investment and Foreign Trade.