Uzbekistan to use investments for US$7.83 billion in 2019

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to use investments for about US$7.83 billion within the framework of industry investment projects in 2019.

President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures to implement the Investment Program of the Republic of Uzbekistan for 2019”.

According to the document, in 2019, enterprises will send US$1.5 billion to implement investment projects. The Fund for Reconstruction and Development of Uzbekistan (FRDU) will allocate US$927.9 million in 2019.

Uzbekistan intends to use US$2.31 billion of foreign direct investment and loans in 2019 and US$2.68 billion of foreign loans under a state guarantee. The volume of commercial bank loans will exceed US$401.5 million.

In 2019, US$4.15 billion of funds will be spent on construction of new facilities, US$1.45 billion - on modernization and reconstruction, as well as US$2.21 billion to other direction.

In the oil and gas industry, investments for US$1.93 billion will be used in 2019, in the energy sector - US$715.2 million, Navoi MMC - US$526.1 million, Almalyk MMC - US$184.6 million, in the chemical industry - US$457.1 million, Uzmetkombinat - US$117 million.

The total cost of projects under the program is US$56.02 billion. The expected balance as of 1 January 2019 will be US$35.66 billion.