1512/18

PRESIDENT BECAME ACQUAINTED WITH ECONOMIC PROJECTS

Presentation of economic projects on development of Khorezm region was held on the territory of Katqal’a teks joint venture in Shavat district.
 
Systematic work is being implemented in Uzbekistan on widely promoting a favorable investment climate among foreign investors. The State Investment Committee was organized, guarantees of the rights of investors are strengthened, presentations about the attractiveness of Uzbekistan for investments are held abroad. The international forum dedicated to the investment potential of Jizzakh region, which was recently held in Tashkent, the first investment forum in tourism industry has become an important factor in the search for foreign partners and development of long-term plans with them.
 
State policy in the investment sphere, guarantees created for foreign investors, the potential of industries and regions are covered in the investment portal of Uzbekistan www.invest.gov.uz.
 
The President was provided with information about this portal.
 
Shavkat Mirziyoyev noted the need for broader informing the investors about investment projects, resources available for their implementation, production facilities, prices, transportation and logistics conditions, enhancing their interest in the country.
 
Vice-President of the Malaysian company Serba Dinamik Group Palendran Palachandran presented to the President of Uzbekistan an investment project on construction of a caustic soda plant in the territory of Hazorasp free economic zone. The project worth $250 million will be fully implemented through the company’s investments. The enterprise will be able to produce 33 thousand tons of caustic soda and 30 thousand tons of chlorine for a total amount of $35 million per year.
 
It is expected that products of the plant, where 150 jobs will be created, will be entirely export-oriented.
 
The Head of the state told the Malaysian investor about the conditions created in the country, the benefits of investing. The investor expressed his company’s readiness and interest in cooperation.
 
The embassies of Uzbekistan in Malaysia, Saudi Arabia and Turkmenistan are working to attract foreign investment in the region. In particular, the Embassy in Malaysia is promoting projects on establishing confectionery production, a center for medical and cosmetology services, export of finished textile and agricultural products, the Embassy in Saudi Arabia – on restoring Olloqulikhon and Kutlugh Murod Inoq madrasahs, construction of hotels in Khiva, attracting to Khorezm the concessional loan of the Islamic Development Bank in the amount of $100 million within the framework of the “Obod qishloq” (Prosperous village) program, and the Embassy in Turkmenistan – on expanding the tourist flow in oasis.
 
During the presentations, the President drew attention to the significance of the projects. He gave responsible persons the necessary recommendations on expanding attraction of foreign investment.
 
The Head of the state became familiar with projects on organization in the region the production of solar panels, expansion of production capacity of Damas and Labo cars in Khorezm regional branch of GM Uzbekistan, construction of a modern greenhouse in the city of Pitnak by Uzavtosanoat JSC, supporting small business entities in 2019, organization of innovative technopark, gave instructions and recommendations on their implementation, increasing employment and expanding exports.