Karakalpakstan plans to implement 934 projects worth $582.9 million

A working group, chaired by Minister of Investment, Industry and Trade Laziz Kudratov and leaders of industry associations, commercial banks and local governments, began work January 5 to develop further measures aimed at increasing Karakalpakstan's export, investment and industrial potential.

A number of large industrial enterprises in Muynak, Kungrat, Kanlikul, Shumanay and Khojayli districts were visited, meetings were held with project initiators and issues of concern to entrepreneurs and prospects for further development of production capacities were discussed. In the course of the study, special attention was paid to analysis of opportunities for implementation of new investment projects in priority spheres.

Efforts in various regions have identified a number of enterprises with the potential to expand and increase production capacity. Specific locations for new investment projects have also been identified. This, in turn, will increase the volume of industrial production in the Republic of Karakalpakstan by another 1 trillion soums by the end of 2023.

At a video conference held on this day it was discussed new approaches to increasing efficiency of work on expansion of industrial production, implementation of investment projects and export stimulation.

The meeting summarized the results of 2022 in terms of industrial growth, export performance and investment activities. In 2023 it is planned to reach 20.5 trillion soums of industrial production, exports up to 122.8 million dollars, as well as to implement 934 projects worth 582.9 million dollars with the creation of 16,618 new jobs.

As a result of the meeting, instructions have been given for effective implementation of the set tasks and development of detailed network schedules of industrial production, localization, as well as the introduction of new facilities in the context of regions and industries.