Ministry of Investments and Foreign Trade: summary of 2021 and utmost tasks for 2022

On January 5, 2022, under the leadership of Deputy Prime Minister - Minister of Investment and Foreign Trade S.Umurzakov, the following topics were addressed in the meeting which was both online and offline: the results of last year's investment, foreign trade activities, increasing export, measures to further attract investment this year.
The meeting was attended by heads of ministries and departments, industry associations, commercial banks and local authorities of the Republic of Karakalpakstan, regions and Tashkent city.
Data on the results achieved in the field of investment in 2021 was announced. In particular, the total volume of disbursed investments amounted to 254 trillion UZS, an increase of 109% compared to 2020, of which foreign direct investment amounted to $ 8.6 billion. During the reporting period, 318 large investment projects worth $ 5.9 billion were implemented under the state investment program, while 15,710 investment projects worth $ 7.4 billion were introduced under regional investment programs. More than 275 thousand vacancies have been launched in order to put the projects into practice.
Instructions were given to improve the mechanisms for encouraging investment and providing practical support to investment project initiators, as well as to establish a system for continuous monitoring of project implementation through the appointment of responsible managers and staff.
The results of the work on "rehabilitation" of idle and non-operating enterprises were considered. Last year, 2040 similar enterprises were surveyed and concrete measures were taken to provide financial support to entrepreneurs and solve existing problems. As a result, 1,908 enterprises (94%) resumed production at full capacity. This contributed 4.1 trillion UZS to the country's industry, additional $ 184 million US to export and the creation of about 25,000 jobs. 152 pieces of unused technological equipment were also put into operation, which in turn created 1,257 new jobs. It was instructed to create a mechanism for monitoring the activities of commissioned production facilities in order to respond promptly to emerging issues and provide practical assistance in resolving them.
Reports were heard on measures taken to encourage investment and introduce a new system of project support. It was instructed to accelerate the formation of regional project groups and to establish their close cooperation with district and city mayors' assistants working in each makhalla on entrepreneurship development, employment and poverty reduction.
In 2022, the tasks of increasing the export potential and increasing the volume of exported products were considered.
In particular, issues related to the implementation of projects financed by international financial institutions and foreign public financial institutions, the negotiations on Uzbekistan's accession to the World Trade Organization, measures to expand transport infrastructure and increase logistics capacity in the country and other topical issues were addressed.