New system of stimulating investment and foreign trade in Karakalpakstan
On February 7, a working group headed by Deputy Prime Minister - Minister of Investment and Foreign Trade S. Umurzakov and heads of ministries, departments and commercial banks paid visit to Kaarakalpakstan to study the current state of socio-economic development and implementation of investment and infrastructure projects in the Republic of Karakalpakstan.
During the field trips, targeted meetings were held with entrepreneurs and investment project initiators to identify existing problems and develop effective algorithms for solving.
The next steps to strengthen investment and industrial activities in the region were canvassed. Officials are instructed to develop systemic measures to create optimal conditions for the formation of value chains based on the existing raw material potential and industrial potential.
In order to implement the new system of incentives for investment and foreign trade, to identify untapped economic opportunities and to develop new investment projects in promising sectors, it was instructed to take measures to effectively organize the activities of "project groups" and Business Councils in the regions.