Investment atmosphere of Khorezm region and the Republic of Karakalpakstan

Under the chairmanship of Sardor Umurzakov, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan, a video conference was held to scrutinize the current state of investment activity in the Republic of Karakalpakstan and Khorezm region and utmost issues in the field.

The conference was attended by representatives of ministries, departments, industry associations, commercial banks, local authorities of the Republic of Karakalpakstan, regions and the city of Tashkent, diplomatic missions of Uzbekistan abroad and entrepreneurs from the two regions.

The results of the work done by the responsible leaders to stimulate the development of industry, attract investment, increase exports and socio-economic development of districts and cities in these regions were reviewed. As a result of the measures taken, 256 new investment projects worth 3.2 trillion UZS have been developed in the Republic of Karakalpakstan, as a result of which 18.6 thousand new jobs have been created. This is largely due to the mechanism of integration of regional administrations into districts and cities of the Republic of Karakalpakstan in order to cooperate with local entrepreneurs and provide them with practical assistance in implementing new business initiatives. It was instructed to apply the experience gained in the implementation of this mechanism in Khorezm region.

In the same way, the activities of the country's diplomatic missions abroad, attached to the districts and cities of the Republic of Karakalpakstan and Khorezm region, were investigated. Through the efforts of diplomats in these regions with the participation of foreign investors, in 2021 83 investment projects worth $766.2 million US have been launched. In order to attract foreign investors and provide practical assistance in establishing cooperation with local entrepreneurs, the representatives of diplomatic missions were instructed to intensify their efforts in this direction in order to develop new proposals for the implementation of investment projects in these regions.