Uzbekistan to host International Investment Forum

At the meeting devoted to issues of attracting foreign direct investment in the economy of Uzbekistan, the Head of the state noted that at the end of August it is planned to hold an International Investment Forum and National Exhibition of Commodity Producers in Jizzakh region, in connection with which it is necessary to take all measures for carrying out these events at a high level. The leadership of all ministries, khokimiyats and economic associations should prepare and present at the forum special presentations on industries, areas and regions for which they are responsible, embassies and representative offices of Uzbekistan abroad should find at least 4-5 potential investors for participating in these events.


At the meeting, attention was paid to the results of foreign official visits of heads of khokimiyats.


It was noted that in accordance with instructions given earlier, the working group conducted a study of this work and identified a number of systemic problems in Fergana, Andijan, Namangan, Khorezm regions and in the Republic of Karakalpakstan. The fact was criticized that in presence of wide opportunities in these regions in pharmaceuticals, electrical engineering and mechanical engineering, negotiations on cooperation were limited to projects mainly for production of building materials and textiles, processing of fruit and vegetable products. There are no high-tech projects at all.


It was noted that majority of delegations did not have a target program, foreign partners were not provided with specific information about economic potential of regions, some agreements remained on paper. For example, the delegation of Namangan region, which visited Belgium in March 2018, signed an agreement on project of organizing a livestock complex in Narin district for 200 heads of cattle worth 3 million dollars. However, after 5 months, practical work on implementation of the agreement has not yet begun.


Investment requires an enabling environment. Activity on further improvement of investment climate is rapidly continuing in Uzbekistan. However, there is no investment strategy in some ministries, agencies and khokimiyats aimed at present day, close and distant prospects, which indicates lack of initiative.


It was noted that the State Committee for Investments and the Ministry of Foreign Affairs need to implement the procedure for conducting presentations on goals of visits, proposed projects and expected practical results before official trips of local delegations abroad. They were instructed to develop and ensure strict control over the execution of roadmaps and sectoral schedules under agreements reached during official trips, as well as prepare Investment strategy project, providing for potential industries and directions.