President Shavkat Mirziyoyev held a meeting on localization, development of public-private partnership, attraction of foreign investments on October 22.

A lot of work is being done in these areas driving the economy. More than 78 billion dollars of foreign investments have flowed into our country over the past seven years. A law on public-private partnership has been adopted, over a thousand projects have been launched. Production of 1,800 types of new products has been established.

However, the potential is still huge. At the meeting each of these areas was analyzed and additional opportunities were pointed out.

Currently, 366 large projects worth 140 billion dollars are being implemented in all sectors. Within the framework of investment projects, equipment, raw materials and construction materials worth 15 billion dollars are imported annually. It was noted that it is possible to increase the share of local products in each project.

There are such opportunities in major industries of our country as well. For example, in accordance with the program for the development of the energy industry until 2030, 164 energy facilities worth $36 billion will be built. Of these, 88 will be based on public-private partnerships.

The mining industry has also adopted a program for 1 billion 230 million dollars. Local businesses have been tied to the industry’s major mills for mutual benefit.

There are also many untapped opportunities in the automobile industry. In neighboring countries, the annual demand for automobile parts is $1 billion.

It was noted that localization should focus on producing products that are competitive both in price and quality, as well as increasing exports.

The necessity of forming specific projects in these directions and turning opportunities into results was emphasized. Proposals were made to develop cooperation between industries and regions, to increase the share of domestic products and services in public procurement.

Recently, $30 billion worth of investment projects based on public-private partnerships were approved. In particular, programs for 10 billion dollars in the transport sector, 6 billion dollars in the social sector and 5 billion dollars in the communal sector are envisaged.

The tasks on attraction of investors to these projects and effective allocation of funds were noted.

The meeting also considered the dynamics of foreign investments and further plans.

For nine months of the current year 23 billion 660 million dollars of foreign investments were received. Also, 120 large production facilities worth 4 billion 600 million dollars were launched.

This pace will be maintained until the end of the year. Thus, it is expected that the total amount of attracted foreign investments in 2017-2024 will exceed 100 billion dollars.

At the meeting, the responsible persons provided information on plans to fulfill the set tasks.

Source: President.uz