In 2024, Uzbekistan plans to receive investments worth $5 billion from Russia, the correspondent of ‘‘Gazeta.uz’’ reports. On May 10, President Shavkat Mirziyoyev got acquainted with the progress in implementing the agreements and further plans for investment cooperation with foreign partners.
On April 22-24, the international industrial exhibition “Innoprom. Central Asia”, which “has become a striking example of successful trade and economic cooperation with the Russian Federation”. As part of the event, a package of agreements worth $4 billion was adopted.
At the end of 2023, trade turnover between the countries reached almost $10 billion. The President set the goal of doubling this volume by 2030.
There are over 3,000 joint ventures with the Russian Federation operating in Uzbekistan. In 2023, more than 700 new enterprises were created. Last year, about $3 billion of Russian investments were spent; this year, $5 billion is expected.
“Today the portfolio of joint projects [with Russia] exceeds $44 billion. At the same time, this year alone the task has been set to ensure the absorption of at least $5 billion of [Russian] investments. This task is absolutely doable. Specific plans, network diagrams, road maps have been prepared in all areas, in all sectors, regions”, – Laziz Kudratov, Minister of Investment, Industry and Trade, said in an interview with the Uzbekistan 24 TV channel.
According to the head of the MIIT, the president instructed “to ensure a non-standard approach, to introduce non-standard mechanisms” in order to timely and effectively implement these projects.
“All necessary units of not only ministries and departments, but also the government, the Cabinet of Ministers, and the Prosecutor General’s Office will be connected. And such an approach, a non-standard approach, targeted work with every Russian investor, with every partner will definitely produce results”, – he said.
On May 2-3, the Tashkent International Investment Forum was held with the participation of more than 2.5 thousand guests from 93 countries. As a result of business events within the forum, a solid package of investment agreements and export contracts worth $26.6 billion was signed.
These include large projects in the fields of construction, green energy, mining, infrastructure development, chemical, food, textile and healthcare.
The head of state noted the need to ensure strict control over the timely and full implementation of each point of the road maps, constant dialogue and interaction with investors, creating the most favorable conditions for them and systematically resolving emerging issues in the process of project implementation.
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