New order of forming and financing investment programs

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January 18, 2018

New order of forming and financing investment programs

On January 17, 2018, a meeting on issues of application of a new procedure of forming and financing state programs of development of the Republic of Uzbekistan was held under the chairmanship of President Shavkat Mirziyoyev.

The meeting was attended by the Prime Minister of the Republic of Uzbekistan and his deputies, chairman of the Jokargy Kenes of the Republic of Karakalpakstan, khokims of Tashkent city and regions, heads of relevant ministries and departments.

The Head of our state, noting the importance of investments for achieving high rates of economic growth and providing strong social protection, criticized the previously disorderly organization of activities in this sphere.

Previously, leaders of the sphere in pursuit of high figures were engaged in embellishing the indicators of attracting and absorbing investments. As a result, the heads of khokimiyats and industries, in order to fulfill this “burden”, had to include ineffective projects in the investment programs that do not correspond to the development of regions and industries, without specific funding sources and initiators.