WHEN OUTCOMES SURPASS EXPECTATIONS

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In the first 9 months of 2016, Uzbekistan drew $2.65 billion in foreign investments, 11.2% up from last year.

More than $1.8 billion of this amount is accounted for direct foreign investment. As a result, the share of foreign investments in the total utilized investments increased from 21.1% to 22.3%. As a result, a hundred of big industrial projects totaling $3.7 billion were completed as part of the Investment Program since the beginning of the year.

22,000 projects were implemented, including 4,274 industrial projects on the introduction of new production capacities in 3,195 enterprises, launch of new activities at 162 enterprises, modernization of 264 and expansion of 653 enterprises.

According to the Ministry of Economy, the bulk of the increase of industrial output was provided by the manufacturing industry, the share of which has increased from 78.2% in the same period in 2015 to 79.7%.

The highest rates of industrial production growth were recorded in the industries that produce goods on the basis of enhanced processing of raw materials, primarily textiles, clothes and leather articles – 14.8%, food products – 13.7%, pharmaceutical products and drugs – 23.7%, chemical products, rubber and plastic products – 34.1%, construction materials – 12.9%.

The banks allocated 4.4 trillion soums of credits to the manufacturers of consumer goods to enable them to produce and expand the range of finished consumer goods, purchase equipment and increment the working capital. As a result, enterprises developed the production of 57 new kinds of products, 141 new designs of ready sewed and knitted products, and more than 80 types of new drugs.

Localization projects played a huge role in this dynamics: they paved the way for the production of more than 50 new types of industrial products, including petrochemical equipment, fittings, vehicle speedometers, electric furnaces, electric storage water heaters, fitness equipment, children’s bicycles, scooters, and much more.

The projects on modernization, technical and technological upgrade of industries, as well as the ‘Program of measures on reduction of energy intensity, introduction of energy saving technologies in economy and social sector for 2015-2019’ allowed reducing the cost of manufactured products at large enterprises by an average of 9.4 %.

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