BAKU, Azerbaijan, Dec. 24
By Klavdiya Romakayeva - Trend:
Uzbekistan will establish a system of pre-export financing at the expense of the export support fund, Trend reports with reference to the Ministry of Investment and Foreign Trade of Uzbekistan.
President Shavkat Mirziyoyev at a meeting held on December 23 dedicated to the discussion of the effectiveness of the work being done and the main tasks for 2021 in the field of investment and foreign trade noted that 2021 will be a difficult year for the economy, and therefore it is necessary to take concrete, targeted measures to attract and develop investments, ensure export forecast indicators, and increase the production of import-substituting products.
It was noted at the meeting that it is planned to attract more than $7.5 billion of direct foreign investment next year. The meeting also identified measures for the full and timely use of these funds in each project. It was instructed to take measures for the timely implementation of 226 large projects through these investments.
In addition, the task was set to qualitatively execute 69 new promising industrial projects, thereby creating additional reserves for economic growth.
At the same time, special attention will be given to the chemical industry, energy, geology, electrical engineering, and light industry as the main driver areas.
President of Uzbekistan pointed out the importance of introducing from January 1, 2021, a new system for the implementation of projects financed by loans from international financial institutions, conducting appropriate training for managers and employees of project offices for effective development, and ensuring the effectiveness of funds for each project.
It is expected that exports next year will amount to around $17 billion. In this regard, the responsible persons were instructed to conclude export contracts in advance, and from January 1, 2021, to establish a system of pre-export financing at the expense of the export support fund.
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