Uzbekistan will create a fund to support foreign investors; Uzbekistan’s investment program for 2019 includes projects worth $16.6 billion; 22 investment projects to be implemented in the electrical industry in 2019-2021; Kiremko discusses the possibility of producing potato chips and french fries in Uzbekistan; The World Bank lowered the forecast for economic growth in the world, but confirmed the forecast for Uzbekistan; In 2018, trading volume on the stock exchange increased 2.3 times.
The creation of a new structure was initiated by Shavkat Mirziyoyev during the video-selector meeting on speeding up the implementation of investment projects scheduled for 2019.
The work of the new fund will be organized on the basis of international experience and experience of similar structures operating in other states.
The President also noted that in order to further intensify the attraction of investors to developed projects, it is necessary to hold forums with the participation of foreign companies in each region at least once a year, and also ensure the participation of domestic entrepreneurs in large international investment forums abroad.
The Investment Program of Uzbekistan for 2019 includes more than 3 thousand projects totaling $16.6 billion. This is 16 percent more than in 2018, Shavkat Mirziyoyev said during the video selector meeting held in Tashkent on Tuesday.
In particular, within the framework of the investment program, 140 production facilities are planned to be commissioned with a total value of $3.2 billion.
The meeting discussed issues of timely and high-quality implementation of these large and important projects.
The volume of investments in electrical industry in the previous year amounted to only 0.8 percent of the total investments in the country, and the production volume of electrical products in the structure of GDP – 1.5%.
It should be noted that the limited resource base in this industry leads to an increase in production costs.
In 2019-2021, 22 investment projects will be implemented on technical and technological moderenization of existing and creation of new electrical production facilities at the amount of $153.8 million. In the next two years, the volume of production of finished electrotechnical and electrical products with high value-added will be increased by 2 times. It is envisaged to bring the volume of their exports to $400 million.
In Utrecht, a meeting was held between representatives of the Uzbek embassy in the BENELUX countries and the Dutch company Kiremko.
The company provides project management services, including the establishment of production lines, assists in providing engineering and technological support for joint ventures abroad. It has joint ventures in Russia, India and China.
The Kiremko leadership is ready to establish contacts with the Association of Potato Producers of Uzbekistan and consider the possibility of organizing trainings on the production and storage of seed potatoes for representatives of the association. The parties also discussed the prospects of creating a joint production for processing potatoes in Uzbekistan.
The World Bank lowered the forecast for economic growth in the world, but confirmed the forecast for Uzbekistan
Against the background of increasing risks of deterioration of economic indicators in 2019, the growth rates of the world economy are projected to slow down and amount to 2.9%.
This year, the growth rates of the European and Central Asian economies are expected to be adversely affected by the lingering effects of financial turmoil in Turkey: in 2019, it will slow to 2.3%.
The World Bank’s outlook for Uzbekistan has not changed since the previous report. Uzbekistan’s growth rate will reach 5.1% (2019), 5.5% (2020), and 6% (2021). This is one of the best indicators in Europe and Central Asia. It is predicted that the growth rate of Kazakhstan’s economy, for example, will slow down from 3.5% in 2019 to 3.2% in 2021.
At the end of 2018, the volume of exchange transactions in corporate securities on the Republican Stock Exchange “Toshkent” amounted to 687.9 billion soums.
For the first time in history, the number of transactions exceeded 10 thousand and amounted to 13,751 units. This is almost 5.3 times more than in 2017 (2,572 transactions).
Last year, in the total turnover of the RSE “Toshkent”, shares and corporate bonds of companies engaged in the provision of financial services — banks, insurance and leasing companies — experienced the greatest investment attractiveness. They accounted for 88.7% of the exchange turnover, or 610.3 billion soums.