President Orders Removal of Export Barriers and Faster Implementation of Investment Projects
Uzbekistan
Export potential, investment projects, the development of national brands and the efficiency of the banking sector became the central topics of the latest stage of the videoconference chaired by the President. The Head of State called for removing systemic barriers to business, accelerating the implementation of investment projects and improving the performance of state institutions.
The President drew attention to the fact that 2,411 real estate assets with a total value of 9.3 trillion soums remain unsold on the balance sheets of commercial banks. He instructed officials to conduct a comprehensive inventory of every asset, verify the legality of retaining these properties and ensure transparency in the sales process.
The situation in foreign trade also came under sharp criticism. In several regions, imports continue to grow faster than exports. The largest negative trade balances were recorded in the Tashkent, Samarkand, Andijan, Jizzakh and Bukhara regions. The President stressed that regional leaders must intensify efforts to develop import-substituting industries and export-oriented production.
Over the past three years, 509 export-oriented production facilities worth a total of $11 billion have been launched across the country. However, 208 enterprises have yet to begin exporting. In addition, 29 of the country's 47 special economic zones have not made a single export shipment since the beginning of the year. To address these challenges, special task forces will be established to assist enterprises with certification, financing, logistics and access to export markets.
Particular attention was also paid to idle equipment. Currently, 219 units of equipment worth $300 million remain unused, while installation work on another 154 facilities valued at $619 million has not been completed. The Government has been instructed to eliminate all existing obstacles within one month.
The President also emphasized the need to strengthen support for national brands. Despite financial assistance provided by the state, nearly one-third of registered domestic brands have not yet entered foreign markets. The Government has been instructed to prepare a new support program for national manufacturers within two weeks and strengthen measures to protect the domestic market from dumped imports and counterfeit products.
The transport sector was also assigned important tasks. Due to a shortage of freight railcars, manufacturers did not receive the 2,800 wagons required for cargo transportation. The Government was instructed to develop a mechanism for utilizing up to 10,000 idle freight wagons located in partner countries, accelerate the modernization of railway infrastructure and secure $200 million in financing from the World Bank.
A separate part of the meeting focused on the implementation of international investment agreements. Following 52 high-level foreign visits, agreements were reached on 1,617 investment projects worth a total of $213 billion, but oversight of their implementation was found to be insufficient. Responsibility for monitoring the implementation roadmaps has now been assigned to the Accounts Chamber and the Ministry of Foreign Affairs, while the Prime Minister will review the progress of these projects on a weekly basis.
The President also criticized the performance of several diplomatic missions in attracting investment and promoting foreign trade. Saida Mirziyoyeva, Head of the Presidential Administration, was instructed to establish a special commission to evaluate the effectiveness of Uzbekistan's diplomatic missions in economic diplomacy, investment promotion and export development, and to prepare proposals for replacing underperforming personnel with young, modern-minded professionals.
The situation in foreign trade also came under sharp criticism. In several regions, imports continue to grow faster than exports. The largest negative trade balances were recorded in the Tashkent, Samarkand, Andijan, Jizzakh and Bukhara regions. The President stressed that regional leaders must intensify efforts to develop import-substituting industries and export-oriented production.
Over the past three years, 509 export-oriented production facilities worth a total of $11 billion have been launched across the country. However, 208 enterprises have yet to begin exporting. In addition, 29 of the country's 47 special economic zones have not made a single export shipment since the beginning of the year. To address these challenges, special task forces will be established to assist enterprises with certification, financing, logistics and access to export markets.
Particular attention was also paid to idle equipment. Currently, 219 units of equipment worth $300 million remain unused, while installation work on another 154 facilities valued at $619 million has not been completed. The Government has been instructed to eliminate all existing obstacles within one month.
The President also emphasized the need to strengthen support for national brands. Despite financial assistance provided by the state, nearly one-third of registered domestic brands have not yet entered foreign markets. The Government has been instructed to prepare a new support program for national manufacturers within two weeks and strengthen measures to protect the domestic market from dumped imports and counterfeit products.
The transport sector was also assigned important tasks. Due to a shortage of freight railcars, manufacturers did not receive the 2,800 wagons required for cargo transportation. The Government was instructed to develop a mechanism for utilizing up to 10,000 idle freight wagons located in partner countries, accelerate the modernization of railway infrastructure and secure $200 million in financing from the World Bank.
A separate part of the meeting focused on the implementation of international investment agreements. Following 52 high-level foreign visits, agreements were reached on 1,617 investment projects worth a total of $213 billion, but oversight of their implementation was found to be insufficient. Responsibility for monitoring the implementation roadmaps has now been assigned to the Accounts Chamber and the Ministry of Foreign Affairs, while the Prime Minister will review the progress of these projects on a weekly basis.
The President also criticized the performance of several diplomatic missions in attracting investment and promoting foreign trade. Saida Mirziyoyeva, Head of the Presidential Administration, was instructed to establish a special commission to evaluate the effectiveness of Uzbekistan's diplomatic missions in economic diplomacy, investment promotion and export development, and to prepare proposals for replacing underperforming personnel with young, modern-minded professionals.
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