Uzbekistan to spend $ 40 billion for modernization of production
By Sara Rajabova
Uzbekistan will allocate $40 billion to investment projects for the modernization and diversification of production.
Uzbekistan adopted a program of measures to organize structural reforms, modernization and diversification of production for 2015-2019, UzDaily reported.
The country will implement 846 investment projects on modernization, technical and technological renovation of the production capacities for $40.809 billion under the program.
Investors and sources of financing were determined on 711 new investment projects for $19.64 billion. The program includes 135 perspective projects for $21.169 billion, which will be realized through foreign investments and loans in 2015-2019.
The program’s implementation is expected to ensure an average annual growth of the gross domestic product in 2015-2019 at the level of at least 9 percent and 9 percent industrial output. This will help Uzbekistan grow its share of industry in GDP from its current 24 percent to 27 percent in 2020.
In the reporting period, Uzbekistan will launch the production of about 100 new groups of goods (1,000 types of goods) and annual production and export potential of industry will grow by 18 trillion soums and $2 billion respectively.
Under the program, Uzbekistan plans to implement 124 investment projects on modernization and renovation of production capacities and 48 perspective investment projects with foreign investments in geology, energy, chemical, petrochemical and metallurgy industries.
Almalyk Mining Metallurgy Combine and Navoi Mining Metallurgy Combine are planning to implement 41 projects on modernization and renovation of production capacities in 2015-2019.
The complex of machinery, automobile and electro-technical industries and product standardization will realize 77 projects, which will be directed at launching new products and expand existing capacities on production of agriculture equipment, trucks and spare parts.
Uzeltekhsanoat is planning 39 investment projects for $268.5 million within the program andUzstroymateriali, 11 projects.
Uzbekyengilsanoat will realize 58 projects toward the creation of new facilities and the modernization of existing capacities as well as work on 21 perspective projects.
The association Uzbekcharmpoyabzali is planning to implement 61 investment projects on the production of leather and modern footwear, demanded abroad.
The association of food industry enterprises are planning to realize 304 projects for $410 million in 2015-2019, which envisage the creation of storage capacities and processing of agriculture products, deep freezing, vacuum packaging, etc.
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Sara Rajabova is AzerNews’ staff journalist, follow her on
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