Uzbekistan to attract over $ 160 mln through its first investment hub
By Kamila Aliyeva
Uzbekistan’s first investment hub set to attract foreign direct investment is planned to be created in the Fergana region of the country, according to the State Committee for Investments.
This initiative was presented to the Uzbek president Shavkat Mirziyoyev during his working trip to the Fergana region.
It is planned that through the permanent offices of the hub abroad, domestic business people and businessmen from twin-cities, more than $161 million will be attracted to the country.
These funds will be used to open new enterprises and modernize existing ones, create more than 2,700 jobs. Also, the investment hub will work in close interaction with the free economic zones (FEZ) and innovative centers of the region.
“The Fergana region will be the first experimental platform for a productive exchange of ideas, experiences and opportunities in order to create favorable conditions for investors and improve the welfare of the region. Similar hubs are planned to be organized in other regions of the country,” the State Committee for Investments said.
Uzbekistan is a regional power in progress and the government is committed to creating favorable conditions to attract foreign investments.
The volume of used direct and other foreign investments in fixed assets in Uzbekistan exceeded $2.4 billion in 2017. The growth of used direct and other foreign investments was 1.4 times as compared to 2016. Their share in the country’s total investment grew from 15.3 percent in 2016 to 20.4 percent in 2017.
Uzbekistan’s Fund for Reconstruction and Development directed $ 1 billion to the construction of large, strategically important investment projects, which grew by 84.8 percent compared to 2016.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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