Uzbekistan to introduce new system of control over implementation of investment projects

President Shavkat Mirziyoyev chaired a video conference devoted to the analysis of the implementation of investment projects, as well as tasks for the first half of the year.

About 700 investment agreements were concluded to attract tens of billions of dollars in recent years, as a result of negotiations with the heads of foreign states and international financial organizations, leading business representatives.

The volume of investments in fixed assets last year increased by more than 18 percent. This, in turn, ensured the growth of industrial production by 14.4 percent.

According to the 2019 Investment Program, in the framework of more than 3.2 thousand projects, it is planned to utilize investments worth almost $14 billion. In particular, it is planned to channel more than $4 billion of foreign direct investments on 320 projects.

The head of state proposed to introduce a new control system to ensure the timely utilization of investments. According to it, all projects involving foreign direct investment will be divided into four lists, which will be monitored separately.

The first list will include 27 major strategic projects, providing for the utilization of $3.6 billion of foreign investments in the current year. Their implementation will be under the constant control of the President.

The second list will comprise 65 major projects totaling $1.3 billion, their implementation will be under the control of the Prime Minister.

The third list, which will be monitored by deputy prime ministers, and includes 65 projects involving the utilization of $407 million of foreign investments.

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