NEWS AND EVENTS
December 26, 2012
More than 27.1 trillion soums (official exchange rate 1USD=1984 UZS) of capital investment to be used in 2013 across the country
An efficient investment policy determines by and large the success of an entire country. Crucial here is the right direction, allowing all players in the market to correctly assess the situation, opportunities and prospects. Uzbekistan has taken a further step in attracting new investment inflows. In late November, the president signed an investment program for 2013.
A peculiar road map for investors has been developed jointly by the Ministries of Finance, Economy as well as Foreign Economic Relations, Investments and Trade. Experts note that the document will ensure the implementation of strategically important investment projects for construction of new facilities, modernization, technical and technological renovation of enterprises, accelerated the development of transport, engineering, communications and social infrastructure, the creation on this basis, employment and sustainable and dynamic development of the economy.
In general, in the future, Uzbekistan planned to draw more than 27.1 trillion soums of capital investments, of which 6.69 trillion soums are centralized investment, 20.4 trillion soums are decentralized. Thus, in 2013 the republic plans to attract over 4.5 trillion soums of foreign direct investment and loans, as well as 1.7 trillion soums of foreign investment and loans in equivalent guaranteed by the Government. To recall, by the end of this year spending 23.6 trillion soums are planned. The government plans to attract 1.7 trillion soums of foreign investments and loans in terms of this warranty. Even the order of 4.3 trillion soums is direct foreign investments and loans.
Projects, not included the main investment program, will be included in a regional investment programs, the development and approval of which is now finalizing the Council of Ministers of Karakalpakstan and the provincial authorities and Tashkent. As part of these programs, 1,226 projects attracted US$841.2m in investment and thus created 22.1 thousand jobs in the past year.
A special attention in the coming year will be paid for the execution of this document. A number of ministries will monitor the timely commissioning of facilities and production capacity, customer fulfillment and contractors conditions of contracts in strict compliance with the requirements for the quality of work and, if necessary, to adjust the address lists of construction projects based on the actual use of funds within the limits of capital investments. In addition, at the end of each month they will present to the Cabinet of Ministers on the progress of the program.
Among the largest investment projects which are planned in Uzbekistan in the next few years - the construction of Ustyurt Gas Chemical Complex and a unique plant for the production of synthetic liquid fuels from GTL methane.
The construction of the Ustyurt GCC project is unique not only in scale to attract investments, but also technology that will be used when creating the object. It is planned that after the commissioning of gas chemical complex will produce up to 400,000 tons of polyethylene and 100,000 tons of polypropylene. According to these indicators it will be the largest such complex in the CIS, and Karakalpakstan, where there is a building complex, will become one of the largest industrial centers of the country.
In turn, the second project involves the organization of the country\'s high-tech, innovative production, which has no analogues in the CIS and Europe, for the production of clean synthetic liquid fuels, primarily diesel and jet fuel of Euro-IV, Euro-V. The commissioning of the company will diversify the production of products based on advanced processing of natural gas, improve fuel quality.
To note, today is also continuing its program of priority measures to improve production and development of new types of competitive products. As part of the document in 2012-2016 to be implemented more than 270 investment projects worth US$6.2b. (Source: Uzbekistan Today newspaper)