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    Uzbekistan

    MIIT unveils industrial investment projects worth $4 bn in Uzbekistan

    MIIT unveils industrial investment projects worth $4 bn in Uzbekistan

    MIIT of Uzbekistan has taken a pioneering step in the realm of economic development with the introduction of a dedicated online platform aimed at showcasing a plethora of investment projects. The platform, accessible at loyiha.miit.uz, is designed to provide comprehensive insights into a remarkable collection of 100 innovative initiatives. These initiatives have been meticulously curated as part of an ambitious endeavor aligned with the President's visionary open dialogue strategy, specifically targeted at fostering collaboration between the government and entrepreneurial minds.

    Spanning across nine diverse sectors, these investment projects have the potential to reshape Uzbekistan's industrial landscape and stimulate economic growth. The sectors encompassed are as follows:

    • Leather and Footwear Industry
    • Mechanical Engineering and Auto Industry
    • Metallurgy
    • Agriculture
    • Construction Materials
    • Textile Industry
    • Pharmaceuticals
    • Chemical Industry
    • Electrical Engineering

    A detailed examination of the platform reveals an array of promising ventures that are set to revolutionize various domains. For instance, there are plans to establish a state-of-the-art facility for the production of rolled metal in the Karakalpakstan region. Simultaneously, the Jizzakh region envisions becoming a hub for silicon production, while the Fergana region aspires to become a prominent player in the domain of photo panel manufacturing. The Samarkand region aims to contribute to sustainable transportation solutions by producing transformers and batteries for electric vehicles. Notably, the Bukhara region also seeks to venture into the burgeoning electric vehicle market.

    The initiative extends beyond merely conceptualizing these projects. It's structured to facilitate their realization by providing essential support in terms of land registration and infrastructure development. The government's role in this transformative process is pivotal, as it pledges support not only in terms of infrastructure but also in financing these visionary undertakings.

    In terms of financial commitment, the collective investment required is estimated at a substantial $3.98 bn. Of this amount, a significant portion, approximately $2.78 bn, is expected to be funded through the Industry Development Fund. This fund allocation serves as a testament to the government's resolute commitment to driving economic progress and fostering innovation.

    Upon successful implementation of these groundbreaking projects, their collective projected production volume is anticipated to reach an impressive $1.3 bn. Moreover, they hold the potential to contribute significantly to the country's exports, with an expected export value of $495 mn. Furthermore, these projects are projected to create more than 20,000 job opportunities, which stands as a testament to the tangible socio-economic impact of this comprehensive initiative.

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    15.08.2023, 17:48   Comments (0)   1285
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