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    Uzbekistan

    Uzbekistan's agricultural sector to attract over $5bn in foreign investments

    Uzbekistan's agricultural sector to attract over $5bn in foreign investments

    On December 3, a significant meeting convened at the Ministry of Agriculture, chaired by Deputy Prime Minister Jamshid Khodjayev, focused on the ambitious goal of further expanding investments in Uzbekistan's agriculture sector,  government portal of Uzbekistan reported.

    The gathering witnessed the presence of Agriculture Minister Ibrahim Abdurahmanov, deputy ministers, representatives from organizations under the Ministry, and key personnel from the Administration of the President and the Cabinet of Ministers.

    Photo: Deputy Prime Minister Jamshid Khodjayev
    Source: Government portal of Uzbekistan

    Agenda and Discussions

    The meeting delved into crucial aspects, including the investment targets set for 2023, achieved results, ongoing project implementations, year-end expectations, and the investment projects slated for 2024.

    Deputy Ministers of Agriculture presented comprehensive reports on Foreign Direct Investment (FDI) and the progress of investment projects undertaken by the Ministry from January to November 2023.

    Source: Government portal of Uzbekistan

    In the current year, the Ministry kickstarted 24 investment projects totaling $988.5mn. This includes 16 direct investment projects valued at $578.6mn and 8 FDI projects amounting to $409.9mn, all slated for implementation.

    Deputy Prime Minister's Algorithm and Directives

    Deputy Prime Minister J. Khodzhaev outlined a specific algorithm of actions aimed at attracting new investments to the agricultural sector and expediting project implementations. He provided relevant instructions for the effective utilization of foreign loans and the acceleration of projects in the investment program.

    Source: Government portal of Uzbekistan

    Untapped Opportunities and Reforms

    The meeting emphasized the need to fully capitalize on untapped opportunities in the agrarian sector, particularly in areas such as transport, logistics, agro-services, insurance, and leasing. It called for an activation of reforms in the sector, with special attention directed towards supporting farmers and entrepreneurs. The ministry set additional tasks, targeting the absorption of promising foreign investments exceeding $5bn. 

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    05.12.2023, 12:12   Comments (0)   1940
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