President Mirziyoyev questions the proposal for 22 new cement plants, urging officials to prioritize elevating the value-added products within existing capacities and adopting environmentally friendly technologies. Addressing top-priority tasks for advancing the country's economic landscape during a meeting on export, investment, and local industry on January 18, President Shavkat Mirziyoyev underscores the strategic importance of investments across various sectors, as reported by the presidential press secretary, Sherzod Asadov.
Over the last six years, Uzbekistan has experienced a remarkable surge in investment inflow to the industry, witnessing a sevenfold increase. Despite this impressive growth, concerns were raised during the meeting regarding the lack of comprehensive analysis assessing the impact of investments on job creation, added value, and export growth across different sectors and regions.
One example highlighted during the meeting was the proliferation of cement production capacities that currently exceed the annual demand. President Mirziyoyev expressed bewilderment at the proposal to construct an additional 22 cement plants, urging officials to prioritize increasing the value-added products from existing capacities and adopting environmentally friendly technologies.
Furthermore, the meeting shed light on the import of equipment worth $14.2bn over the past three years. The president voiced disappointment that despite the significant technological influx, the industrial export growth in various regions did not correlate proportionately.
"Industry and export are not growing proportionate with the funds invested. This raises questions about the necessity and efficiency of projects, the potential overinflation of certain initiatives, and the proficiency of specialists in utilizing imported technologies," stated President Mirziyoyev.
To address these concerns, the General Prosecutor's Office has been assigned the task of establishing a control system to identify and rectify instances of overpriced equipment imported from abroad.
Earlier reports had already indicated President Mirziyoyev's apprehension about the sluggish pace of the investment and foreign trade system. Emphasizing the significant strides made in augmenting the gross domestic product (GDP), the president underscored the need to diversify investment sources and expand the scope beyond domestic avenues to achieve overarching economic goals.
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