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    Uzbekistan

    Uzbekistan's Jizzakh region attracts $5 bn investment over seven years

    Uzbekistan's Jizzakh region attracts $5 bn investment over seven years

    Uzbekistan's Jizzakh region reported an investment influx of $5 bn over the past seven years, according to a development meeting led by President Shavkat Mirziyoyev, as reported by his press secretary Sherzod Asadov. Out of this total, foreign direct investments (FDI) accounted for $3 bn, facilitating the creation of 45,000 jobs.

    Photo: Shavkat Mirziyoyev
    Source: President's Press Service

    The period under review also saw the number of entrepreneurs in the region increase from 10,500 to 20,000, marking a 50% growth that surpasses the national average.

    The region has observed an increase in the number of businesses achieving annual turnovers ranging from UZS 1.1 bn ($86,691) to UZS 100 bn (nearly $8 mn) within the last three years. However, the growth rate of medium-sized businesses has not met expectations.

    Jizzakh's industrial sector primarily focuses on automobile manufacturing, textiles, and construction materials. The representation of pharmaceuticals, leather goods, metallurgy, and other industries in the region's industrial portfolio remains minimal.

    The region aims to attract $1 bn in investments over the next three years. The investment plan aims to generate 10,000 high-income jobs, addressing unemployment and contributing to economic development.

    Efforts are also focused on increasing the localization level of the automotive supply chain. The plan involves establishing partnerships to locally produce 365 types of automotive components, aiming for a localization rate of 50%.

     

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    10.04.2024, 14:00   Comments (0)   1640
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