In the first ten months of 2024, Uzbekistan attracted over $26bn in foreign investments—1.7 times more than the same period last year. Of this amount, $24bn were direct investments, playing a vital role in driving economic growth, according to the presidential press service.
These investments facilitated the launch of 6,300 enterprises, created an added value of UZS 30 trillion ($2.33bn), increased exports by $305mn, and generated 163,000 high-paying jobs.
With an additional $8.6bn expected by the end of the year, Uzbekistan's investment landscape is showing robust growth. However, at a meeting held on November 27, President Shavkat Mirziyoyev critically reviewed the results and outlined areas for improvement.
Despite the positive trends, the president highlighted challenges in several regions and industries. Investment activity was low in eight districts and cities, while some industries experienced a decline compared to 2023. Additionally, delays were noted in 17 key projects, with issues in documentation and tender processes involving international financial institutions.
The president called for a more strategic approach to attracting investments. He urged regional authorities to capitalize on opportunities, such as funding from the European Bank for Reconstruction and Development (EBRD), which has expressed readiness to support private-sector projects.
Future investment efforts are expected to focus on quality alongside quantity. Authorities were tasked with ensuring that every dollar of investment fosters industrial development, job creation, and enhanced export potential.
Officials were tasked with reviewing funding strategies and defining clear projects for 2025, focusing on public-private partnerships and private-sector investments. This approach aims to diversify investment sources, enhance infrastructure, and create sustainable economic opportunities across all regions.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)