Uzbek President proposes to turn Navoi region into centre for investment and innovation

15.03.2019

At the meeting with the active of Navoi region, President Shavkat Mirziyoyev outlined the tasks for the integrated development of the region.

Despite the fact that the Navoi region occupies a leading position in gross regional product, its reserves and opportunities are not fully utilised. The region's economy depends on several large enterprises, while small business and private entrepreneurship are developing at a slow pace.

"In order to give a powerful impetus to the development of entrepreneurship in the region, it is necessary to create here such a favourable and attractive business climate, which would increase the interest in engaging in entrepreneurship not only among local residents, but also the population of other areas. From now on, Navoi region should become an area of entrepreneurs," Shavkat Mirziyoyev said.

The head of state proposed to turn the Navoi region into a free economic zone for innovative and high-tech industries focused on export. It was noted that a special commission headed by the Deputy Prime Minister will be created for this, a system of benefits and preferences for the participants of this economic zone will be defined.

At the meeting, special attention was paid to the issues of actively attracting investments, creating modern enterprises and providing employment to the population.

It was reported that for the Navoi region a program was developed designed for 2019-2020 of 511 investment projects worth 26 trillion 368 billion soum. Under this program, it is planned to master $1 billion in foreign direct investment and loans, and create 17.4 thousand new jobs. In particular, it is planned to implement 12 major projects at the Navoi Thermal Power Plant, in joint-stock companies Kyzylkumcement, Navoiazot and in other industries.

Shavkat Mirziyoyev instructed to analyse the possibilities of the region in the field of agriculture, to take measures to increase the production of garment and knitwear and astrakhan, to increase exports.

Reported by Uzbekistan Daily.