Mirziyoyev highlights fierce global competition for investments and markets

President Shavkat Mirziyoyev emphasized the intense global competition to capture investments and markets during a videoconference meeting on January 16. He pointed out the challenges of attracting foreign funds and stressed the importance of effectively utilizing those investments.

Mirziyoyev instructed leaders to strengthen control over the tasks set, establish clear mechanisms, and ensure that they are implemented at every level. Ministers, sector heads, and regional governors were urged to take proactive steps by working directly in the districts.

Despite challenges such as strong external competition and logistics issues, the President set an ambitious target to increase exports by $30 billion this year. He noted that Uzbekistan's key sectors, such as textiles and electrical engineering, are not being fully utilized. Creative approaches to these sectors could potentially boost exports by two to three times.

To support this growth, a draft resolution has been prepared to develop these sectors, with provisions for comprehensive support to export-focused enterprises. A new factoring organization will be established to provide exporters with working capital, with $100 million allocated for this purpose. Additionally, up to $20,000 will be available to reimburse enterprises adapting to international certification standards, and laboratory equipment imported for development and research centers will be exempt from customs duties. Furthermore, $2 million will be allocated to promote local products on international marketplaces.

Officials were tasked with analyzing the potential of each sector in foreign markets and developing a three-year export strategy. Mirziyoyev also shared that last year, 12 technoparks were transferred to foreign enterprises for management, leading to 27 projects worth $2.5 billion being placed in these areas. Technoparks are being established in cooperation with foreign partners, including Turkish companies in Zangiota, Tatarstan in Karmana, and China in Andijan, Karmana, Almalyk, Chirchik, Zarafshan, Kokand, and Tashkent.

Officials were instructed to continue finding foreign investors and propose the establishment of additional technoparks in available areas within existing economic zones.

The meeting also focused on the importance of establishing new free economic zones dedicated exclusively to export activities. These zones will focus on producing high-value goods with foreign brands that are in demand globally.