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10/06/11 - Investments support economic development

posted 19 Jan 2012, 14:16 by Ambasciata Uzbekistan   [ updated 20 Jan 2012, 01:56 ]

The Ministry of Economy held a press conference in Tashkent on Wednesday on the investment cooperation of Uzbekistan with international financial institutions.

“Stable growth of the socioeconomic parameters in the country is the result of the balanced macroeconomic policy, economic liberalization and modernization and reconstruction of production,” head of the Main department for structural reforms of the economy and investment programs of the Economy Ministry Dilshod Azimov said.

In 2010, GDP growth rate made up 8.5% compared to 8.1% a year earlier. The volume of industrial production increased 1.3 times in the past three years. Investments in the country grew 1.8 times including foreign investments and credits 2.4 times.

Today, Uzbekistan is a full-fledged member of many leading international financial institutions, including the Asian Development Bank, the World Bank, the Islamic Development Bank and others.

The total number of projects with their participation has comprised 198, of which 153 worth USD 1.45 billion have already been implemented.

45 more projects worth over USD 2.4 billion are currently under implementation with participation of the ADB, the WB and the IDB.

The credits and investments of the foreign financial institutions are used in implementing strategically important projects in healthcare, education, infrastructure and communications development, modernization of the power sector and other areas.

With the ADB, the agreement was signed on attraction of a USD 600 million credit for construction and reconstruction of more than 220 km of car roads on the Uzbek national highway.

The funds of the foreign institutions are used in the implementation of the Program of industrial development in Uzbekistan in 2011-2015. The program includes more than 500 investment projects worth USD 47.5 billion.