Creating new business districts in Uzbekistan

New free trade zones in the petrochemical, electricity and pharmaceutical industries are being created in Uzbekistan.

During the conference with the President of Uzbekistan Shavkat Mirziyoyev, while getting acquainted with the new projects in the field of petrochemical, electricity and pharmaceutical industries in Uzbekistan, reports on the development of these industries were also presented.

It was stressed at the conference that in the current situation where the epidemic is having a serious and negative impact on the global economy, Uzbekistan will continue to work for the sustainable development of industry.

Uzbekistan follows the process of processing and earning money from raw materials.

With the production of export-oriented final products that replace imports, the necessary measures are taken to increase economic productivity.

The President of Uzbekistan got acquainted with the activities of the new complex for the production of polyvinyl chloride and methanol, which was established by the company “Navai Nitrogen”.

It is noted that the second phase of this factory is currently being designed. At a cost of about $ 440 million, it is expected to employ 650 people and produce products worth $ 132 million a year.

The $ 25 million hydrogen peroxide project was presented to the president.

The project will create 50 jobs and produce products worth approximately $ 20 million a year. The plant will be operational in September 2021 in the Navai region.

Shaukat Mirziyoyev provided instructions on improving the quality of manufactured products, localization, reducing imports and implementing digital technologies in the industry.

The importance of attracting foreign investors in projects to expand exploration and increase hydrocarbon production was also emphasized.

In this meeting, the status of development of pharmaceutical and electrical industries, implementation of priority investment projects with the aim of organizing the production of quality and valuable products and expanding the export potential of these industries were examined.

Reports from heads of industries, ministries and relevant agencies were presented at the meeting.

The president set out specific tasks to develop the pharmaceutical and electrical industries, increase their share of the economy, and ensure their sustainable performance under the coronavirus epidemic.

At present, the country’s electrical industry with 429 companies active in this field produces more than 70 types of goods.

Last year, the electrical industry produced goods worth $ 897.5 million and exported $ 250.3 million.

There are 202 companies operating in the Uzbek pharmaceutical industry.

By the end of 2019, the volume of drug production in the country was $ 170 million and its exports were $ 22.1 million.

nstructions were also provided in the field of attracting foreign investment in the development of the scientific field, increasing the organization of new industries by creating free trade zones.