乌兹别克斯坦：改革中的投资机遇

The Strategy of actions on five priority areas of development of the Republic of Uzbekistan in 2017-2021 outlines a number of tasks on strengthening macroeconomic stability, actively attracting investment in the economy and regions, especially foreign ones, creation of favorable conditions for development of private entrepreneurship on the basis of privatized state facilities, socio-economic development of districts and cities. Important in this direction is the ongoing activity on improving the efficiency of free economic zones, techno parks and small industrial zones, creation of new ones.

In January 2019, President of the Republic of Uzbekistan Shavkat Mirziyoyev signed a Decree “On establishment of Andijon-Pharm Free Economic Zone”.According to the Decree, Andijon-Pharm free economic zone is established in order to create favorable conditions for active attraction of investments, for implementation of investment projects on creating high-tech pharmaceutical enterprises, saturating the market with high-quality domestic pharmaceuticals, including based on deep processing of local plant materials, as well as integrated and efficient use of production and resource potential of Andijan region, creating new jobs on this basis and increasing incomes of the population of Uzbekistan.

Indeed in recent years special attention has been paid to creation of free economic zones and development of their activities in the Republic of Uzbekistan. For example, if during 2008-2016 only 3 free economic zones were created in the country, then on the basis of relevant decrees and resolutions of the President of the Republic of Uzbekistan Shavkat Mirziyoyev their number reached 21. Currently there are 10 free industrial zones, 8 pharmaceutical, for development of tourism, fishery and agribusiness.

629 projects worth 3660.5 million USD of which 1544 million USD are directly foreign investments were approved in the FEZ. 158 of these projects have been implemented, 431 are being implemented, another 40 are promising projects. Including for the past period, 158 projects worth 1045.5 million USD, approved by the administrative councils, were implemented and as a result 9746 new jobs were created. As of January 1 of the current year, industrial production from the start-up enterprises reached 4.9 trillion UZS and production of 197 types of industrial products has been launched.

The projects include products of light, chemical, food industry, electrical goods, modern building materials, furniture and other finished products that are in demand not only in the domestic, but also in foreign markets. Enterprises exported products worth 194 million USD.

Regional administrative councils are working on the execution of relevant documents on 40 promising projects worth 721 million USD, entitling them to become a member of the FEZ.
In accordance with the decree of the President on additional measures of activating and expanding free economic zones of October 26, 2016, even more favorable conditions have been created for this work.

Today we can see the positive results of these measures in the country's economy. According to the State Statistics Committee of Uzbekistan, in January-November 2018, the foreign trade turnover of the country amounted to 28664.7 million USD and increased, as compared with the same period last year, by 17.6%. Exports amounted to 11 324.0 million USD (decreased by 3.2 %), the volume of imports – 17 340.7 million USD (growth rate of 36.8 %). The balance of foreign trade is minus 6016.7 million USD.

China and Russia occupy the largest share in the export of goods and services of the Republic of Uzbekistan. The share of these countries in total exports is 37.5%.

The structure of exported goods to China and Russia includes a group of energy carriers and petroleum products, chemical products, as well as foodstuffs.

In this period, the number of newly created enterprises and organizations in Uzbekistan amounted to 51.1 thousand, which is 12.6 thousand more than the same period last year.
If to consider newly created enterprises with participation of foreign capital by types of economic activity, the main part is accounted for industry – 652 units, trade – 594 units, construction – 201 units, agriculture, forestry and fisheries – 165 units and other activities – 517 units.

Today, the development of interregional cooperation is one of the priorities of the Uzbekistan – Chinese relations. During the meeting of the distinguished President of the Republic of Uzbekistan H.E. Shavkat Mirziyoyev and the distinguished President of China H.E. Xi Jinping on the sidelines of the SCO summit in Qingdao, special attention was paid to this issue.

As a result of the great attention of the leaders of our countries, in 2018, during mutual visits, twinning relations and interregional relations of long–term cooperation were established between 10 regions and cities of Uzbekistan, which opened new horizons for a wide range of interaction-the promotion of mutual investment and trade-economic cooperation, the establishment of cultural, humanitarian and tourist exchanges, etc.

Joint projects are successfully implemented in the oil and gas and telecommunications industries, in the field of transport, textile, chemical industry and other areas. Chinese business entities participated in construction of many new industrial enterprises in Uzbekistan, in particular, Dekhkanabad potash fertilizer plant, Kungrad soda plant.

With the assistance of entrepreneurs of China in Uzbekistan, production of electrical products, mobile phones, construction equipment has been established. Huawei has implemented 20 projects for development of telecommunication networks in the city of Tashkent and regions of Uzbekistan. Modems, smartphones and other equipment produced jointly with ZTE Corporation are in high demand in the domestic and international markets.

It is noteworthy that the strategic partnership between Uzbekistan and China creates favorable conditions for the implementation of the project "One belt – One road". This initiative provides for the revival of The Great Silk Road, which in the past linked the culture and socio-economic development of the East and West, the creation of new transport and trade routes between more than 60 countries of Central Asia, Europe and Africa. These countries produce 55 per cent of the world's gross domestic product and concentrated in 75 per cent of the world's energy reserves, which further increases the importance of the project as a measure capable of consolidating the international community around common development goals.

The development strategy of Uzbekistan has many points of intersection with the project "One belt, one road", and the parties can implement closer cooperation in strategic planning. In particular, it defines a number of measures for the development of road transport and engineering and communication sphere. Industrial and investment cooperation, energy, agriculture, tourism and others are also potential areas. Their implementation, of course, will contribute to the diversification of foreign trade routes, expanding the geography of Uzbekistan's exports and, ultimately, will contribute to the implementation of the concept of "One belt, one road".

Uzbekistan supports the project "One belt – One road", initiatives in the fields of transport, trade, investment, energy and high technologies. Within the framework of cooperation, Uzbekistan is actively involved in the development of programs for the opening of transport and logistics routes.

China has always been and remains for us a close and reliable friendly country, a time-tested partner, relations with which Uzbekistan attaches priority. At the present stage, relations between Uzbekistan and China have increased to the level of comprehensive strategic partnership. Cooperation covers all areas of politics, economy, trade, industry, construction, science, education, culture.

The results of the meetings and negotiations held between the leaders of our countries within the framework of the SCO summit in Qingdao determined new directions for further expansion of mutually beneficial strategic cooperation in the political, trade and economic, investment, banking and financial, transport and communication, defense spheres.

Today, broad horizons are opening up for further expansion and strengthening of Uzbek-Chinese cooperation. The large-scale reforms carried out today in Uzbekistan within the framework of the Strategy of actions for 2017-2021 create additional opportunities for the development of our relations.

A striking example is the growing interest of business community of China to Uzbekistan. Today more than 1,000 enterprises with the participation of Chinese investments operating in the market of our country. More than 100 leading firms and companies from the friendly China opened their representative offices in Tashkent for a close study of the Uzbek market.

China is actively participating in the implementation of programs to modernize and diversify the economy of Uzbekistan, primarily the development of industries based on high technologies. In particular, Chinese business entities are involved in the construction of many new industrial enterprises, take an active part in the implementation of large-scale and small projects in Uzbekistan.

Design | Jiang Lingzhi