Shavkat Mirziyoyev instructs to attract investment in extracting mineral resources

Shavkat Mirziyoyev held a meeting on development of the field of geology, expansion of the scope of work on extracting minerals. The presidential press service reported about it. 

The president was not satisfied with the level of investment in the industry. Currently, only 14 of the 111 fields are implementing six projects involving foreign direct investment ($39 million).

The meeting participants discussed how to optimize geological exploration and production tax rates, increase the efficiency of budget funds allocated for this work, and attract private investment in the field.

Shavkat Mirziyoyev instructed to develop a program of geological exploration of the new format for 2020-2021 and update the material-technical base of the industry.

According to the press service of the president, the country has more than 2,000 deposits with reserves of 73 types of minerals. Of these, 437 deposits remain undeveloped. In addition, 70% of the equipment involved in exploration works is worn out.