00:05 / 28.05.2020
Profit from every dollar spent must be guaranteed – Mirziyoyev on supremacy of law and guarantees for investors

President Shavkat Mirziyoyev explained the reasons why large investors have no desire in investing in Uzbekistan.

Photo: Presidential press service

The president chaired a videoconference on investment issues on May 26.

“To be honest, Uzbekistan has not had large investments in the last three years. Investors do not come due to our “wonderful” investment history. Regardless of our effort to attract them from all over the world, none of them attempt. When are investors from America and Europe going to come? They create the image of Uzbekistan based on its past. Therefore, it is time to create a new history, with profit from every dollar spent is guaranteed,” the head of state told on a videoconference.

The President also addressed the issue of supporting local investors. At the meeting, it was agreed that preferences granted only to foreign investors will now be extended to local investors as well. For example, in case an Uzbek citizen invests in a project worth more than $25 million, external communication and engineering networks will be built from the budget.

According to Mirziyoyev, special privileges will be granted in the fields of health care, higher education, chemistry and electrical engineering.