15:10 / 26.10.2020
Uzbekistan plans to attract up to $5 billion of Chinese investments per year

On October 24, a discussion was held in the format of a videoconference on the progress of the implementation of tasks to strengthen trade-economic, investment, financial-technical, transport-logistics and cultural-humanitarian cooperation with China and the Republic of Korea, the MIFT press service reported.

Heads of ministries, departments and industry associations took part in the discussion, which was led by Deputy Ministers of Investments and Foreign Trade A. Voitov and L. Kudratov.

The meeting participants analyzed the projects planned for implementation together with Chinese and Korean partners. Also, a detailed analysis of a number of projects, which are currently lagging behind the implementation schedule, was carried out. Based on the results, algorithms were developed for solving existing issues, indicating specific terms for eliminating problems and imposing personal responsibility on the heads of relevant ministries and departments.

It is decided at the meeting that a special working group will be created, the task of which is to accelerate the implementation of projects and initiatives with Chinese and Korean partners.

“This approach is a prerequisite for achieving the targets set by the President for cooperation with China and South Korea – by 2025, the annual volume of investments from the PRC is planned to reach $5 billion, and from the Republic of Korea – up to $1 billion. At the same time, the volume of annual exports to China by 2025 should amount to at least $3 billion, and to the Republic of Korea – at least $800 million,” the MIFT noted.