Tashkent, Uzbekistan (UzDaily.com) —  On 3 December, President of Uzbekistan Shavkat Mirziyoyev held a meeting focused on the socio-economic development, improvement of the investment climate, and business environment in the Ferghana region.

Over the past seven years, the region has shown significant economic growth: the number of industrial enterprises has almost tripled, reaching 13,000. The implementation of investment projects has created 116,000 jobs. Due to the attention given to regional economic development, including Ferghana, foreign investments attracted during the first 10 months of this year amounted to US$1.5 billion, and the region’s exports reached US$910 million.

The meeting discussed measures to further increase investments, create jobs, and boost exports. The President highlighted key areas of focus for 2024.

The "Qoqand" Free Economic Zone was recently expanded by 210 hectares with land from the city of Quvasay. This area is expected to implement 185 projects worth US$1 billion, creating about 12,000 jobs. In Qoqand, a technology park is also planned to be built on 71 hectares, which will initially attract US$900 million in investments and provide 5,000 jobs.

Agreements have been reached with Chinese investors for US$1 billion and with South Korean businessmen for US$240 million. The implementation of these projects will involve the creation of industrial zones with a total area of 1,210 hectares. This will provide employment for 30,000 people, including members of low-income families.

A trade and logistics center has begun construction in Besharik district, which will become a free trade zone similar to Termez. The shops in the center will be rented out to entrepreneurs, increasing the region’s exports by US$50 million and creating 2,000 jobs. A similar complex is planned to be built in Quvasay.

There is also growth potential in the region’s agriculture. The area has 91,000 hectares of available land that can be effectively used for the production and processing of goods. For example, the Ferghana district annually grows 6,000 tons of raspberries. Developing infrastructure for storage, processing, and packaging of the fruit will increase the added value of the product by 2.5 times.

Additionally, entrepreneurial initiatives suggest using forest lands to grow ferula and saffron, as well as expanding intensive horticulture. For example, the construction of 9 kilometers of pipelines to pumping stations in Altaryk will enable the creation of an intensive orchard on 1,400 hectares, yielding an additional 55,000 tons of fruits for export.

The regional governor presented plans to attract US$3.7 billion in investments and increase exports to US$1.5 billion next year. The goal is to provide employment for 500,000 citizens and lift 22,000 families out of poverty.

The President instructed to refine the proposals and prepare a decree on the economic development of the Ferghana region. He emphasized the importance of creating favorable conditions for exporters, supporting employment, reducing unemployment, and enhancing the accountability of regional leaders.