Tashkent, Uzbekistan (UzDaily.com) -- On 5 January this year, a working group headed by the Minister of Investments, Industry and Trade Laziz Kudratov and consisting of the heads of industry associations, commercial banks and local authorities began to study and develop further measures on site to increase the export, investment and industrial potential of the Republic of Karakalpakstan.

Among the addresses of the visit were a number of large industrial enterprises of Muynak, Kungrad, Kanlykul, Shumanay and Khodjeyli districts. On the ground, meetings were held with project initiators, current issues of entrepreneurs, prospects for further development of production capacities were studied. Special attention in the course of the study is given to the analysis of the potential of the region in terms of the implementation of new investment projects in priority sectors.

The work carried out in various regions of the region made it possible to identify a number of enterprises that have significant potential for increasing capacity and further expanding production. On the basis of a comparative analysis, address locations for the implementation of new investment projects have been identified. In general, the implementation of these measures will increase the volume of industrial production in the Republic of Karakalpakstan by an additional 1 trillion soums in 2023.

New approaches to improving the efficiency of work on expanding industrial production, implementing investment projects and stimulating exports were discussed during a videoconference meeting held on the same day.

During the meeting, the results of 2022 were summed up in the context of industrial growth, export performance and investment activity. Thus, last year Karakalpakstan produced industrial products worth 17.7 trillion soums, export volumes amounted to US$108.6 million, and US$40.4 million of foreign direct investment was disbursed. In addition, it was noted that 959 projects under the regional investment program attracted US$177 million in investments, which made it possible to create 16,200 new jobs.

The plans for 2023 include bringing the volume of industrial production to 20.5 trillion soums, exports to US$122.8 million, as well as the implementation of 934 projects worth US$582.9 million with the creation of 16,618 new jobs.

It was emphasized that work is currently underway to increase these indicators in the context of each area - industry, investment and export, based on a detailed analysis and effective planning.

To realize the existing potential, the leaders responsible for the areas were given specific tasks to form regional working groups, organize systematic work to visit the regions, identify and mobilize additional reserves, and develop programs for the advanced development of industry. The need to intensify work with potential investors and entrepreneurs was noted for the implementation of promising investment projects, the transformation of small manufacturing enterprises into medium-sized ones, and medium-sized enterprises into large ones.

As a result of the meeting, instructions were given on the effective implementation of the tasks set and the development, based on the study of detailed network schedules for the production of industrial products, localization, as well as the commissioning of new capacities in the context of regions and industries.