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Activation of investment operations in Syrdarya region

In May this year, a Working Group headed by Deputy Prime Minister of the Republic of Uzbekistan S. Umurzakov and involving top officials from relevant ministries, departments, and commercial banks implemented a significant work in Syrdarya region to review concerns faced by entrepreneurs and the population of the region in view of the breakthrough of the Sardoba reservoir dam.

A man-made disaster that resulted in destruction of industrial and agricultural enterprises, infrastructure, residential buildings and household plots caused a significant loss by entrepreneurs and exporters. The population of the affected areas is currently deprived of jobs and earning opportunities.

In this regard, the Working Group held targeted meetings with entrepreneurs and residents of the affected areas. During the meetings, the participants disclosed existing problems and developed proposals and mechanisms for urgent measures to support the population and legal entities with a view to resolving issues related to the restoration of production, restructuring of existing loans, acceleration of damage assessment procedures, and payment of compensation for insurance policies.  The heads of the relevant ministries and departments received certain instructions for prompt support within the concerns specified.

Previously, the Working Group reviewed the existing economic potential and idle reserves, as well as the ideas and proposals of the residents and entrepreneurs, and formed new investment projects within several weeks  providing establishment of greenhouses, livestock, poultry, and leather processing enterprises in electrical, textile, food and other industries. The main goal is to accelerate the launch of enterprises and create new jobs, as well as conditions required for domestic labor, which will enable the solution of issue ensuring employment for the local population.

The relevant departments and commercial banks developed 665 investment projects totalling to UZS 10.2 trillion. These projects will provide 22,732 new jobs, including 2,065 jobs involving the population to the domestic labor. Every project has land plots allocated, responsible officers assigned and financial sources. All projects will be implemented by the end of the first quarter of 2021.

The General Prosecutor's Office supported the creation of a mechanism to effectively control and monitor implementation of measures developed during operation of the Working Group in Syrdarya region.