On December 14 this year at the National Exhibition Center "UzExpoCentre" the Republican Inter-Sectoral Industrial Fair, organized by the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan jointly with the Khokimiyat of Tashkent city, was launched.

The opening ceremony of the fair was attended by S.Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of the Republic of Uzbekistan, the leadership of the Presidential Administration of the Republic of Uzbekistan, the Ministry of Investments and Foreign Trade, the Chamber of Commerce and Industry, ministries, departments, industry associations, holding companies, and representatives of business circles and mass media. In total, 3,185 branch and regional enterprises take part in the fair, and the range of presented products makes up 5,169 commodity items.

Opening the event, S.Umurzakov emphasized the special attention paid in Uzbekistan to the development of industrial potential and expansion of production localization by creating favorable conditions for manufacturers, for which the country's government is taking specific effective measures. It was noted that this fair is one of such measures and is aimed at strengthening cooperative ties between domestic entrepreneurs, increasing the number of high-tech industries, deepening processing of local raw materials, establishing new types of products and creating jobs.

In this vein, the role of the Electronic Cooperation Portal was emphasized: it was announced that during the regional intersectoral fairs held this year, 2.6 thousand trade contracts for the supply of domestic industrial products worth more than 4 trillion soums were concluded through the Portal. In addition, 973 investment agreements were signed on the implementation of joint projects for the production of import-substituting industrial products.

It was noted that in accordance with the decision of the Head of State, in November this year, the Portal was transformed into the Center for Digital Transformation, whose task will be to create a unified digital ecosystem for domestic entrepreneurs and exporters. Using this ecosystem entrepreneurs will be able to use external payment services, as well as the mechanism of "escrow", which guarantees the fulfillment of payment obligations in trade transactions. By January 1, 2024, the income tax rate for e-commerce platforms integrated into the ecosystem will be halved. An important component of this ecosystem will be, in particular, a centralized logistics platform through which entrepreneurs will have easier access to the services of domestic and foreign transportation companies for the delivery of products in both domestic and foreign markets.

A feature of the fair is a special emphasis not only on the establishment of cooperative ties between domestic enterprises, but also to stimulate an increase in the number of investment projects implemented in the country, aimed at expanding production of import-substituting products that are in demand in the country.

At the preparation stage for the event an in-depth analysis of imports of existing production facilities in Uzbekistan was carried out, on the basis of which the commodity positions were identified, whose production should be localized in the country. The Center for Development of Investment Projects under the Ministry of Investments and Foreign Trade has developed ready investment project proposals based on accurate technical and economic calculations, which will be presented to the participants during the event.

The business program of the fair is full of thematic events: on the first day - December 14 - presentations in the fields of mining, metallurgy, geology and chemical industry are organized. Presentations and negotiations in the light industry, energy, oil and gas, innovation and finance are scheduled for December 15, and in the fields of electrical engineering, mechanical engineering, building materials, jewelry and transportation and logistics - for December 16. The final day of the fair, December 17, is devoted to agriculture, food processing, viticulture, fishing, healthcare and pharmaceuticals.

During the fair the specialists of the Electronic Cooperation Portal under the Ministry of Investments and Foreign Trade actively interact with the participants and assist in joining with potential partners and organizing B2B negotiations to discuss practical aspects of business cooperation.

The Republican Inter-Sectoral Industrial Fair will last until December 18 this year. Manufacturing enterprises, representatives of small and medium-sized businesses and private entrepreneurs are invited to participate in the event.