The Ministry of Investment and Foreign Trade of the Republic of Uzbekistan made comprehensive efforts to intensify investment activities in Namangan region.

The relevant work was structurally divided into two key areas: projects aimed at the development of entrepreneurship and domestic labor on co-operative principles and projects implemented under the regional program for complex development.

The first area included 157 new projects totaling UZS 2.2 trillion, which will be implemented, including by attracting funds from international financial institutions amounted to USD 103 million and employing 18.4 thousand people within domestic labor in such areas such as weaving, handicraft, horticulture, animal husbandry, poultry farming, beekeeping, gardening, jewelry, goat farming, woodworking.

This regional program for complex development will implement 1,651 projects worth UZS 8.3 trillion, which will create 34.8 thousand jobs. The program provides the attraction of foreign direct investments amounted to USD 369 million and loans of commercial banks amounted to UZS 1.9 trillion.

It should be noted that the development of these projects involved the study of the strengths and weaknesses of the districts and cities of the region to maximize the use of region's potential through identification of growth points, i.e. 'drivers' for the economic development.

One of such 'drivers' in the region is the textile industry, where technological development provides the production of high-quality finished products that are highly demanded on the foreign market. Here, the special attention will touch upon the increase of the added value of textile products sold for export by establishing contacts with foreign brands in order to produce finished clothes under the brands of leading foreign companies, while it is planned to increase the level of cotton yarn processing in the region to 95%. Subsequently, there will be measures taken to create domestic brands and promote them to foreign markets.

In the near future it is planned to increase production and exports in the textile industry. To do this, the first phase provides the allocation of 100 hectares of land in Turakurgan region and creation of specialized textile trade and industrial zone.

Besides, there is a number of investment projects to localize and phase-out imports in the production of construction materials, leather processing and manufacture of finished shoes and leather products mainly by establishing cluster-type enterprises. A particular attention will be paid to an increase of production capacities to manufacture construction materials, in particular ceramics, as well as to reduce their cost by adopting innovative technologies for the deep processing of minerals. The implementation of these purposes will intensify the operation of relevant specialized scientific and technical centers through systematic financing of scientific developments involving specialized funds and foreign grants.

Considering the historical traditions of Pap and Chust districts of Namangan Region for goats breeding, this area will receive a boost. It is planned to implement investment projects to establish production clusters for the processing of goat wool and production of finished wool products to be further exported.

The implementation of 128 investment projects worth USD 81 million touch upon the transition from traditional to intensive gardening, which will significantly increase the economic efficiency of land use and reduce the cost of growing fruit crops in the region. In addition, this sector will involve the new approach - establishment of export clusters including large export farms, production facilities for processing and storage of products, logistics centers, as well as quality control and certification laboratories focused on specific export markets by attracting specialists and introducing standards of the country, where the delivery is planned. The total area of land allocated to implement this projects is 4.5 thousand hectares, including the creation of 9 thousand jobs.

One more 'driver' that significantly reduces the time and financial costs when implementing the projects is the system of 'package' support for entrepreneurs adopted by commercial banks. This approach provides a full range of services to entrepreneurs, from the allocation of funds to training in the methods for one or another type of activity and assistance in documents preparation. In general, NBU JSC, Asaka Bank JSCB, and Uzpromstroybank JSCB will implement 129 projects worth UZS 2.4 trillion, including the creation of 7,317 jobs.

They will actively use the potential and experience of countrypeople living and doing business abroad to implement projects in Namangan region, i.e. this area will include 17 projects worth USD 247 million.

Totally, Namangan region will implement 2,148 projects amounted to UZS 13.1 trillion including the creation of more than 55 thousand new jobs in 2020-2021 through all investment projects and above 'drivers' of the economic growth.