- Advertisement -
Tashkent, May 03 (APP):President of Uzbekistan Shavkat Mirziyoyev on Friday said that the project of a railway line crossing through Uzbekistan, Afghanistan, and Pakistan would lead to economic integration in the region.
Addressing the ‘Third Tashkent International Investment Forum’ in the Uzbek capital, President Mirziyoyev said initial work was in progress regarding the construction of Uzbekistan-Afghanistan-Pakistan railways.
He also mentioned the work initiated with foreign partners on the construction of China-Kyrgyzstan-Uzbekistan railways.
Terming these as strategic projects, he said, “We will fundamentally change the geo-economy of the region and transform Central Asia into the global transit center that connects North and South, East and West.”
He said Uzbekistan was inviting investors and international organizations to participate in these major regional projects to revive the ‘Great Silk Road on modern foundations.
Uzbek President said that substantial reforms were being made in the railway sector opening wide opportunities for private investors and joint projects are being developed to build toll roads and high-speed railways.
He said that efforts were afoot to modernize Tashkent, Bukhara, and Urgench international airports, and build new ones with the participation of qualified foreign investors.
President, Shavkat Mirziyoyev said the ‘New Uzbekistan’ was a rapidly developing, just, and secular country with vast opportunities.
“By 2030, our goal is to double the people’s income and join the ranks of the upper-middle income countries, we will continue with deep transformation processes in the economy, creating favorable investment and business environments, and increasing value-added production in the industry,” the President said.
Shavkat Mirziyoyev mentioned that in recent years, Uzbekistan’s economy had nearly doubled last year alone, growth rates reached 6 percent, while inflation remained below 9 percent as well the trade turnover is steadily increasing.
“In the past few years, we have attracted over $60 billion in foreign investments and more than $14 billion from international financial institutions have been directed to social and infrastructure projects,” he said.
He said that his government attached great importance to the development of the infrastructure of industrial zones through budgetary allocations and introduced modern transparent mechanisms for allocating land to entrepreneurs, namely through auctions.
He highlighted that the government would adopt the new law titled ‘On Investments’, for which the document had been developed in accordance with the regulations and standards of the World Trade Organization.
“We have adopted the ‘Uzbekistan-2030’ strategy in order to continue systemic reforms, and build a strong and welfare state,” he said.
“The Uzbekistan government outlined 100 specific tasks to achieve sustainable economic growth, provide social protection, preserve health, improve the education system, as well as to ensure the rule of law.”
Mirziyoyev said 28 energy projects were underway in Uzbekistan, adding that by 2030, “we aim to create renewable energy capacity exceeding 20 gigawatts and increase its share in the energy balance to 40 percent.”
He invited the investors to join projects to build hydroelectric power stations in Kyrgyzstan and Tajikistan.