Foreign Investors and Local Entrepreneurs Present $1.8 Billion Projects to President Mirziyoyev
Foreign Investors Boosting Economy in Karakalpakstan
Companies from various countries like China, Saudi Arabia, Germany, Russia, and Spain are actively investing in projects in the Republic of Karakalpakstan, significantly contributing to the region’s economic growth. These projects span across different sectors including energy, heating supply, mining, chemical industries, construction materials, services, and more.
Over the past seven years, a total of 6,784 projects valued at 17.8 trillion UZS have been completed in Karakalpakstan, resulting in the creation of 56,000 new jobs. The region has also seen an impressive export value of $2.815 billion. Currently, 470 projects worth $874 million are in progress in the republic.
The collaboration between foreign investors and local entrepreneurs has led to the formation of 124 projects in Karakalpakstan with a combined value of $9.5 billion. Notably, 10 projects amounting to nearly $1.8 billion were recently presented to the president for approval.
Some of the key projects include the improvement of the centralized heating supply system in Nukus with the support of Saudi Arabia, the construction of solar and wind power plants in the Karauzyak district with Spanish investment, and plans for copper processing and cable manufacturing projects in the Nukus district with German investors.
These 124 projects are expected to create job opportunities for over 20,000 individuals in the region, further boosting the local economy. The president has emphasized the significance of accelerating these projects and ensuring comprehensive support for entrepreneurs involved in the development initiatives.
With the continued support from foreign investors and the dedication of local entrepreneurs, Karakalpakstan is poised for sustained economic growth and prosperity in the years to come.
