Uzbekistan’s Industrial Expansion Boosts Economic Growth and Job Creation
Jizzakh, The Gulf Observer: Across all regions of Uzbekistan, new enterprises are being established to meet the demands of the economy. This initiative is generating new jobs, developing industrial sectors, and ultimately improving the well-being of the population.
In the past five years, the volume of the processing industry in the Jizzakh region has increased by 1.6 times, reaching 19 trillion soums last year alone. Export volumes have surged by 2.2 times, amounting to US$202 million. Foreign investment in the region is also on the rise. In 2018, Jizzakh received US$18 million in foreign investment, which increased to nearly US$700 million last year. The region now hosts 260 enterprises with foreign capital.
In Zaamin district, approximately 300 projects worth 1.8 trillion soums have been implemented over the past five years, creating over three thousand new jobs as part of investment programs. Thanks to a favorable business environment, the number of small business entities in the region has quadrupled.
Industrial development has commenced in Zaamin, a region strategically located in the central part of Uzbekistan with a recently expanded and reconstructed airport and a railway. A special industrial zone, “Technopark,” is being established in collaboration with the Chinese company Mingyuan. The initiative involves 400 hectares of land and a target program for infrastructure development, with 160 billion soums allocated. Thirty projects, attracting Chinese investment of US$1.2 billion, have been initiated.
The Technopark will focus on the production of high-value-added and import-substituting products for foreign markets. Projects in electrical engineering, mechanical engineering, building materials, furniture, food industry, and services are underway. This development is expected to create over 5,000 jobs, produce industrial products worth 4.7 trillion soums, and generate an export potential of US$70 million.
An international center for the exchange of experience and engineering will be established within the Technopark to train qualified specialists for industrial enterprises. Additionally, the site will feature an office center, residential buildings, an eco-park, a large exhibition hall, and a shopping center.
At a ceremonial event, the head of state pressed a symbolic button, officially launching the construction of the first investment projects in the Technopark and wishing business people success in implementing these modern projects.
Zaamin’s beautiful natural environment is also fostering tourism as a key driver of the area’s economy. The recent creation of the Zaamin tourist zone aims to enhance tourism services in the region.
