Tashkent, Uzbekistan (UzDaily.com) -- In January-March 2020, compared to the corresponding period of last year, there was a decrease in investment activity in Uzbekistan, the growth rate of investment in fixed assets was 89.8%.

In January-March 2020, 33.4 trillion soums of investments in fixed assets were disbursed, of which 63.9%, or 21.4 trillion soums, were financed from borrowed funds, the remaining 36.1%, or 12.0 trillion soums - at the expense of own funds of enterprises and the population.

From the total volume, due to centralized sources of financing, 8.43 trillion soums of investments in fixed assets, or 25.3%, were spent, which is 13.0 percentage points less compared to the same period of last year.

In January-March 2020, at the expense of own funds of enterprises and organizations, 8.66 trillion soums of investments in fixed assets, or 26.0% of their total volume, were spent. At the expense of the population, 3.37 trillion soums of investments, or 10.1%, were spent.

At the expense of direct foreign investments, 3.65 trillion soums were disbursed, which, compared with the corresponding period of the last year, is more by 3.2 percentage points, or 10.9% of their total.

Along with this, due to loans from banks and other borrowed funds, 4.32 trillion soums were disbursed (of the total volume of investments in fixed assets 12.9%, and this figure, compared to the corresponding period of last year, decreased by 5.6 percentage points) at the expense of loans guaranteed by the Republic of Uzbekistan, amounting to 6 trillion soums (18.0% decreased by 5.1 percentage points), nonguaranteed and other foreign investments and loans – 4.94 trillion soums (14.8% increased by 12.3 percentage points), of the Fund for Reconstruction and Development - 928.8 billion soums (2.8% decreased by 5.6 percentage points), of the Republican budget – 1.35 trillion soums (4.1% decreased by 2.3 percentage points), Fund for the development of water supply and sanitation - 137.1 billion soums (0.4% remained unchanged).

The highest rates and growth rates by sources of financing investments in fixed assets were noted for non-guaranteed and other foreign investments and loans, which, compared to the corresponding period of the last year, amounted to a 5.3 times increase. This is due to large investment projects, in particular, such as the organization of production and production of cement, electronic gas meters, yarn, drugs in the form of infusion and injection solutions, the construction of a mine for the extraction and processing of gold-bearing ores from the AuminzoAmantai ore field - I- Stage II, development of the “Muruntau” quarry (Stage V) - Stage I, construction of a complex for the processing of industrial waste - Stage I-II, construction of the Tashkent Metallurgical Plant, etc.

Also, for investments financed through direct foreign investments, a high growth rate of - 27.9% was observed and this is due to large investment projects, in particular, such as the development of the Kandym group fields with the construction of a modern gas processing plant, the development of the Khauzak and Shady fields, geological exploration in the Kungrad section, field development and hydrocarbon production in the territories of South-West Gissar and the Ustyurt region under the terms of a partition agreement products, etc.

In the territorial aspect of investments in fixed assets, the highest growth rates were noted in Jizzakh region - 163.6%, which is more than in the corresponding period of last year. This result was achieved through the construction of a cement plant.

Along with this, high growth rates were also observed in the Syrdarya region - 137.7%. This result can be explained by the phased modernization of the power units of the Syrdarya TPP.

The growth of investment by 28.0% in relation to the corresponding period of last year in Surkhandarya region is primarily associated with the construction of a cement plant.

The Tashkent city is still the leader in the regional context, which is 22.0 % of the total investment in fixed assets.

In Kashkadarya and Navoi regions, this indicator reached 14.3 and 10.4%, respectively.

High shares in the republic (36.2%) and low investment growth rates (96.8 and 81.5%) observed in Tashkent and the Kashkadarya region significantly influenced the low investment growth rates in fixed assets in the whole Republic of Uzbekistan.

In the technological structure of investments in fixed assets in the Republic of Uzbekistan, 17.15 trillion soums were allocated for the purchase of machinery, equipment and inventory, which amounted to 51.4% of their total volume, investments in construction and installation works reached 13.42 trillion soums (share in the total volume of 40.2%) and other expenses – 2.81 trillion soums (8.4%).

The highest share of construction and installation works in the total volume of investments in fixed assets was observed in Kashkadarya region - 56.7%, or 2.7 trillion soums.

The lowest level of this indicator was noted in Jizzakh region - 15.0%, or 243.4 billion soums, and, accordingly, the highest share of expenses for machinery, equipment and inventory was recorded in this region - 81.2%, or 1.31 trillion soums.

Most of the investment in fixed assets in the reporting period was directed to new construction, the volume of which reached 15.18 trillion soums, which amounted to 45.5% of its total volume.

Investments for expansion, reconstruction, modernization and technical re-equipment of existing facilities amounted to 9.1 trillion soums, or 27.2% of their total volume. The remaining 27.3%, or 9.11 trillion soums, were sold in other areas.

As a result of the construction of a complex for the production of ammonia and urea, the largest share of investments addressed to new construction was noted in Navoi region, which reached 78.0% of the total.

The low level of this indicator for the indicated period was recorded in Jizzakh region, which amounted to 12.5%.

In the structure of investment in fixed capital by type of economic activity, the manufacturing industry prevails. At the expense of all sources of financing in the industry has been mastered 11.83 trillion soums or 35.5% of the total investment in fixed assets. The following three types of activities are leading in the manufacturing industry:

- production of other non-metal and mineral products – 2.43 trillion soums (7.3%);

- metallurgical industry – 2.42 trillion soums (7.2%);

- production of textiles – 2.2 trillion soums (a share in the total volume of investments in fixed assets of 6.6%).

- In the mining industry, 4.29 trillion soums, or 12.9% of the total volume in the republic, were mastered, of which 75.2%, or 3.23 trillion soums of investments in fixed assets, were mastered in the extraction of crude oil and natural gas.

In January-March 2020, 14.6 trillion soums, or 43.7% of the total investment in fixed assets, were foreign investments and loans.

In the total structure of foreign investments and loans, foreign investments reached 4.1 trillion soums and, accordingly, 10.49 trillion soums accounted for by foreign loans.

Foreign direct investment and loans in the reporting period made up 3.64 trillion soums, foreign loans guaranteed by the Republic of Uzbekistan – 6 trillion soums, other foreign investments and nonguaranteed loans – 4.94 trillion soums.

The growth rate of foreign investment and loans, compared to the same period of last year, reached 17.9%.

A significant amount of foreign investment and loans was mastered in the manufacturing industry, which made up 6.48 trillion soums, or 44.4% of their total volume. Also, its composition noted high rates for the production of other non-metal and mineral products - 11.3%, or 1.64 trillion soums, in the metallurgical industry - 11.0%, or 1.61 trillion soums, for the production of textiles - 5.7%, or 831.0 billion soums.

In the mining industry, this indicator amounted to 2.81 trillion soums, or 19.3% of the total foreign investment and loans.

For such activities as electricity, gas, steam and air conditioning, 1.96 trillion soums of foreign investment and loans, or 13.5% of their total volume, were spent.

In total, in January-March 2020, 2 372.2 thousand square meters of housing were commissioned, which amounted to 107.6% of the corresponding period of last year, of which 2 347.0 thousand square meters, or 98.9% of their total volume, were introduced by individual developers, 21.3 thousand square meters, or 0.9% of their total volume - these are houses built according to standard projects, and 3.9 thousand square meters, or 0.2% of their total volume - these are houses built by other business entities.

In total, over the indicated period, 2.37 trillion soums of investments in fixed assets were spent on housing construction, of which 35.1 billion soums from the Republican budget, 17.6 billion soums of own funds of enterprises and organizations, 2 059 from the population’s funds, and 265.5 billion soums were attracted from other sources of financing.

In total, 79.3 km of water supply networks, 21.2 km of gas networks and schools for 5040 students were introduced in the Republic.

In general, 33.43 billion soums of investments were spent on the construction of water supply networks, 846.2 million soums on gas networks and 95.16 billion soums on schools.