The fair participants include ministries, departments, economic associations, banks, large and small enterprises, farms, scientific and educational establishments, as well as international organizations and financial structures.

Opening the event, Vice Prime Minister K.Sanaqulov said implementation of innovations helps raise the products’ competitiveness, reduce its cost, attracts private investments and opens new markets.

Uzbekistan has seen impressive economic growth in the recent years. The country’s investment attractiveness has cardinally improved. The flow of foreign investments has doubled in the past three years, the official said.

The country is gradually forming a new market mechanism, which combines innovative and economic interests of the science and industry and envisages their beneficial cooperation.

According to the president of the Uzbekistan Science Academy Sh.Salihov, all institutions of the academy, as well as universities and scientific departments of the ministries, departments, large associations and companies are currently oriented at the real needs of production.

The purpose of the innovative ideas and projects fair, in which more than 100 scientific and educational establishments and hundreds of scientists are participating, is to present the best innovations and experience to the real sector of the economy.

All of the demonstrated projects are ready for commercial or industrial implementation. The projects cover areas like industry, agriculture, healthcare, pharmaceutics, IT, science and education.