Speaking at the session of the Cabinet of Ministers, President of Uzbekistan Shavkat Mirziyoyev said that it is required to critically analyze current situation in attracting foreign investments, first of all, direct investments. Share of direct investments fell to 30%, he said.

Uzbek leader said that loans of international financial institutes are used inefficiently, especially in systems of Republican Road Fund and Uzkommunhizmat. He said that there are no systematic work, control or responsibility.

President also stated that one of main barriers is red-tape in expertise of projects and tenders. He said that Agency on expertise of feasibility studies of the projects did not give expected results.

Uzbek head said that the governors in regions also fail to attract foreign investments. One example, Uzbek leader said only US$55 million of investments were attracted to 18 projects in Kashkadarya, Namangan and Surkhandarya regions. This means US$3 million per project in average.

This is not enough if take into account that special programmes on development of industry and infrastructure in these regions are implemented, Mirziyoyev.

He said that governors of all regions in cooperation with the banks should submit the reports on the state of attracting foreign investments each quarter.