Tashkent, Uzbekistan (UzDaily.com) -- At the thirty-third plenary session of the Senate, senators heard and discussed the report of the khokim of Fergana region on the ongoing work on the implementation of investment projects and the development of entrepreneurship.

The report noted that certain work has been carried out in the region to attract investment funds and launch investment projects, ensure employment of the population and improve living standards through the development of entrepreneurship.

In particular, the volume of foreign investments mastered in the region has grown by an average of 50% per year, over the past 2 years - by 100%, the region occupies the 2nd place in the republic in this indicator.

If, as part of the ongoing projects of the investment program, in 2021 foreign direct investment and loans totaling US$512 million were disbursed, then in January-August 2022 this figure amounted to US$475 million, which means an increase of 2.2 times compared to the same period of last year (US$216 million).

Thanks to the ongoing work, the investment attractiveness of the region is also growing. The world’s most prestigious international rating agency "S&P Global Rating" (USA) assigned a "B+" credit rating, that is, a "stable" level, for solid financial performance and high economic potential of the region.

In total, in 2021, the region exported US$756.3 million, which is 36% more than in 2020. In January-August this year, products worth US$556.6 million were exported, which is 14.8% more than in the same period last year.

It was noted that the exporters of the region exported more than 150 types of products to 60 foreign countries, there is an expansion of the geography of exports due to Honduras, Cyprus, Hong Kong, Moldova.

Before hearing, the Senate critically studied the work carried out in the region in this direction, at the plenary session, the problematic issues of the republican level identified during the study were widely discussed with the participation of the khokim of the region, heads of the Cabinet of Ministers and relevant ministries and departments.

Thus, it was noted that failure to pay the value-added tax levied on entrepreneurs on time has an impact on the development of their activities, the creation of additional and decent jobs.

There is not enough work on the installation of engineering and communication networks for small industrial and youth industrial and business zones. For this reason, it has been criticized that some projects are not implemented on time, and some are abandoned by the initiating entrepreneurs.

The construction of a 900-meter railway connecting sub-zones "A" and "B" of the Kokand Free Economic Zone has not been started, which, along with difficulties in delivering products to the field, leads to unnecessary costs. It was noted that this raises objections from entrepreneurs.

As a result of the discussion, a corresponding resolution of the Senate was adopted to eliminate problematic issues awaiting their decision, and a task was defined to establish parliamentary control over its implementation.