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Investment program of the Republic of Uzbekistan for 2012 that was approved by the Head of State defined the main parameters of capital investment in the national economy. Their total volume exceeds 23.6 trillion soums with 75.7% share of non-centralized investments.
Own funds of enterprises and households, along with loans of commercial banks, as well as the state budget and extra-budgetary funds are locomotives of economic development of Uzbekistan in the coming year. The analysis shows that the share of intra-financing in 2012 is 74.4% of capital investments.
Proportion of enterprises' own funds in the total volume of capital investments is also high. In 2012, according to the forecast, it will amount to 28.8%. Industrialization is the main priority of the investment policy of the state.
The country is implementing large-scale program of industrial development for 2011-2015 to improve the technical condition of fixed assets. Implemented since October 2011, the Program of priority measures to improve production and development of new types of competitive products in 2012-2016 with an estimated cost of $6.2 billion includes 270 investment projects.
The goal of modernization is to make domestic companies more competitive.
The funds are mainly invested in efficient equipment and technology. All projects are aimed at improving productivity, quality of products, and increase of export.
The share of domestic banks in investing in the economy is growing. According to the forecast, in 2012, the share of the banking sector in the 'capital pot' will increase to 14.8%. Last year the figure was 12.5%. At the same time 6.3% in the sector is occupied by soft loans of Qishloq Qurilish bank for the construction of residential houses in rural areas.
As for direct foreign investment and loans, in 2012 the share of this funding source in the structure of capital investments of the national economy is forecasted 18.3%, same as of last year.
The share of the Fund for Reconstruction and Development in 2012 is forecasted at 6% of the total capital investment in the economy.
In 2011, capital expenditures were utilized by all funding sources in excess of $10.8 billion, or 11.2% more than in 2010. The share of investment in GDP was 23.9%, reflecting the high activity of the investment process in the country.
This information was announced by the head of state at the meeting of the Cabinet of Ministers on the main results of 2011 and the priorities of socioeconomic development in 2012.
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