10 Nov 2009 15:36

Investment in Uzbekistan soars 28.3% in 9M

TASHKENT. Nov 10 (Interfax) - Investment in the Uzbek economy from all sources of financing grew 28.3% year-on-year in constant prices in the first nine months of 2009 to 9.0089 trillion sum, the Uzbek State Statistics Committee said.

A total of 72.8% of all capex, or 6.555 trillion sum, was spent on construction, reconstruction and technical upgrades in the 9M compared to 67% a year earlier.

Investment by companies and the public accounted for 49.5% of total capex in the period compared to 54.6% in the same period of last year, with budget-funded investment accounting for 9.5% (11.1%), off-budget funds - 7.8% (8%) and bank loans and other forms of borrowing - 4.2% (4.4%).

Uzbekistan absorbed $1.794 billion in foreign investment in the 9M, accounting for 29.9% of total investment, compared to 21.9% in January-September 2008. Foreign direct investment came to $1.534 billion, or 24.8% of total investment, up from 16% a year previously.

The transportation and communications industries received 53.8% of total foreign investment and loans in the period, geological exploration - 12.2%, the fuel and energy industry - 14.6%, light industry and construction materials - 2.5% each, public utilities - 2.3%, education - 1.1% and the food industry and other sectors - 8.9%.

Uzbekistan commissioned 371 industrial sites, including 71 in light industry and textiles, 139 in the food industry, 122 in construction materials, 13 in machine building, and ten in agriculture.

Uzbekistan implemented a total of 156 modernization projects in leading sectors.

Capital expenditures by all sources of financing are planned at 10.458 trillion sum in 2009, including $1.864 billion in foreign investment.

Uzbekistan saw capex rise 28.3% to 8.484 trillion sum in 2008.