OREANDA-NEWS. The Government of Uzbekistan is planning to implement 870 large investment projects worth USD 38 billion by 2020, the action programme of the Cabinet of Ministers for near and long-term perspective, presented by Prime Minister Shavkat Mirziyayev at the joint session of both chambers of the parliament on 23 January said.

The projects will be implemented within a programme of measures on ensuring structural reforms, modernization and diversification of production for 2015-2019.

Within the developed programme, a list of about 870 large investment projects for USD 38 billion was created.

The projects envisage creation of 415 new enterprises and modernization and re-equipment of 455 existing industrial plants.

The programme will be directed at developing high-technological production capacities and producing export-oriented produces, competitive both in internal and external markets.

Among them are ready textile goods and semi-finished products, polymers and other products of deep processing of hydrocarbon raw materials, electronic and electrical appliances, household products, modern construction and finishing materials, leather and footwear products, food and pharmaceutical industries.

According to preliminary calculations, implementation of the programme will allow fast development of industries, which produce goods with high added cost such as machinery, oil and gas chemical, chemical, textile and foods industries and launch production of almost 1,000 new industrial produces.

The programme should help to increase industrial production by 1.5 times in five years and share of industry in GDP of Uzbekistan will grow from 24% to 27% by 2020.

It is also expected that the growth of high-technological exports and create over 52,000 new jobs.