Karakalpakstan to Attract $3.1 Bn in Investment

It is planned to attract $3.1 bn in investments to Karakalpakstan by 2025, with $1 bn allocated to new regional projects, as reported during a meeting with the President of Uzbekistan, Shavkat Mirziyoyev.

These investments will facilitate the launch of 120 enterprises, increase exports to $500 mln, and reduce unemployment to 5.4%. It is expected that 150,000 people will find jobs, and 20,000 low-income families will gain additional sources of income.

A 1 GW wind farm is currently under construction in the region, with plans to initiate projects totalling 9.3 GW in capacity, aiming to generate 33 billion kWh of electricity annually. Additionally, there are plans to utilise natural gas reserves to support the establishment of large metallurgy, chemical and construction enterprises.

In agriculture, industrial orchards and vineyards will be developed across 3,000 hectares. Sesame will be cultivated on 31,000 hectares and mung beans on 22,000 hectares, both with a focus on export. A project to cultivate licorice over 30,000 hectares will be implemented within three years.

To manage these initiatives effectively, a project office will be established in the republic to focus on developing agriculture, industry, and tourism. This office will analyse the growth potential of different districts and propose projects for processing raw materials, manufacturing products and creating tourism infrastructure.