Khodjaev: Investments should ensure economic growth in Karakalpakstan
Jamshid Khodjaev stated that investments in Karakalpakstan should contribute to the development of production, exports, and the creation of new jobs.
Khodjaev: Investments should stimulate economic growth in Karakalpakstan
Tashkent, Uzbekistan (UzDaily.uz) —
Uzbek Deputy Prime Minister Jamshid Khodjaev stated that Karakalpakstan should utilize its industrial and energy potential to create new industries, increase exports, and ensure stable employment. He made this announcement on his LinkedIn page following the work of the Government Commission in the region.
According to Khodjaev, regional investment policy should function as a unified system, where the development of energy and transport infrastructure facilitates the emergence of new industries, which, in turn, ensure export growth and job creation.
During the commission's work, Khodjaev visited investment projects in Nukus, as well as in the Kegeyli and Karauzak districts.
The Deputy Prime Minister emphasized that the availability of reliable and accessible infrastructure is key to attracting investors.
As an example, he cited the 100 MW Karatau-1 wind farm, built by ACWA Power with $108 million in foreign investment. The second phase of the project is currently underway, involving the construction of an additional 200 MW of wind power and a 100 MW battery energy storage system (BESS). Investments for this phase are estimated at US$263 million.
At the same time, new production chains are developing in the region. In the Kegeyli district, Kegeyli Textile is implementing a $16.5 million project to produce 5,000 tons of yarn per year. The enterprise will create 100 jobs, generate US$1.5 million in exports, and replace imports by approximately $10 million.
In Nukus, Rauia Med is investing US$8 million in the creation of a pharmaceutical production facility with a capacity of up to 48 million tablets and 24,000 capsules per year. In addition, a US$40 million industrial park is planned for construction in the capital of Karakalpakstan. The 76-hectare site is expected to produce 32 types of products and create up to 2,800 jobs.
According to Jamshid Khodjaev, the Government Commission will continue to monitor the implementation of projects and address factors that could delay their launch.
He emphasized that investments must translate into real production, new business opportunities, and long-term economic growth for the region.