In 2024, Karakalpakstan aims to increase the volume of industrial production to 23 trillion soums and achieve production capacity of two trillion soums. 24 large projects amounting five trillion soums are planned to be established in textile, electrical, pharmaceutical and building materials areas.

Besides, the region is planning to attract $2.1 billion of foreign investments. The sum is planned to flow into 206 projects in industry, 240 in services, 34 in agriculture. About 13 thousand high-income jobs will be created.

These figures come from a meeting on the development of Karakalpakstan on January 10 chaired by the President Shavkat Mirziyoyev.

foreign investments, karakalpakstan

Karakalpakstan is setting the positive growth in industry, agriculture, tourism and other services areas, as the statement reads. The region is intending to elevate exports to $160 million.

Foreign investment will be attracted to increase crop yield. Water conservation technologies will be installed in six thousand hectares of land. 31,000 hectares will be aligned using a laser.

Mahalla infrastructures and citizens' houses will be renovated. 2.3 billion soums will be allocated to fund patients in need of medical services requiring high-tech equipment.

182 billion soums will be streamlined to the citizens' initiatives and additional 40 billion soums to the same needs from the local budget. 10 trillion soums will be spent to fund projects within the initiatives of small and medium-sized businesses.

foreign investments, karakalpakstan

President stated that plans to create new jobs in the region do not match the existing potential. He suggested additional opportunities.

For example, 71 projects worth 775 billion soums can be launched in 51 industrial zones. This can create 1,000 jobs. 10,000 hectares of free land can be auctioned. Thus to attract 20,000 entrepreneurs who can potentially create 50,000 jobs. There is also a possibility to develop non-metallic deposits at the expense of projects worth 7.5 trillion soums which will employ ten thousand people, the president noted.