In the Republic of Karakalpakstan, the construction of wind power plants and industrial enterprises has begun, and new shopping complexes have been launched. At the ceremony held in this regard, President Shavkat Mirziyoyev spoke about the economic development of Karakalpakstan.

Extensive work is being carried out in the region.  Over the past five years, more than 50 benefits and incentives have been provided in the fields of industry, entrepreneurship, and infrastructure. In particular, the right to allocate land directly for investment projects has been introduced exclusively in Karakalpakstan. Infrastructure is also being provided for projects worth more than 50 billion UZS.

As a result of these incentives, over 2 trillion UZS have been retained by entrepreneurs during this period.

A total of 44.5 trillion UZS has been allocated to improve the business infrastructure in the region. Consequently, in recent years, more than 25,000 new business entities have emerged.

In the past year alone, over 1,400 projects worth 345 million USD were implemented, creating more than 10,000 new jobs. In the first half of this year, 730 million USD in foreign investments have been utilized.

The number of enterprises established with foreign capital in Karakalpakstan is also increasing. In 2017, there were 73 foreign and joint ventures, but today that number has reached 175.

Currently, more than 120 new large-scale projects worth approximately 9.5 billion USD are being implemented, and expected to stimulate the region's economy. These projects will be gradually launched between 2025 and 2028, resulting in the creation of more than 20,000 new jobs, 12 trillion UZS in production capacity, and an additional 500 billion UZS in budget revenue.

The President highlighted the significance of ongoing constructions and complexes being launched.

The pace of economic growth in our country presents substantial challenges for the energy sector.