President of Uzbekistan Shavkat Mirziyoyev announced that 353.3 million dollars will be allocated in 2020 to support the construction industry of the country. Support measures are aimed at preventing the decline in construction volumes during the quarantine period. All types of construction works are allowed in the republic since April 20, under full compliance with sanitary and epidemiological measures.
Quarantine restrictions have been in effect in Uzbekistan since March 17. Industrial enterprises in most regions of the country have stopped working or were not functioning at full capacity.
“The construction sector, whether it is the construction of housing or infrastructure projects, is a source of new jobs. It generates demand and supply in the market, and ultimately ensures economic growth. If the industry leaders, commit to the awareness and responsibility assigned at today's meeting, and organize their work correctly, we will overcome the economic crisis with minimal losses,” said President Shavkat Mirziyoyev.
According to the President of Uzbekistan, the State Fund for Supporting the Development of Entrepreneurship will provide private contractors with partial compensation for the loan interest and warranting of up to 50% of the loan amount.
The Ministry of the Internal Affairs of Uzbekistan was entrusted with providing conditions for the free movement of transport of industry enterprises, including building materials manufacturers.
The Anti-Crisis Fund will allocate $147 million for water supply infrastructure ($49 million) and road construction ($98 million).
During Q1 2020, the volume of construction work decreased by 4 % YoY. The volume of production of building materials during the first month of quarantine fell by 30-40 %. The construction industry provides jobs for 1.325 million residents of the country, as per government report.
The government is also set to launch the construction of seven new building materials production facilities in 2020.
