Mon 11 2020 11:51:19

Tashkent, Uzbekistan ( -- President of Uzbekistan Shavkat Mirziyoyev has held a meeting on modernization of geology sector, investment attraction and expansion of geological exploration.

Over the past three years, considerable funds have been allocated to the sphere, large-scale work is underway to update technologies, restore science and retrain personnel. The use of modern technology served to increase the accuracy and productivity of drilling operations. Both proven and projected mineral reserves have grown in volumes.

The meeting participants discussed the main tasks for the next period in the consistent continuation of work on this front, elevation of investment attractiveness of the sector and transformation of state-owned enterprises.

The Head of the state noted the need for significantly enhancing the mineral resource base in 2021-2022 by boosting the volume of geological exploration.

Along with this, it is essential to change the approach to organizing exploration works in order to attract foreign investors. In this sense, Shavkat Mirziyoyev urged the executives to develop promising fields and offer them to foreign investors, improve the system of geological exploration and taxation with an eye to international practice.

The importance was noted for attracting foreign investors to an online auction for 31 sites and deposits of strategic minerals.

“Half of the work in geology should deal with investment issues. The situation in the sector cannot be changed without attracting investments. Short-term, concrete and effective plans are needed rather than pointless plans that promise results in the distant future”, the President emphasized.

The task was set to devise, in cooperation with leading audit and consulting companies, roadmaps for the transformation of state-owned enterprises operating in the field.

Particular attention was paid to training qualified specialists for the sphere and to the development of geological science. Shavkat Mirziyoyev gave a directive to invite a foreign company with advanced experience to revise the activities of UzgeorangmetLITI institute.

Officials in charge of the sector presented information on the work due in 2021-2022.


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