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09/July/2022   President

The President of Uzbekistan: Geology is the main driver of economic growth

TASHKENT, July 9. /“Dunyo” IA/. Yesterday, President Shavkat Mirziyoyev chaired a meeting on the results achieved in geology and plans for the industry until the end of the year, reports “Dunyo” IA correspondent.


According to the press service of the Head of our state, chairman of the State Committee for Geology and Mineral Resources B. Islamov reported on the work carried out in recent years.

As a result of the introduction of modern technologies, the volume of exploration and drilling operations increased by 1.5 times.

Tax rates for the use of subsoil have been reduced, opening the way for private investors. An investment of 1 billion 400 million dollars has begun due to the sale of deposits through an auction.

The University of Geological Sciences has been established, the activities of which are organized based on the most modern technologies and advanced methods.

At the presentation held on May 19 this year, the President gave instructions on the transformation of the state enterprise Navoiuran and the increase in uranium reserves. Today, information has been presented on the work begun in this direction, targets for the medium and long term.

It is planned to transfer the technological process and financial reporting to international standards, to double the volume of production and reserves of uranium by 2030.

The Head of the state emphasized that for the effective implementation of these activities, it is necessary to open a project office in Navoiuran, attract foreign specialists and improve the skills of personnel.

The development of deposits of non-ferrous and rare metals was also discussed. The area of geological exploration for these types of raw materials has been expanded. It is planned to create the Yangi Kon company under the Fund for Reconstruction and Development of Uzbekistan. This company will implement investment projects for the extraction of lithium, aluminum, magnesium, graphite, and other rare metals.

Water resources are also important. In recent years, the groundwater level in 21 districts has dropped to 20 meters from the surface. Despite this, unauthorized drilling of wells for water is observed in some places. In 2021 alone, 1.2 thousand such cases were detected.

That is why the President previously instructed to organize the rational use of groundwater. To this end, a draft law was developed to increase liability for inefficient use of groundwater.

Reports were made on measures taken to increase groundwater reserves in Bukhara, Jizzakh, Samarkand, Surkhandarya and Tashkent regions.

Information was also provided on the widespread introduction of renewable energy sources and the creation of an appropriate cluster in Kashkadarya.

“In general, geology is the main driver of economic growth. It is necessary to exploit its full potential”, the President said.

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