OREANDA-NEWS. On 18 August 2008 was announced, that President of Uzbekistan Islam Karimov signed a resolution "On measures for improvement of process of attraction and use of foreign investments and credits".

The document said the resolution was directed to better coordination of efforts among state bodies and business entities on attraction and use of foreign investments and credits, used to modernization and technical update of the enterprises.

The resolution said the Ministry of Foreign Economic Relations, Investments and Trade (MFERIT) is key part in discussion, consideration and approval of investment proposals, preparation of annual investment programmes, medium-term programmes for industrial and regional development.

It also approved order of attraction of foreign investments and credits and schema of interaction of project initiators and state bodies in process of attraction and use of foreign investments and credits.

The document also entrusted the MFERIT to create single database of investment proposals for attraction of foreign investments and credits, search of potential investors and inform investors on existing opportunities.