Uzbekistan plans to attract US$1.435 billion of foreign investments in 2008 compared with forecasted US$1.018 billion in 2007.

Uzbek President Islam Karimov approve investment programme of Uzbekistan for 2008.

The country plans to attract US$1.022 billion of foreign direct investments under 42 projects in 2008 against US$692.7 million (41 projects) in 2007.

Uzbekistan will attract US$413.4 million under 37 projects under guarantee of the government in 2007. This year, the country expects to attract US$325,6 million under state guarantees.

Russian companies will invest vast part of the investments in Uzbekistan. Gazprom will invest US$105 million out of total US$260 million. Lukoil will direct into Uzbekistan US$100 million from total planned US$995 million.

Russian Mobile TeleSistems will re-invest US$98 million into its Uzbek company, MTS-Uzbekistan, which is the largest mobile operator of Uzbekistan in terms of subscribers’ number.

According official data, Uzbekistan utilized over US$20 billion of foreign investments and credits.