The President Shavkat Mirziyoyev chaired a government meeting on the modernization of the field of geology, attracting investment and expanding geological exploration Monday, the presidential press service reported.

Shavkat Mirziyoyev reportedly, touched upon the main targets for the near future for consistent efforts in this area, increase the investment attractiveness of the field and reform the state-owned enterprises.

He pointed to the need to significantly expand the mineral resource base in 2021-2022 by increasing the volume of geological exploration. Along with this, he noted the necessity to change the approach to organizing exploration work in order to attract foreign investors. In this regard, he instructed to form and hand over promising fields to foreign investors, improve the system of geological exploration and taxation, taking into account international experience.

In addition, the importance of attracting foreign investors to the online auction for 31 sites and fields of strategic minerals was noted.

“Half of the work in the geological field should be focused on investment. Without attracting investments, the situation in geology cannot be improved. Instead of pointless plans with results in the distant future, short-term, concrete and effective plans are required,” the President stressed.

The task was also set to develop, together with leading audit and consulting companies, "road maps" for the transformation of state-owned enterprises of the sector.

Particular attention is paid to the training of qualified personnel for the field, the development of geological science. The task was set to attract a foreign company with advanced experience to the activities of the UzgeorangmetLITI institute.

At the meeting, the senior officials presented information on the upcoming work in 2021-2022.