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    Money

    President Mirziyoyev unveils $12.7bn plan for 24 projects in key industries

    President Mirziyoyev unveils $12.7bn plan for 24 projects in key industries

    President Shavkat Mirziyoyev convened a meeting on December 25 to discuss the progress and potential of the electrical, chemical, and pharmaceutical industries across regions. Despite significant growth in the past five years—production increasing 2.6 times with a 7% industry share and exports reaching $1.6bn—untapped potential remains, the president's press service reports.

    Shavkat Mirziyoyev during the meeting.
    Source: President's press service

    This year saw the launch of 39 electrical enterprises ($163mn), 17 chemical enterprises ($70mn), and 57 pharmaceutical enterprises ($87mn). However, domestic market saturation stands below 50% in electrical engineering, 40% in the chemical industry, and 18% in pharmaceuticals.

    Addressing existing shortcomings, President Mirziyoyev urged close collaboration between regional administrations and industries to diversify the economy and boost projects for economic growth, jobs, and budget revenues. For the upcoming year, 24 projects, totaling $12.7bn, are set to commence, including expansions in polyvinyl chloride and soda ash production and ventures into olefin and metal sheet manufacturing.

    Officials from all regions of Uzbekistan participating in the meeting via a video call.
    Source: President's press service

    Mirziyoyev stressed the importance of involving local enterprises in supplying construction materials and equipment for project implementation. Additionally, industries and regions collectively generated 190 medium and small electrical projects ($2.1bn), 139 chemical projects ($3.8bn), and 110 pharmaceutical projects ($1.5bn). The President inspected their progress, provided instructions for expediting implementation, and emphasized efficiency improvement. Reports on ongoing projects and regional-industry collaboration were presented during the meeting.

     

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    25.12.2023, 23:34   Comments (0)   1883
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