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    Uzbekistan

    President of Uzbekistan targets $160bn GDP by 2030

    President of Uzbekistan targets $160bn GDP by 2030

    On February 13, President Shavkat Mirziyoyev of Uzbekistan delved into a comprehensive presentation outlining strategic reforms slated for implementation throughout the year, Uzbekistan's presidential press service reported.  The "Uzbekistan-2030" strategy aims to propel the country's gross domestic product to $160 bn by 2030, with a per capita income target of $4,000, positioning Uzbekistan among above-average countries in terms of economic performance.

    Photo: President Shavkat Mirziyoyev of Uzbekistan 
    Source: Uzbekistan's presidential press service
    The presentation underscored reforms across five critical areas: transportation, urbanization and urban development, entrepreneurship, agriculture, and energy. Transportation emerged as a pivotal factor for economic development, with a focus on diversifying air and rail routes to offset the country's distance from sea routes. Last year witnessed the establishment of six airlines and the acquisition of 28 new aircraft, while private sector involvement was encouraged at Samarkand International Airport.

    Moving forward, the transformation of Uzbekistan Airports and Uzbekistan Airways companies will be accelerated, with an emphasis on private sector participation in airport management. The importance of high-quality internet infrastructure was highlighted to bolster financial services, e-commerce, distance education, and medical services in rural areas.

    Photo: On February 13, President Shavkat Mirziyoyev of Uzbekistan delved into a comprehensive presentation outlining strategic reforms slated for implementation throughout the year
    Source: Uzbekistan's presidential press service

    Urbanization emerged as another key focus, with plans to increase the number of cities and districts with populations exceeding 300,000 from 13 to 28. To manage urban expansion effectively, a concept and legislation to regulate urbanization processes will be developed to mitigate infrastructure costs and preserve agricultural land.

    Enhancing the business environment requires clear rules for private sector engagement in various sectors, including roads, water supply, education, and healthcare. Collaborative projects with sector and regional leaders will be formed to stimulate private investment and partnership.

    The presentation emphasized the transfer of certain state functions to the private sector, particularly in the development of territories and management of free economic zones. In agriculture, modernizing outdated practices and implementing innovative solutions are imperative to boost productivity and reduce costs.

    A stable energy supply is critical for sustained economic growth, with 122 new major investment projects worth $50 bn set to be launched this year. However, energy consumption is expected to surge by at least 1.5 times in the coming years, necessitating greater efficiency measures across industries.

    President Mirziyoyev stressed the importance of establishing a robust legal framework and investor guarantees to attract investment. He set ambitious targets for completing the foundational processes of building a market economy by 2024 and elevating the national economy to new heights of quality by 2025.

    To facilitate the reforms, the president tasked the preparation of a comprehensive "road map" involving Uzbekistan's scientific and research institutes, emphasizing broad stakeholder engagement in the reform process.

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    14.02.2024, 02:20   Comments (0)   2452
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