President of Uzbekistan Shavkat Mirziyoyev has outlined ambitious economic reforms during a meeting of the Legislative Chamber, emphasizing the need to increase the private sector's share in the national economy to 85% within the next five years. Speaking at the session, which focused on the approval of the prime minister's candidacy, the president highlighted the urgency of reducing state involvement in various sectors and fostering private investment.
Privatization and Economic Goals
To achieve the goal of expanding the private sector, President Mirziyoyev proposed a series of measures, including:
- Selling state shares in 2,000 enterprises.
- Privatizing over 5,000 real estate properties.
- Launching IPOs for 16 major state-owned enterprises.
Additionally, the president stressed the importance of implementing public-private partnership (PPP) projects worth $30bn. These efforts aim to attract foreign and domestic investors, modernize industries, and stimulate economic growth.
“Expanding the private sector is crucial for the sustainable development of Uzbekistan’s economy,” the president stated, emphasizing the need for structural reforms and transparent mechanisms to ensure the success of these initiatives.
During the session, President Mirziyoyev submitted the candidacy of the current Prime Minister, Abdulla Nigmatovich Aripov, for approval by Parliament. Born in 1961, Aripov has held the position since December 2016 and is credited with overseeing several key government programs.
Following a secret ballot, the legislative chamber approved Aripov's nomination for a new term. The president expressed confidence in the prime minister’s ability to lead the government through challenging times, noting the increasing responsibilities on the executive branch.
“In today’s difficult conditions, the government and its leader bear unprecedented responsibility for implementing strategic and current tasks. Our people expect concrete results from the new government,” President Mirziyoyev remarked.
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