News & Events – Page 29

DEVELOPMENT STRATEGY

On February 13, President Shavkat Mirziyoyev was briefed on key strategic reforms to be implemented this year. The Uzbekistan-2030 Strategy sets the goal of increasing the country’s gross domestic product to US$160 billion and per capita income to US$4 thousand by 2030, thereby entering a number of countries with upper-middle income levels. In order to achieve this, it is necessary to consistently continue the processes of transformation in the economy, to ensure a favourable investment and business environment, and high added value in agriculture. The presentation considered reforms in 5 key areas – transport, urbanization and urban planning, development of entrepreneurship, especially small and medium enterprises, agriculture and energy. One of the key factors for economic development is the exploitation of transport opportunities. Due to the remoteness of our country from sea routes, emphasis is placed on the diversification of air and rail routes. Last year, 6 airlines were established and 28 new aircraft were purchased. The private sector has been involved in Samarkand International Airport. At the meeting, it was noted that continuing these activities is necessary to accelerate the transformation of Uzbekistan Airports and Uzbekistan Airways companies, to continue the successful practice of transferring airports to the private sector for effective management. The importance of providing high-quality Internet for the development of financial services, e-commerce, distance learning and health services in the regions was highlighted. In the next seven years, the number of cities and districts with more than 300 thousand people in our country will increase from the current 13 to 28. Due to the lack of master plans, some cities and towns are expanding only by increasing their land area. This leads to higher infrastructure costs and reduces agricultural land. There is therefore a need for a law and a policy on urbanization. In order to create a more favourable business environment, the rules for public-private partnerships in areas such as roads, drinking water, education and medicine need to be clearly defined. At the same time, a programme of such projects needs to be drawn up together with industry and regional leaders. Special attention was paid to the issue of transferring certain state functions to the private sector, including the improvement of territories and the management of free economic zones. Agriculture plays an important role in providing food and employment. However, some of its industries still have outdated approaches. Therefore, specific solutions are needed to increase yields, reduce costs and implement innovations in the sector. The Head of State, who was familiarised with the proposals in these areas, stressed the need to create a legal framework and reliable guarantees for investors. In order to sustain economic growth, a stable energy supply is essential. This year, 122 major investment projects worth US$50 billion will be launched. At the same time, the population and businesses are growing. In the coming years, energy demand will increase by at least 1.5 times. In addition, energy consumption in some industries remains high. “In 2024 we should complete all the processes of building the foundations of the market economy, and in 2025 we should bring the national economy to a completely new level of quality”, – the President said. The need to involve all research institutes of the republic in the reform process with the preparation of an extensive road map was also noted.

15. Feb 2024