Since the beginning of the year, Uzbekistan’s economy has grown by 8.5%. Industrial output increased by 8%, services by 16.9%, construction by 13.8%, and agriculture by 4.7%. Investment reached $28 billion, while exports totaled $14.4 billion. International rating agencies Fitch and Moody’s upgraded Uzbekistan’s sovereign credit rating.
It was noted that economic growth of 9–10% is needed to further improve the quality of life for the country’s population of 40 million. Leaders of sectors and regions were instructed to fully mobilize available reserves, ensure the implementation of every project, and improve enterprise performance.
Special attention will be given to the development of mahallas. A “forty-day intensive campaign” has been declared in the 2,000 most challenging mahallas. Regional and district governors will bear personal responsibility for the timely resolution of issues related to electricity, gas and water supply, road repairs, employment, and business support. Employment agencies will organize targeted training in high-demand professions, facilitate job placement, and help raise household incomes.
The meeting also reviewed measures to improve the business environment. Fifty-one ministries and agencies are authorized to impose financial sanctions in 322 areas, while the total amount of fines imposed in 2024–2026 reached nearly 3 trillion sums. A task was set to reduce excessive bureaucratic procedures, fines, payments, and fees, while introducing an approach focused on assisting and guiding entrepreneurs.
The participants also discussed improving the efficiency of strategic enterprises, reducing production costs, and cutting losses in the energy sector. Instructions were issued to improve the distribution of electricity and natural gas, increase the market value of major companies, accelerate their preparation for IPOs, and strengthen their investment appeal.
Measures were outlined to restore the operations of idle enterprises. In the textile sector, unused production capacity is resulting in lost opportunities to produce goods worth 5 trillion sums and generate $400 million in exports. Responsible officials were instructed to analyze the situation at each non-operating enterprise and take steps to resume production.
Under the new privatization program, real estate assets, land plots, and state-owned stakes with a total value of 100 trillion sums will be offered for sale. More favorable payment terms will be introduced for entrepreneurs purchasing state assets.
The meeting also emphasized the need to expand exports. Over the past three years, 509 export-oriented production facilities worth $11 billion have been commissioned, but 208 of them have not yet entered foreign markets. Exporting even 30–40% of their output could generate an additional $1.5–2 billion in foreign exchange earnings. Rapid-response teams will be formed to support enterprises and special economic zones with certification, working capital, market access, and logistics.
An отдельная program will be developed to promote national brands abroad and protect them from dumping and counterfeit products. Measures will also be taken to develop railway infrastructure, attract additional rolling stock, and secure $200 million in financing from the World Bank.
In the area of food security, tasks were set to support livestock farming and build reserves of fruit, vegetables, and potatoes. By the end of the year, Uzbekistan plans to import 100,000 head of cattle and 150,000 sheep and goats, as well as commission 340 cold-storage facilities with a total capacity of 87,000 tons.
Given the continuing uncertainty in the global economy, evidence-based proposals will be prepared by August 15 jointly with the think tanks assigned to sectors and regions. They will cover the entire chain of “resources — infrastructure — projects — production — budget revenues — exports.” Based on these proposals, macroeconomic parameters, the budget, and investment and export programs for 2027 will be developed under a mobilization scenario.
Izoh qoldirish