Presidential Meeting on Priority Objectives in Investment, Export, and Industry for 2024
Tashkent, The Gulf Observer: President Shavkat Mirziyoyev, Thursday chaired a crucial meeting to discuss priority objectives in investment, export, and industry for the year 2024. The Uzbekistan 2030 Strategy aims to elevate the country’s gross domestic product to US$160 billion and per capita income to US$4 thousand, emphasizing the need for increased foreign investment and active export promotion.
During the meeting, the President reviewed the current state of affairs and the performance of responsible individuals in these vital areas. While Uzbekistan has attracted nearly US$50 billion in foreign investment over the past six years, challenges in export growth were acknowledged. Notably, the President highlighted that a thousand projects in the regions, with resolved financing issues, have yet to be initiated.
As a result of identified shortcomings and negligence, Deputy Minister of Investment, Trade, and Industry B. Abidov, Director of the Agency for Technical Regulation D. Sattarov, and Director of the Agency for Attracting Foreign Investments M. Mirzayev were dismissed from their positions. Other managers will face disciplinary actions.
To address these challenges and set a clear path for the future, the President announced structural changes and the introduction of performance indicators (KPI) for all deputy ministers and hokims involved in the investment complex.
Key Decisions and Initiatives:
- Export Promotion: The President emphasized the need to increase exports by at least 30 percent annually. Structural changes will include a revamp of the plant quarantine system and the creation of the Agency of Plant Protection and Quarantine. This agency will focus on finding new potential markets, organizing export product cultivation, and providing training for manufacturers and exporters.
- Export Control: Export control functions will be transferred to the Customs Committee, streamlining the process for exporters. The Technical Regulation Agency will undergo reforms to ensure the implementation of international standards in key economic sectors.
- Export Support: The Export Promotion Agency will transform into a trade promotion company, aligning with World Trade Organization requirements. Support, subsidies, loans, and assistance will be provided based on a new rating system, prioritizing high-value-added products entering new markets.
- Investment Review: The meeting discussed the effectiveness of investments and plans for the future. The Ministry of Investment, Industry, and Trade is tasked with accelerating the implementation of projects in various sectors.
- Industrial Production: A new experiment on developing economic zones will be initiated, outsourcing 240 hectares of land to foreign companies in Bukhara, Navoi, and Tashkent regions. This move is expected to attract investment, create jobs, and utilize existing infrastructure.
- Localization: The government will adopt a program to develop the region’s food industry, emphasizing the production of 25 types of food products in demand and the introduction of international standards for food enterprises. Opportunities for localization in the leather industry were also highlighted.
In his closing remarks, President Shavkat Mirziyoyev stressed the importance of selfless work, love for the country and its people, and the conscientious fulfillment of assigned tasks by every leader.
Following the meeting, heads of the investment complex, ministers, and hokims presented their plans for the current year, aligning with the outlined priorities. The government is committed to achieving the set goals and driving Uzbekistan’s economy to new heights.
