Tasks to ensure stable economic growth discussed

    Uzbekistan 29 March 2024 4056

    President of the Republic of Uzbekistan Shavkat Mirziyoyev chaired a meeting on issues of sustainable development and increasing the competitiveness of economic sectors.

    Thanks to the implementation of priority areas identified by the Head of state, including measures to transform large enterprises, involve growth points in the regions and ensure population employment, economic activity in areas and industries is increasing.

    In particular, gross domestic product is expected to grow by more than 6 percent in the first quarter of this year. The expected increase in industrial production by almost 10 percent and the increase in exports to $3.5 billion due to active support for entrepreneurship and a stable supply of energy resources in winter will play a key role in this.

    At the same time, given the growing competition in the foreign market, it is necessary to complete the main processes of building the foundation of a market economy in 2024 and ensure that the economy reaches a qualitatively new level, increasing the financial independence and stability of enterprises.

    In this regard, the effectiveness of measures taken to optimize the costs of large state-owned enterprises and save energy resources was reviewed at the meeting. Taking into account the difficult situation on the world market, specific tasks have been set to increase export revenues, strengthen the solvency of enterprises, reduce accounts receivable and prevent unreasonable increases in costs.

    Particular attention was paid to the full-scale implementation of the export potential of industries and regions. Instructions were given to create favorable production and logistics chains for entrepreneurs to enter foreign markets and increase the competitiveness of products.

    The Head of state focused on the issue of price stability in the domestic market, emphasized the need to expand the localization of consumer goods, and assisted enterprises in increasing production capacity.

    The need for widespread use of industrial zones’ capabilities and cooperation to implement new investment projects and support domestic producers was noted. The importance of increased attention to the production of high-value-added products and job creation was stressed.