Uzbekistan seeks to ensure GDP’s growth through economic modernization
Uzbekistan is intended to provide an average annual GDP’s growth
of eight percent through the implementation of economic
modernization programs in 2015-2020 years, the representative of
country’s Economy Ministry told Trend.
The official reminded that at the beginning of the last year
President of Uzbekistan Islam Karimov approved the “Program of
measures for structural reforms, modernization and diversification
of production for 2015-2019”.
The program provides for the implementation of 846 investment
projects for the construction, modernization, technical and
technological renewal of production with a total value of 40.809
billion dollars, including 711 developed projects worth $19.64
billion and 135 promising projects worth $21.17 billion.
In particular, the modernization of existing and creation of new
power generating facilities should ensure the electricity
production’s growth by 1.2 times - up to 68.7 million
kilowatt/hours due to the introduction of resource-saving
combined-cycle plants and advanced technologies for the use of
solar energy.
The program is planned to develop high-tech industries such as
mechanical engineering, oil and gas, petrochemical, chemical,
textile and food, increasing their share in the industry from 62
percent in 2014 to 67 percent in 2020.
We have already begun to implement medium-term projects aimed at
diversifying the economy by organizing the goods production with
high added value, said the official.
Among the projects are completed construction of Ustyurt gas
chemical complex to produce polyethylene and polypropylene,
construction of plant for production of synthetic fuels in
Kashkadarya region, chemical complex for production of olefins,
pyrolysis gasoline plant, expanding the model range in the
automotive industry, etc.
The government estimates that implementation of the planned
programs will provide up to nine percent average annual growth of
industrial production until 2021, while the share of industrial
sector in GDP should increase up to 30 percent compared to 24
percent in 2014.
Uzbekistan's GDP grew by 8.1 percent, industrial production - by
8.3 percent in 2014, according to the country’s State Statistics
Committee.
Uzbek government planned GDP’s growth by 8 percent, industrial
production - by 8.3 percent, the volume of capital investments - by
9.6 percent in 2015.
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