Uzbekistan develops long-term programme for developing industries of economy

BUSINESS 02 July 2016 654

 Currently, Uzbekistan develops long-term programmes for developing industries of economy till 2030, head of department of the Ministry of Economy of Uzbekistan Otabek Sharipov said.
He said that the programme envisages speeding up development of processing industry, based on realization of investment projects on deepening 3-4 stage processing of raw materials and production of ready products with high added value.

Sharipov said that Uzbekistan has all necessary prerequisites to increase production of petrochemical and chemical products and launch production of complex polymers, olefins, synthetic rubber, synthetic fiber, aromatic hydrocarbons and other high-tech products, complex mineral fertilizers, as well as a wide range of chemical products by three times.

The Uzbek official said that there are real opportunities to increase the volume of production in machinery and electrotechnical sphere by 3.7 times, pharmaceutical products – almost 10 times, food products – 5 times, construction materials – 4 times.

He underlined that execution of these programmes will open wide perspectives for joint investment cooperation between companies and other countries in realization of several investment projects.

He said that Uzbekistan will continue to focus on improving key industries, which serve to development of economy of Uzbekistan to achieve the main goal – to increase gross domestic product (GDP) by at least twofold by 2030. In the result, the share of industry in GDP will reach 40%.

Otabek Sharipov recalled that Uzbekistan adopted a programme of measures on ensuring structural reforms, modernizing and diversifying production for 2015-2019. The programme envisages 846 new investment projects with the cost of over US$40 billion.

In particular, it is planned to realize 70 projects for US$25 billion in petrochemical and chemical industry, 30 projects for US$9 billion in electricity industry, 150 projects for US$1 billion in textile and leather-footwear industry, over 300 projects for US$410 million in food industry, over 40 projects for US$270 million in electrotechnical industry and other sectors.

Source:  Uzdaily.com

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