“GDP is expected to reach $160 billion in 2030” – Jamshid Kuchkarov

On May 20, Tashkent hosted the “International Public-Private Partnership Roundtable”. Speaking at the event, Deputy PM – Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov spoke about the impact of private investment on the economy of Uzbekistan.

“The PPP program is a driver in the development of the Uzbek economy. This is very important in the era of economic growth and reforms. First of all, investments, especially private investments, are very important for us. In particular, bringing our gross domestic product to $100 billion will require investment, including private investment. The development strategy for 2022-2026 envisages the implementation of projects worth $14 billion under the PPP program,” he said.

Jamshid Kuchkarov added that a number of delayed reforms have been implemented over the past five years. At the same time, in the current difficult global situation, Uzbekistan can compete with other countries in attracting investment.

“The future of Uzbekistan offers good opportunities for investors. According to our forecasts, by 2030 the population of Uzbekistan will reach 40 million people and the GDP will reach $160 billion. GDP per capita is expected to reach $4,000. The head of our state has set a goal to achieve this result,” the Deputy PM said.

It was noted that an open dialogue process is underway with all potential partners.

Earlier, a report published by World Bank experts said that in order for Uzbekistan to join the ranks of middle-income countries by 2030, GDP growth should be much higher than the current level.

In 2021, Uzbekistan’s GDP amounted to 734.4 trillion soums, which means that the average nominal GDP at the exchange rate was $69.23 billion. GDP per capita reached $1,983.