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23.08.2017 17:56

Development factor of our economy

The Committee on the issues of industry, construction and trade of the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan held a round table on “Deepening structural transformations and active diversification of industries – guarantee of stable development of our country’s economy”.

Chairman of the committee B.Niyozmatov and others noted that modernization and diversification of industries, introduction of high technologies are of great importance in the development of our country’s economy.

The Strategy of action on five priority areas of development of the Republic of Uzbekistan in 2017-2021 defined the deepening of structural transformations, increasing competitiveness through modernization and diversification of the leading sectors of the economy.

In particular, it is envisaged to implement 649 investment projects on in-depth processing of mineral resources for a total amount of about 40 billion dollars. Along with this, in 2017, production of 75 new types of competitive products was mastered as a result of commissioning of production facilities. As a result, in the next five years, industrial output in our country should increase by 1,5 times, its share in the gross domestic product will increase from 33,6 percent to 36 percent, the share of processing sectors in industry – from 80 percent to 85 percent. Reduction in the cost of production produced at large enterprises will be achieved on average by 8 percent.

At the event it was noted that in our country one of the actual tasks is the accelerated development of processing industries, including local raw materials on the basis of new technologies, expansion of production of finished products with high added value.

During the “round table”, relevant recommendations were developed on the discussed issues.

Nurillo Nasriyev, UzA
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