TASHKENT, Uzbekistan, March 30. Uzbekistan expects increased industrial production to drive the GDP growth in the first quarter of 2024, Trend reports.
As such, the country expects GDP to grow by over 6 percent, driven by an anticipated nearly 10 percent increase in industrial production and boosting exports to $3.5 billion through active support for entrepreneurship and ensuring stable energy supply during the winter season.
During a government meeting, President Shavkat Mirziyoyev called for a rapid completion of foundational processes of building a market economy by 2024, which includes elevating the economy to a qualitatively new level and enhancing the financial independence and stability of enterprises.
To address these challenges, the Uzbek government assessed the effectiveness of measures aimed at optimizing the expenses of major state enterprises and conserving energy resources. Specific objectives have been outlined to increase export revenues, bolster the financial health of enterprises, reduce accounts receivable, and prevent unjustified cost escalation. Special emphasis was placed on the comprehensive realization of the export potential of various sectors and regions.
President Mirziyoyev instructed the government to create favorable production and logistics chains for entrepreneurs to access foreign markets and enhance the competitiveness of their products.
According to the latest statistics, the number of newly established enterprises and organizations in Uzbekistan amounted to 6,160 in January 2024. As of February 1, 2024, Uzbekistan has 14,199 enterprises and organizations with foreign assets.
