Uzbekistan keen on boosting industrial production output 1.5 times

Uzbekistan keen on boosting industrial production output 1.5 times
16:57 6 Aprel 2015
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Tashkent, Uzbekistan, Apr. 6

By Demir Azizov – Trend:

Uzbekistan intends to increase by 2020 the manufacture of industrial products by 1.5 times as compared to 2014, bringing the industry’s share in the GDP to 27 percent versus the current 24.4 percent, read a program of measures, approved by a decree of Uzbekistan’s president, Islam Karimov.

The program stipulates ensuring the structural reforms, modernization and diversification of production in 2015-2019.

According to the program, it is planned to achieve these indicators through realization of 846 investment projects for construction, modernization, technical and technological renewal of plants with a total cost of $40.809 billion, including 711 developed projects worth $19.64 billion, and 135 promising projects worth $21.17 billion.

In particular, the modernization of the existing power generating facilities and the establishment of new ones must increase the electricity production by 1.2 times - up to 68.7 million kilowatt / hours. This will be conducted by commissioning the resource-saving combined-cycle units and introducing the advanced technologies for using the solar energy.

The program envisages the development of such high-tech industries as mechanical engineering, oil and gas, petrochemical, chemical, textile and food by increasing their share in the industry from 62 percent (in 2014) to 67 percent (in 2020).

In total, some 124 investment projects on technological renewal of production and 48 new promising investment projects are planned to be implemented in geology, fuel-energy complex, chemical, petrochemical and metallurgical industries. It is also planned to use the production of around 100 new product groups.

As a result, the annual production and export potential of Uzbekistan’s industry will increase by 18 trillion soums and $2 billion, respectively by 2020.

The official exchange rate on Apr.6 is 2490.20 soums/$1.

It is planned to finance the program from the state budget, with the own funds of the enterprises, Uzbekistan’s Fund for Reconstruction and Development, loans from local banks, as well as foreign investments and loans.

It was earlier reported that Uzbekistan’s GDP increased by 8.1 percent, while the industrial production saw 8.3-percent increase in 2014.

Uzbekistan’s government intends to increase the GDP by 8 percent, industrial production – 8.3 percent and the volume of capital investments – 9.6 percent in 2015.

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