Tashkent, Uzbekistan (UzDaily.com) -- Under the leadership of Deputy Prime Minister of the Republic of Uzbekistan Sardor Umurzakov and with the participation of the management of Uzkimyosanoat JSC, as well as relevant ministries, departments and a number of commercial banks, the current state and topical issues were discussed further development of the chemical industry.

A critical assessment was given of the ongoing work on radical reform of the industry, diversification of production and exports, taking into account the current situation on the world market. It was noted that at present, 76 percent of the volume of chemical products produced is mineral fertilizers. At the same time, according to a study carried out jointly with the International Finance Corporation and the Boston Consulting Group, an emphasis on the production of chemical products with high added value will allow achieving a significantly greater economic effect compared to further investment in enterprises for the production of mineral fertilizers.

In this regard, the need was noted for a radical revision of investment projects in this industry and the development of new proposals for the creation of high-tech enterprises that produce products in demand on the domestic and foreign markets.

Following the discussion, the heads of the relevant ministries and departments were given targeted instructions to ensure control over the timely implementation of projects that are planned to be launched by the end of 2020, optimize the investment program of the chemical industry based on the criteria of priority, profitability, energy efficiency and economic efficiency and make specific proposals for creating clusters chemical plants with high export potential.

The implementation of these measures will make it possible to more effectively use the potential of the chemical industry by diversifying production and exports, increasing added value and creating new jobs.