Uzbek Preisdent Sets Targets for Tashkent Economic Growth

Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev held a meeting focused on ensuring sustained economic growth in Tashkent, mobilizing internal resources, and improving conditions for business activity.

During the discussion, it was noted that shifts in global markets and current international conditions could affect export chains and delivery timelines. In this context, the key priority was defined as the rapid identification and utilization of additional internal economic reserves.

The capital’s special role in the national economy was emphasized, with Tashkent accounting for 21 percent of the country’s gross domestic product.

Within the framework of the declared “Year of Accelerated Development of the Capital and Income Growth of the Population,” targets were set to achieve 12 percent economic growth in the city, increase exports to US$3.6 billion, attract US$9 billion in investments, and create employment for 616,000 people.

The President stressed the need for proactive efforts by the city khokim, deputy mayors, and district leaders to offset potential slowdowns in industry, exports, investment, and tourism. It was noted that Tashkent has sufficient labor and financial resources to meet the set objectives.

Under the new approach, each of the 12 districts of the capital will be specialized in specific economic sectors.

These include chemical and cable industries, pharmaceuticals, mechanical engineering, logistics, IT, tourism, trade, education, and services.

Particular attention was paid to engagement with entrepreneurs. Over the past two weeks, meetings were held with more than 23,000 business representatives, during which over 1,300 issues were identified and 162 proposals were submitted.

It was emphasized that all raised issues must be thoroughly reviewed and resolved.

To improve the business environment, it is planned to delegate licensing and permitting powers to local authorities, introduce new export support mechanisms, and establish a system for the rapid resolution of logistics challenges.

Additional concessional financing tools are also planned to support working capital and business expansion.

A Coordination Council is proposed to be established to review entrepreneurial initiatives promptly, develop district-level specialization strategies, monitor economic conditions, and remove systemic barriers.

Overall, the task has been set to ensure additional production worth 88 trillion soums, increase exports to US$4.9 billion, attract US$5 billion in investments, generate 2.9 trillion soums in budget revenues, and create 65,500 new jobs.

As an additional measure, the issuance of Tashkent Eurobonds has been proposed to attract US$500 million this year.

A program for expanding localization and industrial cooperation linking the capital’s businesses with large enterprises in the regions is also planned.

The need for a comprehensive analysis of Tashkent’s economy and the preparation of a long-term development strategy with the involvement of international consulting companies was also emphasized.