“Uzbekistan–2030” Strategy: Priorities for the Country’s Sustainable Economic Development

Tashkent, Uzbekistan (UzDaily.com) — A meeting of the Senate Committee of the Oliy Majlis on Budget and Economic Affairs discussed the role of the “Uzbekistan–2030” Strategy in ensuring the country’s sustainable economic development.

The event, attended by senators, experts, and representatives of the media, reviewed the key objectives of the Strategy’s economic pillar, including industrial modernization and efficiency enhancement, expansion of the services sector, and accelerated development of the digital economy.

Particular attention was paid to issues of sustainable economic growth, improving living standards, and building a competitive national economic system. It was emphasized that economic development is a fundamental factor in increasing citizens’ incomes, while economic modernization remains one of the Strategy’s core priorities.

Speakers highlighted the importance of further improving the investment climate, creating favorable conditions for domestic and foreign investors, and increasing the share of the private sector in the economy. Special emphasis was placed on job creation through support for small and medium-sized enterprises.

The discussion also addressed the expansion of export-oriented production, the effective use of regional economic potential, and ensuring employment across the population.

To strengthen applied research in the most dynamically developing sectors of the economy, a cluster-based system linking enterprises, higher education institutions, and research organizations is being introduced.

Under the Strategy, it is planned to increase the number of research projects financed from the State Budget to 1,600 by 2030 and to launch the production of 850 types of innovative products in key “driver” sectors of the economy.

In addition, the Strategy envisions reducing the unemployment rate to 4 percent by ensuring employment for the working-age population, including youth and persons with disabilities, doubling the size of the economy by 2030, and entering the group of upper-middle-income countries.

To ensure fiscal sustainability and effective management of public obligations, plans include reducing the share of the informal economy in gross domestic product to 23 percent and keeping the consolidated budget deficit at no more than 3 percent.

The discussion underscored the need to ensure openness, transparency, and active public participation in the implementation of the Strategy. It was noted that the planned economic reforms are aimed at increasing household incomes, reducing poverty, and promoting comprehensive regional development.

The meeting concluded that the implementation of the “Uzbekistan–2030” Strategy will contribute to the country’s development as an economically stable, innovative, and competitive state.