Uzbekistan is speeding up the privatization of state banks, aiming to increase the private sector's share in the banking system and introducing Islamic finance principles with international cooperation. Discussions are underway to expedite the sale of state shares in major state banks and a new privatization program is expected to be approved soon.
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The World Bank projects Uzbekistan's economy to grow by 6% in 2023, with investments, private consumption, and exports driving the increase, while inflation hits a seven-year low in December 2023.
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Electric car dealers in Uzbekistan appeal to President Mirziyoyev to lift restrictions on importing electric cars, highlighting potential job losses and bankruptcy risks.
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The BYD automotive plant in Uzbekistan is set to open in June, with plans to produce 50,000 electric and hybrid vehicles per year through a joint venture with Uzavtosanoat.
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The car market in Uzbekistan for 2023 reached 456.3 thousand units, with UzAuto Motors dominating with 81% market share. ADM Jizzakh plans to increase production to 60 thousand units to compete with imports.
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The Ministry of Defense of Uzbekistan is organizing the first defense industry exhibition "Techfest-2024" in Tashkent, featuring dual-use goods and competitions in modern technologies.
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President Mirziyoyev launched new industrial and energy projects in Djizak region, contributing to the country's economic growth and renewable energy sector.
in Economy / Uzbekistan,
President Mirziyoyev visited the ADM Jizzakh car plant in Uzbekistan, emphasizing localization and cooperation with industrial enterprises.
in Economy / Uzbekistan,
Uzbekistan's official reserve assets increase by 6.2% to $34.19 billion, with a surge in gold prices contributing to the rise.
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The strategic priority in Uzbekistan's 2024 reforms is to ensure macroeconomic stability and improve the well-being of the population.
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