President Shavkat Mirziyoyev chaired a meeting on the stable development and competitiveness enhancement of Uzbekistan's economy. The GDP is expected to grow by over 6% in the first quarter of this year, with a focus on industrial production and export expansion. Measures to support entrepreneurship and ensure energy stability in the winter season are key factors in achieving this growth.
Amidst increasing competition in the global market, the goal is to finalize the foundation of a market economy by 2024 and elevate the economy to a new level. Enhancing financial independence and stability of enterprises is crucial for this transition.
President Mirziyoyev reviewed the effectiveness of cost optimization at large state-owned enterprises and energy resource conservation. Tasks were set to boost export earnings, strengthen the solvency of enterprises, reduce accounts receivable, and prevent unjustified cost increases. Creating favorable production and logistics chains for businesses to access external markets and improving product competitiveness are also priorities.
Stability in domestic market prices and expanding the localization of consumer goods were highlighted by the President to help enterprises increase production capacities. Earlier in January, President Mirziyoyev emphasized that 2024 will be a year of efficiency and cost reduction for economic leaders and state enterprises in Uzbekistan. The goal is to achieve a minimum 6% economic growth and reduce production costs in major sectors by 20 trillion Uzbek soums.
