This year, foreign investments of $50 billion are expected to be attracted to the country's economy. The President emphasized that new projects should contribute to the production of export products with high added value, effective resource utilization, and the creation of profitable jobs.
Officials must pay special attention to agreements reached during the head of state's foreign trips. In particular, this year Uzbekistan signed agreements on joint business initiatives with Turkey worth $9 billion and with Pakistan for nearly $1.5 billion.
Monitoring the implementation of projects is crucial not only at the launch stage but also during the execution process. To this end, a platform for "Unified National Project Management" will be created, which will allow tracking each initiative from the investment program for three years after its commencement.
The President noted that according to an analysis by Franklin Templeton, which manages the National Investment Fund, there is significant unrealized potential in strengthening corporate culture, improving logistics, digitalization, and enhancing energy efficiency. In this regard, the heads of 19 strategic enterprises were instructed to take measures to address these gaps and reduce production costs by 10-15%.
Special attention is also being paid to energy efficiency issues. It is necessary to develop a three-year program and implement it in small and medium-sized enterprises. This year, it is planned to save 100 million cubic meters of gas and 500 million kilowatt-hours of electricity. Additionally, as noted by regulatory authorities, 917 thousand streetlights across the country consume a significant amount of resources, with some remaining on even during the day. In this regard, it is planned to equip the lights with solar panels, batteries, and sensors that will automatically adjust their operation based on the level of illumination.
The President also touched upon the topic of public procurement. Although the share of local products in the overall system has reached 68%, in some structures this figure does not exceed 40%. This particularly concerns the Almalyk Mining and Metallurgical Complex, the companies "Uztransgaz," Uzbekistan Airways, and others. The head of the republic emphasized that the management of these organizations needs to rid themselves of outdated notions that "foreign is always better in quality."
Despite the fact that over three years, industry in Uzbekistan has grown by 21%, in several districts the growth has been less than 10%. In this regard, the president instructed to approve plans for industrial growth at a level of at least 8.5% for districts and regions, as well as to evaluate the performance of local officials based on identified problems and their solutions.
According to the president, in January, annual inflation was 7.2%, which is largely related to rising food prices, especially for meat. In this regard, the Ministry of Economy received instructions to timely identify risks, continuously analyze markets, and form demand forecasts for key types of food products.
Discussing the economic situation as a whole, Mirziyoyev noted that by the end of 2025, Uzbekistan's gross domestic product will grow by 7.7% and reach $147 billion. This year, a growth of 6.6% is projected, reaching $167 billion. These expectations take into account the current geopolitical situation and external economic volatility.
