"We will reduce the poverty rate to 6% in the coming years" – Shavkat Mirziyoyev

On December 20, Shavkat Mirziyoyev chaired a videoconference meeting dedicated to supporting entrepreneurship in 2024 and plans for 2025.

Hotels

This year, entrepreneurs invested 6.5 trillion UZS to build hotels with 24,000 beds. Next year, the number of beds is expected to increase to 30,000, with investments reaching 10 trillion UZS.

Seventeen large trade and tourism centers were opened this year, with an additional 25 such complexes planned for next year.

According to the president, Uzbekistan will open hotels under 23 renowned international brands, including Swissôtel, Sheraton, Ritz-Carlton, Novotel, Pullman, Marriott, ibis, and Mercure.

Exports and infrastructure

A special company was established to support trade, and $350 million was allocated to finance exports. As a result, entrepreneurs exported $6 worth of products for every $1 invested. An additional $300 million will be allocated next year.

Entrepreneurs purchased 3,000 state-owned properties and 4,000 hectares of land for 11.5 trillion UZS this year to start new business activities. By 2025, they will be offered another 4,500 properties and 6,000 hectares of land.

Private sector involvement in repairing and maintaining roads, previously monopolized by the state, will be expanded. Entrepreneurs were tasked with repairing 260 kilometers of roads this year, and this figure will rise to 3,000 kilometers next year.

Under the "Participatory Budgeting" program, 92% of road repairs were carried out by private contractors. This rate will increase to 100%. Additionally, in cooperation with the Asian Development Bank, 841 kilometers of roads will be built in 86 districts, with all work being done by local contractors.

Taxes

To maintain a favorable business environment, the president emphasized that a stable tax policy will continue into 2025.

Despite the need to fund "vital expenditures," the main tax rates will remain unchanged. Starting January 1, state-owned property and land will be sold without VAT, and the excise tax on mobile communications (10%) will be abolished. This measure was initially planned for 2023.

The double-rate land tax on agricultural lands within settlements will also be abolished. Furthermore, publishing companies will be exempt from income tax for five years.

Tax exemptions for IT park residents have been extended until 2040, while tax benefits for private schools, kindergartens, and foreign teachers and specialists will remain in place until 2030.

Reopening borders

This year, several border checkpoints were reopened, including "Khanabad," "Mingtepa," and "Kara-Suu" in Andijan, which had been closed for 13 years, and the "Uchkurgan" checkpoint, inactive for 8 years. These changes reduced travel distances for residents and entrepreneurs by up to 100 kilometers.

Over the past 11 months, the number of vehicles crossing borders increased by 400,000, reaching 3 million. Next year, additional lanes will be constructed at the "Gisht-kuprik," "Navoi," "Davut-ota," "Shovot," and "Gulbahor" checkpoints, increasing their capacity fivefold.

Poverty reduction

Despite a complex geopolitical environment, Uzbekistan’s economy grew by 6.3% this year, reaching $111 billion, President Mirziyoyev reported. Investments totaling $38 billion were attracted to the industrial, agricultural, and service sectors, while export volumes exceeded $26 billion.

During an open dialogue, many entrepreneurs expressed their willingness to take on social responsibilities and provide jobs for those in need. Entrepreneurs helped 387,000 members of low-income families and 40,000 individuals with disabilities gain income-generating opportunities in a short period, according to the president.

He stated that by the end of the year, the poverty rate in the country would drop to 9%.

"I am confident that if we continue this partnership based on mutual trust, we can confidently reduce this figure to 6% in the coming years. I sincerely thank all our entrepreneurs who have kept their promises by creating thousands of jobs, introducing modern technologies, entering new foreign markets, and contributing significantly to the stable growth of our economy," the president said.