Uzbekistan plans to significantly increase export volume of local industry in 2024

The head of state spoke about the need for this at a videoconference meeting held on December 18, 2023. Subsequently, new approaches were developed based on proposals from entrepreneurs and with the participation of experts.

The analysis showed that last year, exporting enterprises were provided with assistance in the amount of 665 billion soums, which made it possible to ensure exports worth $3 billion 200 million. However, in some industries and regions these funds were not used effectively. In the sectors of electrical engineering, agriculture, pharmaceuticals and jewelry, exports did not reach average levels. Industry associations did not reach 2,709 potential exporters with support.

In this regard, issues of production in the regions, industrial zones and exports are planned to be combined into a single system. It is proposed to transfer 12 sectoral and industrial associations to the Chamber of Commerce and Industry system. Through this, issues of supporting projects and exports will move from the state to the organization of self-government of entrepreneurs. As a result, it will be easier to make decisions on the requirements and requests of entrepreneurs and the problems that concern them, and the interaction between entrepreneurs will increase.

Based on the experience of developed countries, instead of an agency and funds operating in the field, a Trade Development Company will be created. It will attract qualified designers, technologists and marketers from abroad to ensure that domestic products comply with international requirements, help exporters enter new markets and promote national brands abroad. Subsidies, compensation and other types of support will be provided by this company based on the sustainability rating of entrepreneurs.

The interaction between the Chamber of Commerce and Industry and the joint stock company “Uzbekspertiza” will be strengthened. Project offices to support entrepreneurs will begin operating in each district.

The President noted that business development is one of the priorities of economic reforms and outlined his vision of tasks in the field of supporting entrepreneurs.

The importance of studying the relevance of the functions and performance criteria of associations, and improving the qualifications of their managers and employees is emphasized. The need to organize work primarily in the regions and actively involve entrepreneurs in the development of new projects and exports was pointed out.

Those in charge reported plans to increase local industry exports to $12 billion this year.