By Mr. Khalid Taimur Akram, Executive Director, Pakistan Research Center for a Community with Shared Future (PRCCSF), Islamabad
On February 13, 2024, Uzbekistan’s President Shavkat Mirziyoyev laid out a bold and strategic vision to transform Uzbekistan into a modern, inclusive, and sustainable economy. Central to this vision is the urgent need for rapid and effective reforms in key economic sectors.
Key Pillars of Reform
President Mirziyoyev emphasized reforms across five vital sectors:
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Transport, Urbanization, Entrepreneurship, Agriculture, Energy
These reforms support the broader “Uzbekistan 2030” strategy, which aims to raise GDP to $160 billion and increase per capita income to $4,000 by 2030.
Investing in Energy and Infrastructure
The government plans to launch 122 large-scale investment projects worth $50 billion to expand energy infrastructure. With energy demand expected to grow 1.5 times, ensuring a stable energy supply is essential.
To boost investor confidence, Uzbekistan will improve its legal framework, offering clear guarantees and encouraging the private sector by transferring select state functions to private companies.
Digital Connectivity and Urban Growth
The President underlined the importance of expanding high-speed internet access nationwide. This move is key to growing e-commerce, e-learning, digital healthcare, and financial services.
Urban development is another focus. The number of cities with populations over 300,000 will grow from 13 to 28. A legal framework will guide this growth and help preserve agricultural land from uncontrolled urban sprawl.
Strengthening Agriculture and Food Security
Agriculture plays a critical role in food security and employment. The strategy calls for innovative technologies, lower production costs, and improved productivity. It also prioritizes protecting arable land and ensuring water and energy availability to support farming.
Supporting Entrepreneurs and Public-Private Partnerships
Uzbekistan aims to create a dynamic business ecosystem. The government will support public-private partnerships (PPPs) in education, infrastructure, healthcare, and other sectors.
President Mirziyoyev stressed the need for robust collaboration with local industries and regional stakeholders. This approach will fuel long-term economic growth and enhance entrepreneurial innovation.
The Roadmap: Uzbekistan 2022–2026 and Beyond
Under the “New Uzbekistan 2022–2026” strategy, the country has already reduced poverty by half since 2017. Future goals include improving human capital, boosting social inclusion, and ensuring environmental sustainability.
The broader Uzbekistan 2030 strategy sets ambitious targets:
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Minimum 6% annual GDP growth, Investment levels at 30% of GDP, Launch of 309 major projects worth $18 billion across key sectors
This comprehensive plan focuses on renewable energy, green development, social welfare, and long-term economic resilience.
A Vision for Global Leadership
Uzbekistan is positioning itself as a key player in regional and global development. Through technology, innovation, and economic partnerships, the country is moving closer to becoming a globally recognized economy.
President Mirziyoyev’s visionary leadership is driving this transformation. His policies are fostering inclusive growth, strengthening international ties, and building a prosperous, forward-looking Uzbekistan.
