By 2021 Uzbekistan is going to provide 8% GDP growth due to economy modernization

Date: 07:52, 11-01-2016.

Almaty. January 11. Silkroadnews – Within 2015-2020 Uzbekistan plans to ensure GDP annual average growth at the rate of 8% based on economy modernization programs implemented, UzTAG reports.
“We have already started to implement the medium-term projects aimed to diversify the economy through production of goods with high added value”, the representative of the Ministry of Economy of Uzbekistan said.
Among the projects in focus the official     highlighted the completed construction of Ustyurt gas chemical complex to produce polyethylene and polypropylene, synthetic fuels plant under construction in Kashkadarya region, chemical complex for the production of olefins, pyrolysis gasoline plant, expanding the model range in the automotive industry, etc.  
According to government estimates, the planned programs implementation shall provide for 9% annual average growth rate of industrial production up to 2021, while the share of industrial sector within GDP should increase to 30% versus 24% in 2014.
The official also noted that early last year Islam Karimov, President of Uzbekistan, approved the “Program of measures on structural reforms, modernization and diversification of production for 2015-2019”.
The program provides for the implementation of 846 investment projects for the construction, modernization, technical and technological renewal of production with a total value of 40.809 billion dollars, including 711 developed projects worth $19.64 billion and 135 promising projects worth $21.17 billion.
In particular, the modernization of existing and building of new power generating facilities shall ensure the electricity production’s growth by 1.2 times - up to 68.7 million kilowatt/hours due to the introduction of resource-saving combined-cycle plants and advanced technologies for the use of solar energy.

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