President: 2014 to be year of Uzbekistan’s rapid development

Photo: President: 2014 to be year of Uzbekistan’s rapid development  / Finance

Tashkent, Uzbekistan, Jan. 18
By Demir Azizov - Trend:

"The main objectives and priorities of promoting the economy in 2014 are primarily dictated by the program goals of the country's long-term development, the adopted strategy ensuring the consistent high rates of the economic growth, mobilization of available resources and opportunities," Uzbek President Islam Karimov said at a meeting of the Cabinet of Ministers on Friday.

The results of the country's socio-economic development in 2013 and the priorities for 2014 were summed up at the meeting.

"The government plans to ensure the growth of gross domestic product (GDP) by 8.1 percent in 2014 compared to 2013, industrial production - by 8.3 percent, agricultural production - by six percent, retail trade turnover - by 13.9 percent, market services - by 16.2 percent with a 55 percent increase in the GDP share," the president said.

The total amount of capital investments in all sources of financing will hit $ 14.3 billion with a10.1 percent increase compared to 2013 and maintaining the share of investments in fixed assets to GDP at the 2013 level of 23 percent.

More than 73 percent of all investments will be directed to the industrial construction and about 40 percent of capital for the purchase of machinery and equipment.

It is planned to master more than $3.9 billion of foreign investments and loans in 2014 with a 29 percent increase compared to 2013. However, about 69 percent in a total amount of foreign investments will fall to the direct investments. Their amount will increase by 22.4 percent in 2014.

"On can say that 2014 will be the year of commissioning the most important high-tech and modern industrial facilities, growth and improvement of the investment process," according to the report.

It is planned to complete such projects as "Expansion of the production capacity of the Dehkanabad potash fertilizer plant from 200,000 tons to 600,000 tons", "Production of Damas passenger cars in the Khorezm region", "Production of 760,000 tons of Portland cement and 350,000 tons of white cement in Jizzak region", "Completion of the third branch of the Uzbekistan-China gas pipeline", "Modernization of Shurtan and Alan fields with the construction of a booster station" and others.

The Ustyurt gas chemical complex is being constructed on the basis of the Surgil field, the synthetic liquid fuel facilities on the basis of purified methane at the Shurtan gas chemical complex.

Several projects are being implemented in power engineering.

Among them are the projects on expanding the Talimarjan thermal power plant (TPP) with the construction of two 450 MW combined cycle units, a 370 MW combined cycle unit at the Tashkent TPP, expanding the Navoi TPP with the construction of the second combined-cycle unit with a capacity of 450 MW, commissioning of the second stage of the Kungrad soda plant, as well as the production of methanol, ammonia and carbamide at the Navoiazot enterprise and other facilities.

The president stressed that the large-scale program goals and objectives for 2014 require the mobilization of all available sources of growth, the formation of a full-fledged competitive sphere, which is a key factor in technical and technological renovation and modernization.

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