BAKU, Azerbaijan, Sept. 5
By Klavdiya Romakayeva - Trend:
Uzbek Electrotechnical Industry achieved the set goals and met the forecast indicators for expanding production and attracting foreign direct investment, Trend reports referring to nuz.uz national information agency in Uzbekistan.
The Association has more than 85 members, of them 15 are manufacturers of cable and wire products, 35 are manufacturers of household appliances and the remaining 35 are manufacturers of other electrical products. The industry employs over 22,000 people.
The volume of industrial production in January-July 2020 amounted to 6,119 billion soums ($603 million) in current prices, which amounted to 14.4 percent to the forecast of the period. The growth rate of industrial production compared to the corresponding period of 2019 (in comparable prices) with a forecast parameter of 10 percent was 16.5 percent.
Products export in January-July 2020 amounted to $142.8 million, or 23.6 percent compared to the corresponding period of 2019.
Within the framework of the decree of the President of Uzbekistan 22 projects are being implemented at 13 enterprises through the Uzeltekhsanoat Association.
The forecast volume of development for January-July 2020 was $56.5 million, the actual volume of development amounted to $67.6 million, or 94.2 percent compared to the corresponding period of 2019.
According to experts, the electrical industry, including the electronic one, can become a catalyst for economic growth in Uzbekistan. The result will depend on the correctly chosen development model.
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