Since the beginning of the year, Uzbekistan’s economy has grown by 8.5 percent. Industry grew by 8 percent, services by 16.9 percent, construction by 13.8 percent, and agriculture by 4.7 percent. Investments reached $28 billion, and exports totaled $14.4 billion. International rating agencies Fitch and Moody’s each upgraded Uzbekistan’s sovereign credit rating.

At the same time, the President stressed that achieving 9-10 percent economic growth is essential to improving the living standards of the country’s 40 million people. He noted that this requires the heads of regions and industries to fully utilize existing opportunities and deliver tangible results for every project and every enterprise.

The meeting critically reviewed the implementation of the six-month plans for the heads of regions and industries. It was noted that in some regions, opportunities to increase gross regional product, construction volumes, investment, industrial output, and exports had not been fully utilized. Measures were taken to strengthen the accountability of officials who failed to fulfill their monthly, quarterly, and annual plans.

The Head of State noted that unless the work of every minister and hokim is reflected in the daily lives of the people and makes life easier for entrepreneurs, any achievements will remain merely “numbers on paper”. In this regard, a fundamentally new approach will be used to organize local-levelwork to develop infrastructure, create jobs, support entrepreneurship, and increase household incomes.

At the meeting, particular attention was paid to reorganizing the activities of the “mahalla of seven” on a new basis. A 40-day intensive campaign has been launched in this area, and work has begun to introduce the new system in 2,000 mahallas facing difficult conditions. Hokims will bear personal responsibility for promptly resolving issues related to electricity, gas, roads, and water supply in these mahallas.

Employment agencies will conduct targeted work across all regions to provide training for citizens in need, help them secure employment, and increase their incomes. It was decided to review the performance of banks and the regional directorates of the Mahalla Association. The next three months will serve as a practical assessment period for their work. Specific tasks were set to improve and maintain mahallas and enhance the population’s living standards.

The meeting also discussed support for entrepreneurship and measures to improve the business environment. It was noted that 51 ministries and agencies are authorized to impose financial sanctions across 322 areas, and the total fines imposed in 2024-2026 reached nearly 3 trillion UZS. The President stressed that regulatory authorities should first and foremost allow entrepreneurs to address shortcomings and guide them in the right direction.

It was noted that, amid growing competition in foreign markets, it was necessary to reduce payments, fees, and unnecessary costs for exporters. All ministries and agencies were instructed to submit proposals to streamline bureaucratic procedures and reduce fines, payments, and fees within their respective systems, and to improve the business environment.

The Head of State also critically reviewed industrial production and export performance. He noted that industrial growth had slowed in several districts and cities and that the expected results in the export sector had not been achieved. The Prime Minister was instructed to review the performance of hokims who had failed to deliver results and, if no positive changes were achieved by the end of the first nine months, to take strict measures against the responsible officials.

It was noted that an analysis of the costs of strategic enterprises had revealed rising production costs at several companies. Significant losses in the energy sector were also noted, along with the need to improve the efficiency of electricity and natural gas distribution. Tasks were set to increase the market value of major companies, prepare them for initial public offerings (IPOs), and enhance their investment attractiveness.

Although tax revenues have increased by 27 percent since the beginning of the year, exceeding 130 trillion UZS, the failure to properly implement the annual plan to secure additional revenues was criticized.

The meeting also defined priorities for the restoration and privatization of production facilities. It was noted that the current downtime at several textile enterprises is resulting in the loss of opportunities to produce goods worth 5 trillion UZS and generate $400 million in exports. The decline in production by 11 trillion UZS at 57 sectoral and 76 territorial enterprises since the beginning of the year was also criticized.

Responsible officials were instructed to conduct a detailed analysis of each non-operational enterprise’s operations and to restore those operations. In addition, under a new privatization program, real estate properties, land plots, and state shareholdings valued at 100 trillion UZS will be put up for auction, and payment terms for entrepreneurs acquiring state assets will be eased.

Despite the commissioning of 509 export-oriented production facilities valued at $11 billion over the past three years, 208 of them have yet to enter foreign markets. It was noted that if just 30-40 percent of these enterprises’ output were exported, they could generate an additional $1.5-2 billion in export earnings.

The fact that 29 of the country’s 47 special economic zones have not made a single export since the beginning of the year was also criticized. Responsible officials were instructed to establish operational teams and expedite the resolution of issues related to certification, the provision of working capital, market development, and logistics at enterprises and economic zones that have not yet started exporting.

Tasks to support national brands were also defined. Over the past two years, 15.5 billion UZS in financial assistance have been allocated for this purpose. However, it was noted that one-third of domestic enterprises that have registered their own brands have not yet entered foreign markets. In this regard, a program will be developed to promote national brands in foreign markets and protect them from dumping and counterfeit products.

It was noted that 70 percent of foreign trade cargo is transported by rail, yet this sector receives the most complaints from entrepreneurs. Logistical difficulties arise from a shortage of freight cars and congestion on certain railway lines. Responsible officials were instructed to increase the availability of rolling stock and to reach an agreement with the World Bank to secure $200 million for railway infrastructure development.

The progress in implementing agreements reached during high-level visits was also reviewed. In recent years, 52 such visits have led to agreements to implement 1,617 investment projects worth a total of $213 billion. Going forward, the implementation of these roadmaps will be under the strict supervision of the Chamber of Accounts and the Ministry of Foreign Affairs.

The Prime Minister was instructed to hold weekly discussions with industry leaders, hokims, and ambassadors on the progress of project implementation by country. The Presidential Administration was tasked with reviewing the activities of diplomatic missions in economic diplomacy, investment attraction, and export development, and recommending young, forward-thinking personnel to replace leaders who are failing to fulfill their duties.

The meeting also addressed measures to curb inflation and ensure food security. It was noted that despite the commitments previously made by regional hokims to keep inflation at no more than 3 percent during January-June, this target was not met in most regions. It was reported that, due to rising meat prices, 300 billion UZS have been allocated to cover the costs of air transportation for imported meat.

The Head of State emphasized that the agricultural census results have provided an objective picture of the livestock sector’s condition. Additional financial resources will be allocated to support livestock projects. The task has been set to import 100,000 head of cattle and 150,000 head of sheep and goats by the end of the year.

Specific measures were also identified to increase stocks of fruits, vegetables, and potatoes, expand cold storage capacity, and replenish food reserves. By the end of the year, the goal is to commission 340 cold storage facilities with a total capacity of 87,000 tons.

The Head of State emphasized that no one can predict how long the uncertainty in the global economy will persist. He noted that a slowdown in economic activity in major partner countries could affect the operations of domestic enterprises, particularly exporters.

In this regard, he stressed that all leaders must be prepared to mobilize available reserves while taking into account all possible risks. Together with the think tanks assigned to industries and regions, scientifically grounded proposals will be prepared by August 15.

These proposals will focus on the comprehensive development of the entire “resource – infrastructure – project – production – budget revenue – export” chain. Macroeconomic parameters, the budget, and investment and export programs for 2027 will be developed using a new mobilization scenario approach.

During the meeting, ministers, industry leaders, and hokims shared reports and detailed their plans for executing the assigned tasks locally.