The second day of the media campaign, announced by the Development Strategy Center to raise awareness of the State Program in the Year of Science, Education and Digital Economy, highlighted the issues of economic development and active investment raising.
The event was organized by the Ministry of Finance of the Republic of Uzbekistan and the World Bank.
The event is aimed at raising awareness of the public and the international community about the progress of ongoing economic reforms, the implementation of the goals and objectives through analytical discussion of the measures stipulated by the State Program 2020, draft laws and other regulatory legal acts; study of proposals and recommendations of domestic and foreign experts, specialists, NGOs, representatives of the public; adoption of advanced foreign practices, international standards, assessments, opinions of international organizations and experts; development of proposals and recommendations on additional measures to ensure high-quality and timely implementation of the assigned tasks, and their submission to the relevant government agencies.
Opening the international videoconference, Executive Director of the Development Strategy Center Eldor Tulyakov noted that a significant part of the State Program 2020, namely 96 paragraphs out of 284 paragraphs, covers priority areas of economic development and active investment raising. In January-June, Uzbekistan adopted more than 15 regulatory and legal acts in this area.
“The global community has faced a global economic crisis due to the COVID-19 pandemic in 2020, and all countries have been forced to take measures to mitigate this crisis and its consequences. For this purpose, since March, the head of Uzbekistan has approved about 20 resolutions and decrees. The documents have triggered a number of measures to step up economic activity in the country, support entrepreneurship, optimize budget expenditures and revive the most affected sectors.”
Deputy Finance Minister Odilbek Isakov, World Bank Country Manager for Uzbekistan Marco Mantovanelli also spoke at the event, stressing that the ongoing reforms in the framework of the State Program, the measures taken are viable and are effectively applied in everyday life.
The videoconference provided detailed information on the implementation of the State Program in 2020. For instance, the Presidential Decree ‘On the Strategy of the Banking System Reform 2020-2025’ sets such goals as increasing the share of assets of banks that do not have a state share from the current 15 to 60 percent, increasing the share of liabilities before the private sector from the current 28 to 70 percent, attracting at least three strategic foreign investors with the relevant skills, knowledge and authority to three banks.
In pursuance of the Presidential Decree ‘On measures to further support export activities’ adopted under the State Program, exporting enterprises received subsidies to partially offset the costs of transportation by road, air and rail when exporting products. Also, the Exports Promotion Agency will provide compensation to cover the insurance premium when using insurance services by exporters as collateral.
The President approved a Resolution ‘On measures to mainstream digital economy and electronic government’. It sets the task of doubling the share of the digital economy in the country's gross domestic product by 2023, as well as developing the e-government system, which provides for bringing the share of electronic public services to 60 percent by 2022.
Wim Douw, an international expert, Head of the World Bank's Vienna Office of the Investment Climate Department, and Member of the Global Investment Climate Leadership Group, made a presentation on ‘The Role of Direct Investment in Economic Growth and Transition: Political and Strategic Perspectives’.
Experts from relevant government agencies also made reports on the third priority area of the Action Strategy. Together with local and international experts, they came up with the proposals and recommendations on how to raise the effectiveness of ongoing reforms on the development of the economy and attraction of investments to the country.
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Development Strategy Center
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The second day of the media campaign, announced by the Development Strategy Center to raise awareness of the State Program in the Year of Science, Education and Digital Economy, highlighted the issues of economic development and active investment raising.
The event was organized by the Ministry of Finance of the Republic of Uzbekistan and the World Bank.
The event is aimed at raising awareness of the public and the international community about the progress of ongoing economic reforms, the implementation of the goals and objectives through analytical discussion of the measures stipulated by the State Program 2020, draft laws and other regulatory legal acts; study of proposals and recommendations of domestic and foreign experts, specialists, NGOs, representatives of the public; adoption of advanced foreign practices, international standards, assessments, opinions of international organizations and experts; development of proposals and recommendations on additional measures to ensure high-quality and timely implementation of the assigned tasks, and their submission to the relevant government agencies.
Opening the international videoconference, Executive Director of the Development Strategy Center Eldor Tulyakov noted that a significant part of the State Program 2020, namely 96 paragraphs out of 284 paragraphs, covers priority areas of economic development and active investment raising. In January-June, Uzbekistan adopted more than 15 regulatory and legal acts in this area.
“The global community has faced a global economic crisis due to the COVID-19 pandemic in 2020, and all countries have been forced to take measures to mitigate this crisis and its consequences. For this purpose, since March, the head of Uzbekistan has approved about 20 resolutions and decrees. The documents have triggered a number of measures to step up economic activity in the country, support entrepreneurship, optimize budget expenditures and revive the most affected sectors.”
Deputy Finance Minister Odilbek Isakov, World Bank Country Manager for Uzbekistan Marco Mantovanelli also spoke at the event, stressing that the ongoing reforms in the framework of the State Program, the measures taken are viable and are effectively applied in everyday life.
The videoconference provided detailed information on the implementation of the State Program in 2020. For instance, the Presidential Decree ‘On the Strategy of the Banking System Reform 2020-2025’ sets such goals as increasing the share of assets of banks that do not have a state share from the current 15 to 60 percent, increasing the share of liabilities before the private sector from the current 28 to 70 percent, attracting at least three strategic foreign investors with the relevant skills, knowledge and authority to three banks.
In pursuance of the Presidential Decree ‘On measures to further support export activities’ adopted under the State Program, exporting enterprises received subsidies to partially offset the costs of transportation by road, air and rail when exporting products. Also, the Exports Promotion Agency will provide compensation to cover the insurance premium when using insurance services by exporters as collateral.
The President approved a Resolution ‘On measures to mainstream digital economy and electronic government’. It sets the task of doubling the share of the digital economy in the country's gross domestic product by 2023, as well as developing the e-government system, which provides for bringing the share of electronic public services to 60 percent by 2022.
Wim Douw, an international expert, Head of the World Bank's Vienna Office of the Investment Climate Department, and Member of the Global Investment Climate Leadership Group, made a presentation on ‘The Role of Direct Investment in Economic Growth and Transition: Political and Strategic Perspectives’.
Experts from relevant government agencies also made reports on the third priority area of the Action Strategy. Together with local and international experts, they came up with the proposals and recommendations on how to raise the effectiveness of ongoing reforms on the development of the economy and attraction of investments to the country.
Information Service
Development Strategy Center