State support for loss-making enterprises is on the verge of termination

Today, 14 March, under the chair of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, a video conference was held on the issues of sustainable economic development and transformation of state enterprises.

According to the press service of the President’s Office, State enterprises are being transformed in order to develop a market economy and improve the competitive environment in the country.  The conference discussed issues related to the acceleration of work in this area and the privatization of State assets.
In particular, 25 state-owned enterprises have been highlighted as slow in improving operational efficiency. Therefore, there is a necessity to completely terminate the practice of state support for unprofitable enterprises that do not meet modern requirements.

The situation in the field of transport was also considered. Measures have been planned to increase the flow of transit passengers, simplify the system of charter flights, turn local airports into regional transit hubs.
It was noted that the national airline «Uzbekistan Airways» should introduce modern approaches to work in a competitive environment, preventing an increase in the price of air tickets.

The meeting also analyzed the expected economic performance in the first quarter of this year. Special attention was paid to the commissioning of new enterprises, the creation of jobs and an increase to the public income and social support.
Governors and industry leaders have been instructed not to allow economically unsustainable projects to be promoted. The task of the relevant authorities is to strengthen the monitoring of the implementation of socio-economic programs and to examine the conformity of investment projects with the requirements of the market economy.

During the discussion of export issues, tasks were set to solve transport and logistics issues, to expand the geography of exports, to bring products to new markets, taking into account the current situation in external markets.
The governors of the regions reported on the execution of tasks to ensure food security and price stability in the markets.
In particular, issues of socio-economic development of Fergana and Surkhandarya regions were discussed. The reports of governors of regions on measures to expand industrial production, open new export routes and provide employment were viewed.