PRESS-RELEASE

On the International Scientific and Practical Conference on the Theme: “ACTIONS STRATEGY OF UZBEKISTAN: MACROECONOMIC STABILITY, INVESTMENT ACTIVITY AND PROSPECTS FOR INNOVATIVE DEVELOPMENT”

In today’s critical period, when competition at the world level is increasing, we all need work and thinking in a new way, mobilizing forces at a high level. According to this, in order to raise the country’s development to a qualitatively new level, the Development strategy of the Republic of Uzbekistan in 2017-2021 was adopted in five priority areas.

In order to implement the Resolution of the Cabinet of Ministers No. 5155 “On organizational measures to develop a draft State program for the implementation of the Strategy for Action in the “Year of supporting of active entrepreneurship, innovative ideas and technologies “and in accordance with Resolution No. 178 of March 6, 2018 for support of scientific research of young economists, wide implementation of ongoing research, on May 28, 2018 in Tashkent State Economic University in cooperation with the Banking and Finance Academy of the Republic of Uzbekistan and Westminster International University in Tashkent  held scientific-practical conference on the theme: “ACTIONS STRATEGY OF UZBEKISTAN: MACROECONOMIC STABILITY, INVESTMENT ACTIVITY AND PROSPECTS FOR INNOVATIVE DEVELOPMENT “

The main goal of the conference was to scientifically-theoretical, scientific-methodical and scientific-practical assessment of relations and recognition, outstanding scientists, practitioners and international experts, in particular, the world community on large-scale reforms implemented in the implementation of measures defined in accordance with the third priority direction of the Strategy actions – “Development and liberalization of the economy.”

Famous economists from Russia, Central Asia and foreign countries, in particular academicians of the Russian Academy of Sciences, Kazakhstan, Kyrgyzstan, Tajikistan, rectors of higher education institutions and economists from abroad, Germany, Great Britain, Australia and Indonesia participated in this conference. representatives of international organizations, diplomatic corps and foreign companies and academicians of the Academy of Sciences of the Republic of Uzbekistan, directors of research institutes, practitioners, as well as rectors and professors – teachers of prestigious universities.

At the conference presentations of lectures by academicians, prominent scientists and economists and practitioners on the implementation of a number of reforms on the third priority area of ​​the Strategy of Action – “Economic Development and Liberalization” were presented.

First of all, it was stressed that in our country, the main focus is on further strengthening macroeconomic stability, maintaining a strict monetary policy, ensuring the stability of the national currency and the domestic market, as well as fiscal reforms.

At the conference it was noted that in 2017, the free exchange of the national currency – soums was provided, the participants of the conference provided forecast indicators related to ensuring economic growth, as a result of reducing customs tariffs twice to create an efficient market economy and liberalize foreign trade.

As is known, last year alone more than 40 programs for the development of the Republic of Karakalpakstan, the regions and the city of Tashkent, as well as individual cities and districts were adopted to fulfill the tasks outlined in the Strategy of Action, and 2,077 major projects were approved for each district. And 11 economic zones were created and amounted to 419.5 million US dollars. Currently, 108 projects are being implemented for a total of $ 108 million.

Last year, a number of works on a favorable investment climate and liberalization of foreign economic activity and support for exports were also carried out. In this direction:

First, the approach to relations with partner countries and international financial institutions was changed. During high-level visits, bilateral bilateral agreements on the development of investment, trade and economic relations with the People’s Republic of China totaling $ 23 billion were signed, the Russian Federation $ 16 billion, the Republic of South Korea $ 10 billion, Turkey – 3.5 billion dollars, Kazakhstan – 2.2 billion dollars and Kyrgyzstan – 455 million dollars. USA.

Restored full-fledged relations with the European Bank for Reconstruction and Development, which provided a $ 190 million credit line for small businesses and private entrepreneurship. More than 20 projects were developed in different directions. Established cooperation with the European Investment Bank and the French Development Agency. Uzbekistan became an equal member of the newly created Asian Bank for Infrastructure Investments.

Secondly, all artificial barriers to foreign trade were eliminated. In particular, an export procedure without prepayment and guarantee obligations was introduced. Redundant and obsolete licensing requirements were abolished. Mechanisms for the export of agricultural products have been simplified.

As a result of the implemented measures, the Republic’s foreign trade turnover in January-December 2017 amounted to 26,907.0 million US dollars, including exports – 13,893.6 million US dollars and imports – 13,014.4 million US dollars. The foreign trade balance amounted to 880.2 million US dollars, including CIS countries – 729.3 million US dollars. And other countries 150.9 million. US dollars.

In particular, in January-March 2018, foreign trade turnover amounted to 7.9 billion US dollars, including exports – 4.1 billion US dollars, imports – 3.8 billion dollars.

The plenary session discussed a number of issues, topics and problems, including socio-economic trends and developments in the global economy, their impact on the national economy; human capital: ways to improve it and international valuation methods; integrated and proportionate socio-economic development of the regions; effective and optimal use of their real potential; modernization and accelerated development of agriculture; specific targeted measures to liberalize the foreign exchange market; economic policy in accordance with international standards for the liberalization of foreign trade and the creation of an effective market economy; reducing government intervention in the economy, increasing the role and place of the private sector in the economy.

Also, based on the conclusions of all scientists, including foreign scientists, based on the results of the conference and comparative critical analyzes presented in the articles received in the conference proceedings, proposals and recommendations of the conference for the government were prepared.

Article researchers recognized as “The Best Article” organizational and creative and editorial committee of the conference, have been recommended for publication in the electronic journal “Economics and innovative technologies”, which is recommended and reviewed by the Higher Attestation Commission under the Cabinet of Ministers of Uzbekistan.

Thus, the first stage was completed – the plenary session of the conference. On May 29, the work of the conference section will continue at the Tashkent State Economic University, the Banking and Finance Academy of the Republic of Uzbekistan and the Westminster International University in Tashkent.

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