Economic Growth Predicted for 2030 with Higher Production of Gold and Copper
Uzbekistan’s president, Shavkat Mirziyoyev, has announced that the country’s economy will double by 2030, reaching $160 billion. Mirziyoyev stated that this growth will raise the gross domestic product per capita from the current $2,200 to $4,000, putting Uzbekistan among “countries with an income above the average.” The president went on to say that mega-projects are planned in the coming years, including the commissioning of three copper enrichment plants, a new copper smelting plant, a tinned copper processing cluster, large chemical-polymer clusters, and an enterprise for producing finished products with high added value from phosphorite raw materials.
By 2030, copper production is expected to increase 3.5 times to 500,000 tons, gold production by 1.5 times to 155 tons, silver by 3 times to 500 tons, and uranium by 3 times to 10,000 tons. Additionally, Uzbekistan will debut its production of aluminum, lithium, steel, and graphite. Projects from four foreign companies are also planned, and competition in the automotive industry will increase. Annual car production should reach one million, including 300,000 electric cars.
To support the production of high-value-added, exportable products, Uzbekistan plans to establish the Industrial Development Fund and allocate $1 billion. The country aims to become a member of the World Trade Organization to enter foreign markets with finished goods. Special export zones with 50 prestigious foreign brands will also be established, with the industrial mortgage system fully implemented. Uzbekistan will also establish two new industrial zones, creating at least 1,000 jobs each, and aims to export IT services worth $5 billion.
