President Mirziyoyev advocates for increased local budget funding through personal income tax allocation
Shavkat Mirziyoyev, the President of Uzbekistan, recently presided over a meeting regarding the socio-economic development of the Fergana region. During the meeting, it was highlighted that there has been a significant increase in investment in the region over the past 7 years, with local producers now accessing 60 new markets. However, it was also noted that by implementing new development approaches focused on stronger support for businesses, these figures could potentially be doubled or tripled.
Despite progress in investment, the region currently ranks last in terms of industrial production growth within the country. There have been delays of 4-5 years in the execution of various projects, indicating a need for improved efficiency and management.
One specific concern addressed by President Mirziyoyev was the issue of cement production. High production costs have made it difficult for local products to compete with imported goods, leading regional factories to operate at only one-third of their capacity. The president emphasized the importance of addressing energy costs and increasing concrete production to meet the needs of builders in the region.
In an effort to address various challenges, it was decided to allocate funds from the regional budget to tackle issues related to electricity, gas, and roads in 35 neighborhoods under the “Initiative Budget.” Furthermore, a proposal to allocate up to 50% of collected personal income tax to district and city budgets is under consideration to aid in financing local initiatives.
To ensure closer interaction with the business community, the governor, deputy governors, and mayors of 19 districts and cities have been tasked with meeting a minimum of 5 businessmen daily to address their concerns. They are also responsible for updating the public and businesses through weekly media reports on ongoing developments.
Additionally, efforts to revise the poverty reduction system and enhance support for the population are underway. The integration of poverty reduction and social welfare tasks under the National Social Protection Agency was announced by the president to streamline efforts and improve outcomes for those in need.
Overall, the meeting highlighted the need for proactive measures to boost economic growth, enhance industrial productivity, and address key challenges facing the Fergana region. Through collaborative efforts and innovative strategies, the government aims to drive sustainable development and improve the livelihoods of the local population.
