Uzbekistan Aims for $200 Billion GDP by 2030 with Focus on Transport Reforms

The updated law aims to attract private companies and investments to further develop infrastructure and accelerate industry growth.

@Yuz.uz

On November 26, President Shavkat Mirziyoyev outlined transformative plans for Uzbekistan’s state-owned railway and aviation sectors, setting an ambitious goal to increase the country’s GDP to $200 billion by 2030, The Caspian Post reports citing foreign media.

Significant changes are already being implemented to enhance efficiency and convenience. In the railway sector, six independent enterprises have been created under “Uzbekistan Railways.” The company added 1,200 new freight cars, halving domestic freight transportation times. The digitalization of operations has streamlined processes, cutting the ordering stage for freight cars from seven days to three and reducing processing time from 72 hours to just 12 hours. Around Tashkent, train traffic has increased by 30%, and for the first time, the previously unprofitable enterprise posted a profit of 30 billion UZS ($2.3 million) this year.

In the aviation sector, Uzbekistan Airways has seen flights increase by 25%, with domestic flights surging 2.5 times. The airline now holds a 20% share of international transport in Central Asia, and annual passenger traffic is projected to exceed 6 million. “Uzbekistan Airports” has also expanded services for planes, cargo, and passengers. Greater private sector involvement in airport management has yielded notable results, with 44 airlines currently operating in Uzbekistan. Cargo transportation through airports is expected to grow by 22% this year.

“The economy and trade relations in our country are developing year after year. The population’s income and the tourism potential of the regions are also increasing. By 2030, we have set a goal to increase the volume of our gross domestic product to $200 billion. Therefore, we should pay special attention to the transport arteries,” Mirziyoyev said.

To support these developments, a new version of the Law “On Railway Transport” has been signed, replacing the 25-year-old legislation. The updated law aims to attract private companies and investments to further develop infrastructure and accelerate industry growth.