Uzbekistan Targets Record Gold Production and Economic Growth

Uzbek President Shavkat Mirziyoyev has said that Uzbekistan aims to increase gold production to 175 tons by 2030.

President Mirziyoyev made these remarks in his address to parliament and the nation, The Caspian Post reports via local media.

A $320 million project will be launched at the Navoi gold mines to process an additional 2 million tons of ore. The next stage of the Muruntov deposit and large-scale silver mining projects totaling $2.3 billion will also be implemented. Mirziyoyev said these initiatives will create a processing capacity of 18 million tons of ore annually, assisting the country reach its 175-ton gold production target by 2030.

The president emphasized that all economic initiatives are aimed at boosting GDP to $240 billion by 2030, creating 1 million high-income jobs, and attracting $180 billion in foreign investment. He highlighted that Uzbekistan’s GDP has exceeded $145 billion for the first time, exports grew 23 per cent to $33.4 billion, and foreign exchange reserves surpassed $60 billion. The economy attracted $43.1 billion in foreign investment, nearly a third of the country’s GDP.

Mirziyoyev also announced a new industrial development program to advance technology, expand value chains, and increase industrial added value from $36.5 billion to at least $60 billion over the next five years. Production in high- and medium-high-tech sectors is expected to grow 2.5 times.