Uzbekistan and ADB discussed the development of semiconductor and microelectronics production

The Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, Jamshid Kuchkarov, met with the Director of the Asian Development Bank (ADB) for Uzbekistan, Kanokpan Lao-Araya, on October 6 in Tashkent.

Participants in this meeting included the ADB Country Operations Head, Mirzo Iskandar Gulyamov, the bank's Senior Economist Sherzod Akбаров, and other representatives from both sides.

The participants focused on expanding cooperation, implementing current joint projects, and preparing new initiatives.

A separate area of discussion was the development of microelectronics and the semiconductor industry. The parties reviewed opportunities to strengthen Uzbekistan's innovative potential and attract international experience and technical assistance for the development of these fields.

Furthermore, the participants discussed the implementation of artificial intelligence technologies in economic processes and accelerating digital transformation. Infrastructure and socio-economic projects implemented through public-private partnerships were also on the agenda.

The possibilities of increasing private sector participation in such endeavors were examined. At the end of the meeting, Uzbekistan and the ADB reaffirmed their intention to continue practical interaction and joint work on new projects aimed at the country's economic and technological development.

The Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, Jamshid Kuchkarov, held a meeting with World Bank experts on September 24. This meeting was part of a mission aimed at identifying new drivers of the country's economic development, according to a report from the Information and Communications Department of the Ministry of Economy and Finance.

Participants in the meeting included Najih Benhassine, World Bank Regional Director for Central Asia; Abebe Adugna, Regional Director for Europe and Central Asia Practices; Nil McCain, Regional Manager of the International Finance Corporation for Uzbekistan and Turkmenistan, and other responsible representatives.

The participants discussed the prospects of Uzbekistan's economy transitioning to a new stage of development and the measures necessary to sustainably maintain high rates of economic growth. Special attention was paid to finding new sources of growth.

The parties reviewed various ways to support current economic reforms, increase private sector activity, and stimulate investment. A priority task was also recognized as creating favorable conditions for the emergence of quality and new jobs.

Furthermore, the participants exchanged views on the possibilities of strengthening the potential of various economic sectors and further improving the business climate. Issues regarding enhancing Uzbekistan's economic competitiveness and expanding the country's participation in global value chains were also addressed.

Following the meeting, the parties agreed to continue constructive dialogue and increase cooperation to provide comprehensive support for economic reforms. Joint study of new opportunities to ensure long-term, sustainable, and inclusive economic growth in Uzbekistan is planned.