Prospects of the service sector were discussed with representatives of the World Bank

On May 14 of this year, representatives of the Ministry headed by the Deputy Prime Minister of the Republic of Uzbekistan - Minister of Economy and Finance Jamshid Kuchkarov held a meeting with the delegation of the World Bank.

First Deputy Minister of Economy and Finance Ilhom Norkulov, Deputy Ministers Akhadbek Khaidarov and Jasur Karshibayev also took part in it. From the foreign side the World Bank's Global Director for Trade, Investments and Competitiveness Mona Haddad, the Head of the World Bank's Office in Uzbekistan Marco Mantovanelli, the World Bank's Practice Manager for Macroeconomics, Trade and Investments in Europe and Central Asia Antonio Nusifora, and a number of experts attended.

At the beginning of the meeting, the importance of the service sector in the implementation of the "Uzbekistan – 2030" strategy was noted. It was noted that the reforms implemented in this field and future plans will be supported by the World Bank.

After that, the representatives of the World Bank delegation told the leadership of the ministry about the prospects of economic growth based on service provision, the basis of the proposed plans for effective use of the potential of the service sector, and the definition of its priorities "Prospects of the service sector in Uzbekistan" presented the conclusions of his report.

In this case, it was emphasized the need to turn the service sector into an engine of economic growth. It was also noted that the export of services in Uzbekistan and the flow of foreign direct investments to the country have grown significantly in recent years.

In addition, it was emphasized that the service sector is increasingly taking the place of the production sector, which is considered a priority for economic growth.

During the meeting, the results of the World Bank's technical support for Uzbekistan's membership in the World Trade Organization (WTO) were also discussed. It was noted that it is necessary to further intensify the relations in this direction.

At the end of the meeting, the parties agreed to further develop cooperation and intensify consultations on planned projects.

Information service

Ministry of Economy and Finance