Tashkent, Uzbekistan (UzDaily.com) — Over the past eight years, Uzbekistan’s gross domestic product has doubled, reaching US$115 billion in 2024, and is forecast to exceed US$130 billion by the end of the current year. President Shavkat Mirziyoyev made the announcement on August 29 during his address on the occasion of the country’s 34th Independence Day.

Exports of goods and services reached US$26 billion, and the country’s gold and foreign exchange reserves exceeded US$48 billion for the first time in history. Since the start of large-scale reforms, Uzbekistan has attracted about US$130 billion in foreign direct investment.

The President emphasized that entrepreneurship has become a key driver of the “New Uzbekistan” economy and one of the main engines of development. In the current year, US$35 billion in investments are expected to create around 9,000 new enterprises and service complexes. On the eve of the holiday, 79 major facilities worth a total of US$4 billion were commissioned.

Over the past eight years, the number of small and medium-sized enterprises has doubled, employing more than 10 million people. The 2025 employment plan was fulfilled ahead of schedule: five million citizens found jobs in eight months, with a total of 5.5 million positions planned for the full year. The President noted that trust in reforms enabled 700,000 migrant workers to return home.

With the opening of the country to international tourism, the number of foreign visitors exceeded 10 million last year, while tourism services exports reached US$3 billion.

Amid a growing economy and population, particular attention is being paid to expanding energy capacities. Over eight years, the number of electricity consumers increased by 25 percent, and consumption grew by 54 percent, requiring significant investments in renewable energy. Electricity generation rose from 59 billion kWh in 2016 to 85 billion kWh in 2025, and is projected to reach 97 billion kWh next year. The share of “green” energy has reached 30 percent, with plans to increase it to 54 percent by 2030, supported by US$35 billion in investments.

President Mirziyoyev emphasized that all these achievements are the result of consistent reforms aimed at sustainable socio-economic growth, strengthening trust in international financial institutions, and attracting foreign investors.