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Improving energy efficiency is an important factor of the economy competitiveness in Uzbekistan

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Duration: August 2016 - December 2016

Improving energy efficiency is an important factor of the economy competitiveness in Uzbekistan

An important factor in achieving long-term sustainable economic growth in Uzbekistan is the restructuring of the economy, aimed at deepening three or four Stages of processing of domestic raw materials in order to increase the share of finished products with high added value in the total volume of production and exports. The increase in production of finished products in a relatively limited capacity of the domestic market would require a sharp increase of its exports. This, in turn, significantly increases the demands on the competitiveness of the products, both in terms of its quality and price.

Structural transformation also requires the reduction and, eventually, the complete cessation of exports of hydrocarbons, primarily natural gas, which will be sent to deep processing. Ceteris paribus, rapid industrialization and population growth (according to the UN forecast by 2030 the population will increase to 37 million people.) can, if not taking energy saving measures, significantly increase the need for economy in energy resources and narrow the possibility of their use as raw material for production of high-tech products.

The key problem of the long-term strategy for growth and competitiveness of the economy of structural reforms is likely resource constraints and the occurrence of hydrocarbon depletion risks necessary for present and future generations, as a result of their irrational use. It is estimated that if current trends and the volume of consumption of resources continue in the same direction, energy deficit could reach 65.4% by 2030.

In order to ensure the achievement of development targets, without putting the future generations to significant risks and deficit, it is necessary to radically transform the ways of use of energy resources in the country through a rapid transition to energy-efficient growth model.