Economic Impact and Performance Trends in Uzbekistan's Chemical Industry (2016-2030)

Abstract

Over the last five years, Uzbekistan has been experiencing substantial changes in its chemical industry regarding its development strategies, digitalization, and policy improvements. Nevertheless, studies in this area are still lacking, the qualitative effects of these strategies on economic performance. Given its research objectives, the present study uses survey data methodology along with document analysis to look at performance trends and the economic effect of the chemical industry from 2016 to 2030. Interviews with IT practitioners, governmental and other officials, as well as representatives of large enterprises informed about key modernization obstacles, the role of digital transformation, and institutional support. According to the findings, production volumes have increased significantly from 2,333 billion UZS in 2016 to 15,716 billion UZS in 2023 and predicted 44,369 billion UZS in 2030. E-adoption increased from 5% in 2016 to a projection of 95% by 2030, promoting productivity and firm competitiveness. Some of the common issues include restricted infrastructure, reduced skilled human resources, and issues with sustainable practices. These findings are consistent with the general tendencies in the process of industrial development and the use of new technologies in the international context. This research suggests to attain 2030 goals, policies shall remain sensitive to the development of infrastructures, digitization of human resources, incentives for international investors, and sustainability. The chemical sector will benefit from this multidimensional approach along with the overall economic development strategy for Uzbekistan.