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Services sector developing. At the Tashkent institute of finance, a scientific-practical conference has taken place on the subject of “The importance of the services sector in raising the financial potential of regions”. The conference was attended by specialists of this sphere, experts, professors, teachers, young scientific researchers and employees of mass media. 

The institute’s pro-rector, N.Haydarov, and others said that in this country reforms directed towards raising the financial potential of regions and heightening the services sector’s role there were being implemented consistently. Projects relating to implementing the Action Strategy on five priority areas of the development of the Republic of Uzbekistan in the years2017-2021 further expand the scope of work in this sphere. 

In conditions of economic globalization and the strengthening of countries’ economic integration and international specialization, nations’ economies are faced with the task of the modernization and diversification of their production sectors, the raising of the competitiveness and quality of services being provided for their population and thus the raising of the financial potential of their regions. 

In this country, the rapid development of its services sector as an important sphere in extending its economy’s modernization and diversification, ensuring people’s employment, increasing their income and improving their qualify of life is one of the priority tasks. 

In the years 2016-2020, the country’s GDP is to be increased through developing the services sector, and its share in the country’s economy is to reach 48.7 per cent. 

Free economic zones play an important role in increasing regions’ economic potential, in supplying large quantities of value-added products to the internal market, and most importantly, in opening up new sales markets. And therefore, special attention is paid to creating such economic zones in the country. The “Navoiy”, “Jizzakh” and “Angren” free economic zones created in localities make a substantial contribution to initiating hi-tech production, encouraging the production of modern goods in regions and increasing the attraction of direct foreign investment. 

A Presidential decree dated 12 January 2017 on creating “Urgut”, “Ghijduvon”, “Qoqon” and “Hazorasp” free economic zones was an important step towards further raising the economic potential of the country. 

At the conference, there was an exchange of opinions on the significance of these free economic zones in the development of the country’s economy, on new jobs to be created and on new economic projects to be implemented.