Staff Report
TASHKENT, UZBEKISTAN: President of Uzbekistan Shavkat Mirziyoyev has said that the economic reforms that his country undertook in recent years helped the national economy grow despite global unrest and crises, increasing the volume of foreign investment by manifolds to hit $40 billion.
Addressing the First Plenary Session of the Foreign Investors Council, he said that over the last few years Uzbekistan has been implementing large-scale reforms and transformations with a key goal of opening up its economy and integrating it into the global economy.
The president said that Uzbekistan now aims to double its gross domestic product over the next 10 years, for which the country expects to increase investment to $120 billion over the next 5 years, including at least $70 billion of foreign investment.
Future Steps and Reforms
President Mirziyoyev invited foreign businessmen to come and develop and jointly implement new mutually beneficial projects.
While highlighting furture reforms, the president said that the country’s future reforms would be circled around 6 key areas or goals: the rule of law; the banking and financial sectors; reducing the state’s share of the economy and deepening privatization; developing the country’s rich natural resources; investing into digitalization and the development of green economy processes.
The president said that Uzbekistan – alongside the European Bank for Reconstruction and Development and the World Bank – was formulating a strategy for the deep decarbonisation of its economy until 2050.
