TASHKENT: Uzbekistan’s President Shavkat Mirziyoyev has said that Uzbekistan taken decisive measures to fundamentally improve the investment and business environment, and to remove obstacles step by step.
He said that Uzbekistan’s government is implementing comprehensive reforms to ensure that every entrepreneur feels free and confident. Speaking at the Third Tashkent International Investment Forum, Shavkat Mirziyoyev said that this conference is taking place in period of increasing international geopolitical and economic challenges and threats to the sustainable development.
He said that the growth rate of the global economy has been declining for the past 3 years. The trends related to the foreign direct investments are not fulfilling expectations either. In 2023, the total volume of investments in developing nations decreased by 9 percent, he said.
The President said that there is an unparalleled struggle for investors around the world. However, no country can solve such problems alone, he added. The spirit of mutual respect and trust and the principle of mutual support remain solid pillars of long-term cooperation, the president said.
He said that seven years ago Uzbekistan embarked on uneasy, but systemic reforms with big aims and identified the liberalization of the economy, and the creation of a favorable investment environment and the broadening of opportunities for entrepreneurs are its main objectives.
Uzbekistan’s Economy
He further said that in recent years, Uzbekistan’s economy has nearly doubled. In 2023 alone, growth rates reached 6 percent, while inflation remained below 9% and the trade turnover is steadily increasing, the President remarked. The stability of the foreign exchange reserves and national currency are being maintained, he added.
Shavkat Mirziyoyev said that in the past few years, the country has attracted over $60 billion in foreign investments. More than $14 billion from global financial institutions have been directed to social and infrastructure projects, he added.
New Uzbekistan is Rapidly Developing: Shavkat Mirziyoyev
The president announced the of launch of new large-scale projects with world-renowned companies, such as Orascom”, “DataVolt”, “Bonafarm”, “Linde”, “Pasha Holding” and others. He said that the country has taken specific measures in other priority areas to support business and entrepreneurship. Highlighting the importance of the Tashkent International Arbitration Centre, he said that it has been successfully operating with the aim of fairly resolving conflicts. It includes over 90 reputable arbitrators from nations such as the US, Italy, Sweden, China, Britain, and the United Arab Emirates.
He said that the New Uzbekistan is a rapidly developing, nation with vast opportunities. Uzbekistan’s hardworking and talented people are the main source of inspiration for all, he concluded.
