Uzbekistan is implementing a project to improve investment attractiveness

On March 6 of this year, the Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov took part in the launch ceremony of the project “Road Map for Sustainable Reform of Investment Policy in Uzbekistan”, held in Tashkent. The project is being implemented with the participation of the Asian Development Bank (ADB), the European Union, and the Organization for Economic Cooperation and Development (OECD). This was repotred by the PR center of MIIT.

The event was also attended by the Ambassador of the European Union to the Republic of Uzbekistan Charlotte Adrian, Director of the ADB Representative Office in Uzbekistan Kanokpan Lao-Araya, experts from the OECD, IFC (International Finance Corporation), ADB, and the Council of Foreign Investors under the President of the Republic of Uzbekistan.

For reference: At the request of the government of Uzbekistan and with financial support from the European Union and ADB, the OECD, together with ADB, is implementing a project to assess and analyze the investment climate, the effectiveness of foreign direct investment (FDI) and their impact on sustainable development, and the relationship between trade and investment. There will also be an analysis of the impact of FDI on value chains, infrastructure development, studying the possibilities of expanding the flow of investments in green development and digitalization, the effectiveness of the system of benefits and preferences and other areas.

Delivering a welcoming speech, Laziz Kudratov noted the results of the large-scale work carried out in Uzbekistan as part of improving the investment climate and ensuring the protection of investors’ interests.

The results of the research are expected to be evidence-based analysis and tailored recommendations to improve the investment climate, support the implementation of reforms and ensure maximum impact of foreign direct investment on the country’s economic development in the long term.

In particular, the project will allow our country to improve its position in the investment attractiveness index, join the OECD Declaration “On International Investment and Multinational Enterprises” and harmonize the regulatory framework in the field of investment with the introduction of the best practices of OECD countries.

In order to implement this project, a working group will be organized from among the responsible ministries and departments, including the Ministry of Investment, Industry and Trade, the Ministry of Economy and Finance, the Ministry of Energy, the Ministry of Environment, the Ministry of Agriculture and the Statistics Agency.