Uzbekistan is one of the two double landlocked countries in the world. The development of modern transportation and logistics systems is of key importance.
Uzbekistan: Power & Influence – How Decisions are Made. No business can succeed in any country without company management understanding how that country is run, decisions made, and disputes handled. It is equally important to understand the background, ambitions and motivation of the leader and the senior officials.
President Mirziyoyev announced that a referendum to amend the constitution will be held before the end of this year. He offered nine general proposals and said it was necessary to replace the principle of “state-society-person” with “person-society-state.”
Income growth is a key government policy. Raising the country to high-middle income status by the end of the decade is a key policy priority for the President. This will be a powerful driver for the consumer sector.
Having concentrated on fiscal and monetary reforms and on advancing big infrastructure projects, over the past five years, the government is now much more actively pursuing economic and export diversification projects, to create employment and support rural communities. Agriculture has emerged top of the priority sector list.
The main investment priority is still the power sector, as Uzbekistan seeks a bigger, and diversified, power source to fund economic growth. There is a greater focus on renewable energy, especially solar.
Uzbekistan GDP is expected to have grown by 1.6% in 2020 (preliminary estimate). This is because of the impact of the Covid lockdown on domestic consumption and the fall in external demand. A bounce of 4-5% is expected in 2020.
More focused. Having concentrated on fiscal and monetary reforms and on advancing big infrastructure projects, such as in the power sector, the Uzbek government is now much more actively pursuing economic and export diversification projects, especially in areas that can create employment and support rural communities. Agriculture has emerged as top of that list.
Healthcare was already a priority, even before Covid-19. Uzbekistan is a country in a hurry to modernize. It has already carried out a number of business and lifestyle changing reforms since the election of President Mirziyoyev in late 2016.
Uzbekistan has undergone a fast-paced change since late 2016. This “new-frontier” attracted a lot of investor interest and IFI aid/loan money. But the economy is facing problems. Balancing efforts to sustain growth with prudent fiscal management is more difficult.