STAGES OF LIBERALIZATION AND POLICY REFORMS IN UZBEKISTAN'S INVESTMENT CLIMATE
Keywords:
Investment climate; economic liberalization; policy reforms; foreign direct investment (FDI); regulatory improvements; currency liberalization; tax reforms; legal guarantees; institutional reforms; public-private partnership (PPP); digitalization; business environment; economic modernization; structural reforms; investment attractiveness.Abstract
This article examines the stages of liberalization and policy reforms in Uzbekistan’s investment climate, highlighting the key transformations that have shaped the country’s economic development. The study analyzes the gradual transition from a state-controlled economic system to a more open and market-oriented framework, focusing on regulatory improvements, currency liberalization, tax reforms, and the strengthening of legal guarantees for foreign investors. Particular attention is given to the reform period initiated after 2017, which marked a new phase of structural modernization aimed at improving transparency, reducing administrative barriers, and enhancing the overall business environment. The article also evaluates the impact of institutional reforms, public-private partnerships, and digitalization initiatives on investment inflows and economic growth. The research concludes that consistent liberalization measures and policy reforms have significantly improved Uzbekistan’s attractiveness to both domestic and foreign investors, although further structural improvements remain necessary to ensure long-term sustainability and competitiveness in the global market.
