Shavkat Mirziyoyev was re-elected to the post of President of Uzbekistan in July 2023, an event expected to contribute to the continuation of economic reforms in the country until 2030. His first presidency, which began in 2016, has already seen noticeable changes in the economy of Uzbekistan. It should be noted that president shavkat mirziyoyev carried out a number of ambitious reforms that contributed to the revival of the economy of the post-Soviet republic.
President’s achievements
Mirziyoyev’s important achievements in economic reforms were:
- liberalization of the economy;
- reduction of bureaucratic barriers;
- improvement of the investment climate;
- liberalization of the foreign exchange market;
- release of political prisoners and protection of human rights, etc.
Under his leadership, Uzbekistan moved from a command economy to a more open market system. This contributed to the increase in foreign investment and the creation of new business opportunities.
Mirziyoyev focused on reducing the bureaucratic burden for businesses. The simplification of procedures and the reduction of administrative obstacles contributed to the development of entrepreneurship and investment. Attracting foreign investment has become one of the priorities. Mirziyoyev worked to improve the legal and institutional environment for investors, which contributed to the creation of new jobs and the development of economic sectors. The freeing up of the Uzbek sum exchange rate and the reduction of restrictions on foreign exchange contributed to a more flexible and competitive foreign exchange market.
Development of international relations
Mirziyoyev actively developed external relations, improving relations with neighboring countries and other states, which helped attract investment and expand economic opportunities. The President paid attention to diversifying investment sources, attracting the attention of both Chinese and European investors. The re-election gives him the opportunity to continue his work to reform the economy of Uzbekistan and develop the country in the coming years. To achieve sustainable growth and economic diversity, Uzbekistan will have to continue to work on improving the business environment, attracting investment and supporting the private sector.
On the domestic front, Shavkat Mirziyoyev continues to actively fight bureaucracy and corruption in an effort to create more transparent and efficient governance in Uzbekistan. These efforts are aimed at improving the business environment, increasing investor confidence and creating a more favorable environment for economic growth.
