The share of investments in the structure of GDP of Uzbekistan to exceed 39 percent
Tashkent, Uzbekistan (UzDaily.com) -- Under this heading, the article on the achievements of the Republic of Uzbekistan in attracting investments was published on the website of Turkey’s leading media, Anatolian news agency Anadolu, Dunyo news agency reported.
International experts note an increase in investment in Uzbekistan. Thus, according to IMF forecasts, at the end of 2023, the share of investments in the structure of GDP will exceed 39 percent, which will be the maximum indicator for the CIS countries. This was stated in the report of the international network of companies offering consulting and audit services in PwC in Russia, Anadolu reports.
In a few years, Uzbekistan has been able to leap from 166th to 69th place in the World Bank’s Doing Business ranking. Consistent liberalization is underway under the leadership of President Shavkat Mirziyoyev: dollar regulation has been abolished, economic reforms have been carried out, tourism and foreign investment have begun to develop, 14 free economic zones have been opened, Agency observers emphasize.
According to the authors of the publication, the huge potential in the development of the economy of Uzbekistan lies in its inhabitants - the largest population in the region (more than 33 million people) lives here, 72 percent of which are under 40 years old.
At the end of 2018, the turnover of the domestic market of the Central Asian states (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan) made up US$150 billion. According to the forecast of the Asian Development Bank, the average growth rate of the region’s economies in 2019 made up 3.9 percent. At the same time, in Kazakhstan GDP increased by 4.2 percent, in Uzbekistan - by 5.5 percent, the article emphasizes.
According to observers, foreign industries are primarily interested in traditional industries, namely, oil and gas, chemical and mining, agriculture and textile industry. Very attractive, in their opinion, are also new directions - the banking and telecommunications sectors, as well as tourism and, in particular, construction. At the same time, attention was drawn to the fact that in recent years a construction boom has been observed in Uzbekistan. In large cities, trade and storage facilities, residential buildings and hotels, restaurants and shops are being erected, observers say.