Tashkent, Uzbekistan (UzDaily.com) -- Experts from the Institute for Forecasting and Macroeconomic Research (IPMI) studied the measures taken in 2017-2022 to create a favorable investment climate in Uzbekistan and their results.

In recent years, more than 12 new Laws and more than 60 Decrees and Resolutions have been adopted in the republic to improve the investment climate and support entrepreneurs.

To consider the appeals of entrepreneurs, the Institute "Business Ombudsman" under the President of the Republic of Uzbekistan, the reception rooms of the Prime Minister and the Single Center for Investors have been established.

In 2021, for the first time in the history of the country, the process of privatization of non-agricultural land began.

If in 2016 the visa-free regime for visiting the republic was valid only for citizens of 9 countries, then as a result of reforms in 2022, the number of such countries exceeded 90. In addition, a separate category has been introduced for investors and their families - "investment visa".

The reforms carried out have not gone unnoticed. So, for 2017-2022, Uzbekistan in the international ranking of the Index of Economic Freedom rose by 31 positions, from 148 to 117.

If in 2017, US$14 billion of investments were invested in the country's economy, then in 2022 the volume of investments increased by 1.7 times, reaching US$24 billion.

Today, investors from over 50 countries of the world are steadily investing in Uzbekistan. They are mostly invested in such sectors of the republic's economy as metallurgy, energy, chemical industry, electrical engineering, mechanical engineering, and light industry.

Reforms aimed at improving the investment climate contribute to the sustainable development of our and improve the living standards of the population.