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Uzbekistan: Market outlook 2018

Uzbekistan has started responding to the country's acute economic and social challenges with the set of structural and comprehensive reforms. Initial results have shown a positive effect on opening and liberalizing of the economy, which encourages the growing number of international players to consider entering this market.

We are glad to present this introductory report about Uzbekistan.

At the end of 2016, newly elected president Shavkat Mirziyoyev launched a progressive economic reform program to recast the Soviet-style centralized system of economic governance.

From early 2017, sweeping changes were introduced, including a liberalized foreign exchange regime in September 2017 to mark a clear shift towards openness to international business. President Mirziyoyevi s determined to improve political and trade relations with the country’s neighboring states. He has taken some steps to improve the country’s human rights record. Transport links are improving, and trade restrictions are continuously being softened or scrapped. The government continues to work with a growing list of foreign states to improve political ties and attract inward investment.

These moves, coupled with Tashkent’s efforts to improve ties with its Central Asian neighbours and the main external players in the region: Russia, China and the US, may signal upcoming positive change.

As a result of Business Sweden’s experiences and interactions with the vast amount of Swedish companies in Uzbekistan and Central Asia, we see the need for guidance and reliable input when deciding upon matters concerning the market. We have been delivering various projects in Central Asia for over a decade and are familiar with the local aspects of doing business. We hope you will gain new insights from this report and that we can bring you some guidance in your decision-making processes.

To get more information on the development opportunities in Uzbekistan, please, contact our team in Moscow.

Document information
Date: 22 Nov 2018
Size: 1.8 MB(pdf)