Why Uzbekistan
Economy
Economy
Uzbekistan’s economy is rapidly gaining momentum. GDP growth in 2023 of 6% is just a snapshot in a much longer trajectory of growth. Some attribute our explosive economic expansion to population size and character: Uzbeks are aged, on average, only 29; 99% are literate; 83% enjoy internet access.
25%
Foreign trade growth
0%
Corporate taxes for businesses in IT Park
$70 bln
FDI over past 5 years
Others identify the government’s privatisation program as a key driver of growth, as well as the state’s plans to reduce businesses’ regulatory burden by 30% by the end of the decade. But just as important to Uzbekistan’s economic transformation have been our expanding trading relationships with the rest of the world.
29
average age
99%
literate
83%
internet access
In 2023, the country witnessed foreign trade growth of 25%, and whole new sectors of the economy are flourishing as global investment pours into the country. Whether it’s pioneering renewable energy projects in wind and solar, high value-added tech and IT projects in Tashkent’s booming IT Park or a burgeoning consumer sector catering to digital-savvy young Uzbeks, market liberalisation is reshaping Uzbekistan for the better.
