Baku, Azerbaijan, June 7
By Fikret Dolukhanov – Trend:
The World Bank Group (WB) welcomes Uzbekistan’s wide-ranging reforms to boost the country’s economy and improve the lives of all Uzbek citizens, the WB representative told Trend on June 7, commenting on the economic reshaping of Uzbekistan
According to the WB representative, Uzbekistan has made rapid progress in adopting major reforms.
“In the last 12 months, the government of Uzbekistan has taken major steps to transform its economy by liberalizing its currency, lifting trade and investment barriers, and improving business regulations and opening markets to attract private sector investment and boost exports,” the WB representative said.
At the same time, the government is also introducing safety nets to protect its most vulnerable people and it has made citizen engagement a growing priority.
“These changes are important and ultimately will help the country to strengthen institutions and create much needed quality jobs,” the WB representative noted.
He reminded that the WB has been supporting Uzbekistan’s development since 1992.
“Over the years, the Bank has provided funding for the implementation of 40 projects in various socio-economic spheres. We have supported projects to improve people’s access to water, energy, education and health. These investments are raising people’s living standards and improving their quality of life,” he said.
He noted the WB is also working to help Uzbekistan modernize its economy and financial sector and improve its business environment with better regulations to attract private investors.
“At the moment, as you might know, we are in the process of realigning our country partnership framework to respond to the Uzbek government’s reforms. The goal is to help Uzbekistan build a market economy, reform state institutions, broaden citizen engagement and invest in human capital through education, health and social protection systems,”
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