For five years now, Shavkat Mirziyoyev has been leading Uzbekistan, and his desire for reform and modernization of the country continues to strengthen.
The president was re-elected for a second five-year term, and also introduced changes to the constitution, increasing his term of office to seven years. Despite some initial skepticism, the Uzbek people supported these changes, and President Shavkat Mirziyoyev won the election again, gaining the support of about 87% of the estimated 15 million voters. This move by Uzbekistan is reminiscent of reforms being carried out by neighboring Kazakhstan, which is already successfully modernizing and opening up to Western capital under the leadership of two successive leaders. This process has been highly successful due to China’s interest in the region through its Belt and Road Initiative, which has helped Kazakhstan attract new investments and resource.
Uzbekistan is also following the path of modernization and openness to the world market. President Mirziyoyev is actively working to strengthen relations with other countries, including the United States. The country has complex but promising economic ties with Russia and China, which are Uzbekistan’s largest trading partners.
The re-election of the president and the approval of a seven-year term of government signal a desire for stability and long-term reforms. Uzbekistan, having rich potential and resources, is beginning to attract the attention of world investors, and this could become an impetus for additional economic growth and development in the region.
Uzbekistan is rapidly moving towards economic reforms and openness to foreign investment. Under the leadership of President Shavkat Mirziyoyev, the country is experiencing significant changes and modernization.
President Mirziyoyev is actively working to improve the business environment and expand the rights of foreign investors. This includes improving the judicial system, which strengthens corporate rights and provides more opportunities for joint ventures.
Uzbekistan is also actively pursuing the process of privatization of state assets, which is attracting the attention of foreign investors. Local and foreign companies have already acquired shares in banks, beverage manufacturers and other enterprises in the country. It is important to note that Uzbek society generally supports reforms and privatization, and there is little public outrage against this process. The country is opening up to global investors, and this could become a significant factor in the development of the country’s economy in the coming years.