Investments in Uzbekistan have grown 1.5 times over the past five years - PMTI.

Experts from the Institute for Forecasting and Macroeconomic Research (IPMI) analyzed the measures taken in Uzbekistan to attract foreign direct investment in 2017-2022 and their effectiveness.

In recent years, several measures have been taken to increase the country's investment attractiveness and attract more foreign investment in the economy.

In particular, to protect the rights and interests of investors, a new “Tax Code”, “Law on investments and investment activity”, and “Law on mediation” were adopted.

To create more favourable conditions for investors, the International Tashkent Arbitration Center was made, and new mechanisms were introduced, such as "investment credit", "investment subsidy", and "investment visa".

The number of free economic zones operating in the country at the beginning of 2017 was 3; by 2022, it will reach 22.

Twelve specialize in industry, 6 in pharmaceuticals, 2 in tourism and 2 in agriculture.

Changes in legislation and created opportunities have a positive impact on the investment environment in the country.

For example, in 2019, for the first time, Uzbekistan was included in the index of regulatory restrictions of the Organization for Economic Cooperation and Development (OECD) on foreign direct investment, and according to this index, in 2020, it ranked 43rd in the world, 7th in the Asian region.

In 2017-2022, Uzbekistan improved its position by 31 in the overall ranking of the International Economic Freedom Index, rising from 148th to 117th.

In 2017, the volume of foreign direct investment in the country amounted to $2.2 billion, and by the end of 2022, this figure increased by 1.5 times and reached $3.3 billion."