INSUBCONTINENT EXCLUSIVE:
Uzbekistan has joined hands with the International Finance Corporation (IFC) to attract more foreign direct investment (FDI).The
collaboration aims to revamp existing investment laws
The World Investment Report 2023 showed FDI increased from $1.73 billion in 2017 to $2.53 billion in 2022.Still, challenges such as
implementation and transparency exist.The IFC will help create new, straightforward laws to tackle these issues
These will focus solely on FDI and private investments.The laws will also offer clear market entry rules
They will ensure equal treatment for overseas investors and dispute resolution through international courts.Uzbekistan Eyes $70 Billion in
Foreign Investment by 2026
(Photo Internet reproduction)Moreover, the IFC and the Japanese government will work together for global alignment.Uzbekistan aims to secure
$70 billion in foreign investment by 2026, writes Investment Monitor in its latest report.The focus will be on sectors like healthcare,
transport, and the green economy.In addition, Special Economic Zones (SEZs) will also see changes
The IFC will guide Uzbekistan in giving control over these zones to the private sector.This move includes detailed feasibility and
sustainability checks for site selection.Government officials are optimistic
reform.However, challenges remain
Effective implementation is crucial for success
economies.It shows the way to remove legislative roadblocks
The high rate of administrative changes and external risks add extra hurdles.Yet, the new laws can make Uzbekistan more appealing to the
global investment community.Hence, the success of this partnership could influence not just Uzbekistan but other nations looking to improve
