As part of the International Partnership Initiatives Week in Tashkent, the Ministry of Economy and Finance of the Republic of Uzbekistan held a roundtable discussion on the role of innovation in expanding human capital and entrepreneurship.

The event was attended by leading world experts and specialists in the economic, social, and financial spheres.

The participants analyzed Uzbekistan’s achievements in ensuring sustainable economic growth, reforms aimed at developing human capital and reducing poverty, as well as work aimed at increasing the potential of young people and creating jobs.

Representatives of foreign delegations noted that stable and high economic growth in Uzbekistan has reduced the poverty rate from 23 percent in 2019 to 11 percent in 2023. The World Bank report emphasizes that Uzbekistan has shown the best result in reducing poverty among the countries of Europe and Central Asia.

The presentation of national experts noted that a clear goal has been set to reduce the country’s poverty rate to six percent by the end of 2025. 

The conference included an exchange of views on taking small and medium-sized businesses to a new level through systemic measures based on the Uzbek model, continuing the digitalization of the process, supporting youth and women’s entrepreneurship, and expanding cooperation with international financial organizations.

The topics discussed included increasing efficiency through innovation, including promoting research and development and startups, manufacturing high-value-added products through introducing new technologies, and Uzbekistan’s achievements in information technology.

The participants reviewed an innovative approach to urban development and the development of master plans, particularly the strategy for developing cities in Uzbekistan, the results achieved, and promising areas.

Bekhruz Khudoyberdiyev, UzA