Openness and transparency have a positive effect on the development of industries, which is recognized by foreign experts and reflected in world rankings.

An article posted by Emerging Europe tells about how Uzbekistan’s openness has helped improve the country’s economy. With reference to the data of the Fitch Ratings, it notes that the Uzbek economy has transformed immensely since introducing a reform agenda in 2017, which aims to minimise state involvement in the economy as well as to liberalise key sectors.

It is emphasized that major private firms based in Uzbekistan, such as Artel Electronics and BCT Denim – two of the most recognisable local brands – have both reported a boost in exports since the introduction of the reforms, alongside other benefits. The article also mentions the complete eradication of child and other forms of forced labour in the cotton industry.

UzA