BAKU, Azerbaijan, July 27. Uzbekistan has
climbed 19 places in global economic rankings since 2018,
reflecting the impact of economic reforms aimed at liberalizing the
economy, improving the investment climate and expanding the digital
sector.


This was reflected in the statement by the Minister of Digital
Technologies of Uzbekistan, Sherzod Shermatov.


According to the World Bank, Uzbekistan's gross domestic product
(GDP) expanded 2.4-fold between 2018 and 2025, driven by a series
of economic reforms and measures to improve the investment climate.
During that period, Uzbekistan overtook 19 economies that had been
larger than its own in 2018, with its GDP surpassing $147 billion
for the first time.


The agency said the progress follows a series of reforms
introduced under President Shavkat Mirziyoyev, including measures
to strengthen the private sector, attract foreign investment and
promote long-term economic growth.


According to the agency, Uzbekistan's development strategy has
focused on economic liberalization, improvements to the business
environment and investment climate, and human capital development.
It also highlighted digital transformation and the rapid expansion
of the country's information technology sector as key contributors
to economic diversification and productivity growth.







"These results demonstrate that consistent, long-term reforms
deliver tangible outcomes," the agency said.


The agency said Uzbekistan plans to continue pursuing economic
and digital reforms aimed at creating new opportunities for
businesses, investors and citizens.


It also invited international companies and entrepreneurs to
explore investment and outsourcing opportunities through the
country's dedicated investment and startup platforms.


Uzbekistan has implemented wide-ranging market-oriented reforms
in recent years, including currency liberalization, tax reforms,
privatization initiatives and measures to improve the business
environment. The country has also prioritized digitalization and
the expansion of its IT industry as part of a broader strategy to
diversify the economy and increase its competitiveness.