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.
