BAKU, Azerbaijan, September 26. Uzbekistan and the World Bank discussed ways to sustain economic growth, strengthen private-sector activity and create new sources of growth during a meeting held as part of the World Bank’s New Growth and Jobs Program Mission in Uzbekistan on Sept 24.
This was reflected in the statement by the Ministry of Economy and Finance, following a meeting between Uzbek Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov and a World Bank delegation that included Naji Benhassine, World Bank regional director for Central Asia; Abebe Adugna, regional director for prosperity in the Europe and Central Asia region; and Neil McKain, regional manager of the International Finance Corporation for Uzbekistan and Turkmenistan.
The sides discussed prospects for taking Uzbekistan’s economy to a new stage of development while maintaining high economic growth and identifying new drivers of economic activity.
Particular attention was given to supporting ongoing economic reforms, strengthening private-sector activity, promoting investment and creating conditions for more and better-quality jobs.
“The continued development of the private sector, investment activity and the creation of quality jobs are among the key areas for strengthening the foundations of sustainable economic growth,” the Uzbek Ministry of Economy and Finance said.
The participants also exchanged views on increasing the potential of economic sectors, improving the business environment and strengthening the competitiveness of Uzbekistan’s economy.
The discussions also covered opportunities to expand Uzbekistan’s participation in global value chains and identify new areas for cooperation with the World Bank and its institutions.
The meeting concluded with an agreement to maintain constructive dialogue, support ongoing economic reforms and expand cooperation in identifying opportunities for Uzbekistan’s long-term, sustainable and inclusive economic growth.
