The economy of Uzbekistan

The economy of Uzbekistan

Xusanjonova Feruza

The economy of Uzbekistan was formerly associated with a Soviet-style command economy, with a slow transformation to a market economy. However, in recent years and since the election of President Shavkat Mirziyoyev the company has seen rapid economic and social reform, aimed at boosting growth and transforming Uzbekistan into a true, modern market economy.[17] International Financial Institutions, including EBRD, Asian Development Bank and the World Bank are actively engaging in supporting Uzbekistan's successful reform process and have rapidly increased their presence in the country.

• The economy of Uzbekistan was formerly associated with a Soviet-style command economy, with a slow transformation to a market economy. However, in recent years and since the election of President Shavkat Mirziyoyev the company has seen rapid economic and social reform, aimed at boosting growth and transforming Uzbekistan into a true, modern market economy.[17] International Financial Institutions, including EBRD, Asian Development Bank and the World Bank are actively engaging in supporting Uzbekistan's successful reform process and have rapidly increased their presence in the country.

Uzbekistan is a major producer and exporter of cotton, and bans on cotton import were implemented in the early 2010's due to international human rights concerns. However, in 2022, the Cotton Campaign and other agencies, including the US Government, lifted all bans on the import of Uzbek cotton. Uzbekistan is also a big producer of gold, with the largest open-pit gold mine in the world. The country has substantial deposits of silver, strategic minerals, gas, and oil.

• Uzbekistan is a major producer and exporter of cotton, and bans on cotton import were implemented in the early 2010's due to international human rights concerns. However, in 2022, the Cotton Campaign and other agencies, including the US Government, lifted all bans on the import of Uzbek cotton. Uzbekistan is also a big producer of gold, with the largest open-pit gold mine in the world. The country has substantial deposits of silver, strategic minerals, gas, and oil.