Theme Our President The president of the Republic of Uzbekistan

D ear ladies and gentlemen!
Dear guests!
First of all, I give a warm welcome to all participants at the First Plenary Session of the Foreign Investors' Council.
It gives me great pleasure to see the leaders of the world's leading companies and financial institutions - our dear friends and partners - present at today's event.
I would like to thank the President of the European Bank for Reconstruction and Development H.E. Odile Renauld-Basso for facilitating today's event which is of great socio-economic importance.
Dear friends!
The world is undergoing major global change today.
The global community is facing new challenges and tribulations before it has recovered from the pandemic. There are growing confrontations and conflicts between different forces.
In such really difficult circumstances, the role of a close partnership based on mutual trust and respect multiply increases.
That is why I believe that today's meeting of the Foreign Investors' Council is of particular importance.
Dear participants of the event!
As you know, over the last few years we have been implementing large-scale reforms and transformations in Uzbekistan.
One of the main goals of the reforms we have defined is the openness of the national economy and the creation of all the necessary conditions for its integration into the global economy.
To this end, we have liberalised the foreign exchange market, opened up access for private investors to sectors such as energy, exploration, chemicals and petrochemicals, medicine and education.
The fight against corruption has become a top priority of state policy in our country. A separate agency has been created to ensure systematic work in this area.
We have taken revolutionary decisions to support private business, the driver of today's economy. We abolished more than two hundred licences and permits.
The total number of taxes has been reduced from 13 to 9, and the rates of some of them have been halved. From next year, the VAT rate will be reduced from 15% to 12%.
We are very aware of how important foreign investment is for the development of our economy.
In order to provide investors with legal protection and to clearly define their legal status, we have adopted a separate law on investment.
We have also introduced the institution of Business Ombudsman under the President of Uzbekistan.
These measures we have taken have helped the national economy grow even against the backdrop of global turbulence and crises.
Thus, in the midst of the pandemic, and despite the difficult situation in foreign markets, we have maintained positive economic growth.
Last year the figure exceeded 7%. This year our economy has also continued its growth (over 5%).
I would like to take this opportunity to express my deep gratitude to all the business people who have supported our reforms and continue to walk on this path with us.