FACTORS OF BUSINESS ATTRACTIVENESS OF UZBEKISTAN
Implementation of five basic principles of transition to a socially-oriented free market economy during the years of independence has enabled the country to achieve desired results , provide sustainable economic growth and improve national welfare in a short historical period . As a result of reforms , the structure of the economy was radically changed , a reliable legal framework for dynamic economic development and favourable investment climate were created .
This is supported by such macroeconomic indicators as annual Gross Domestic Product ( GDP ) growth of Uzbekistan exceeds 8 % over the last 11 years , which is one of the highest rates in the world . The gross domestic product of the country increased by 7,8 % in 2016 . Generally , the GDP has increased by 5.5 times during the years of independence , while GDP per capita ( PPP ) has risen by 4 times . Since 2005 , state budget execution reached annual surplus contributing to the strengthening of macroeconomic stability .
Based on deep analysis of trends in global economy and realistic assessment of our resources and capabilities , Uzbekistan had set a target by 2030 to increase GDP of the country by at least 2-fold . Due to drastic structural reforms the country intends to achieve accelerated growth of industry by bringing its share in GDP to 40 % against 34 % in 2016 . Since 2005 , Uzbekistan maintains a positive trade balance , government budget surplus and balance of payments . From early days of independence , leadership of the Republic of Uzbekistan adopted a policy on attracting the most advanced technologies and foreign investments in the country . To this end , regular and systemic work is carried out to improve business environment and enhance the country ’ s investment attractiveness . Effective from 1 October 2001 , a new simplified procedure that provides a onewindow registration of enterprises for state registration applies in respect to enterprises operating in the Republic of Uzbekistan . On the other words , all correspondence by newly
Uzbekistan profile | January - 2017 www . uzbekistan . be
1