World Bank named the most promising sectors for Uzbekistan's economy
According to a new analytical report by the World Bank, logistics, tourism, and pharmaceuticals are among the most productive sectors of Uzbekistan’s economy. This was reported by Zamin.uz.
If targeted reforms in these areas are successfully implemented, the country could create over 300,000 new jobs and attract billions of dollars in private investment. Experts identify these three areas as key drivers for diversifying the economy.
According to the World Bank’s conclusion, these sectors represent the best choice for attracting private capital and increasing employment from the standpoint of efficiency. Developing them serves not the state, but rather builds a healthy, private-sector-led competitive economy.
In logistics, the development of road freight transport and modern warehouse infrastructure was rated as the top priority. Efforts in this area are expected to attract over $1 billion in private investment and create nearly 108,000 new jobs.
To achieve this, land allocation and construction procedures must be simplified, and permits digitized. In tourism, Uzbekistan’s cultural and ecological potential remains underutilized.
According to estimates, this sector could attract more than $4 billion in direct investment and create up to 180,000 new jobs. Reforms should include improving land lease mechanisms and establishing a system for training skilled personnel.
The pharmaceutical sector was identified as a strategic growth point, with the development of local drug production playing an important role in ensuring economic stability.
Alongside the achievements made under Uzbekistan’s 2030 Strategy, systemic challenges remain that need to be addressed.
While reforms since 2017 have improved the investment climate, achieving global goals requires eliminating market-distorting monopolies that hinder healthy competition.
Additionally, training skilled specialists to meet labor market demands and further strengthening the role of the private sector in economic processes remain critical tasks.
