00:11this is a country with a young growing population with a lot of entrepreneurs with a lot of
00:16dynamism is increasing transparency credibility of the reform agenda credibility of the data
00:23and so on and that is the thing that brings investors
00:31uzbekistan began changing the foundations of its economy in 2017. it liberalized the foreign exchange
00:38market opened further to trade and investment and gave private enterprises more room to operate
00:44banking and payment systems also begun to modernize official data put year-on-year
00:50growth at 8.5 percent in the first half of 2026 over the same period investment reached approximately
00:5824.6 billion euros while exports totaled around 12.7 billion euros the government says the next
01:07stage is to spread that momentum more widely across the regions the decades transformation can be traced
01:26through three parts of economic life capital work and everyday money capital is the first test how
01:33investment enters the country reaches businesses and becomes productive activity foreign direct
01:39investment rules from around 7.9 billion euros in 2021 to approximately 33.8 billion euros in 2025
01:49according to the ministry of economy and finance foreign exchange liberalization also widened companies
01:55access to currency for international transactions
02:13the financial framework has changed too as the central bank is moving towards inflation targeting
02:20designed to make monetary policy more predictable and better equipped to respond to economic shocks
02:25uzbekistan central bank has developed very good framework for inflation targeting it is still in the
02:33transition period to that because it requires a lot of the reforms in many directions but those reforms
02:40are ongoing these reforms have changed how capital and money moves through the economy the next question is how
02:48further change reaches beyond financial institutions a decade of reform cannot be judged only by investment
02:55flows or growth rate a deeper test is whether businesses can grow jobs become more stable and more
03:02workers gain protections of formal employment reducing informal employment has therefore become another part
03:10part of the government's economic program
03:16of the government's economic program
03:27normal employment can provide access to pensions social insurance and labor protections a labor code adopted in
03:39in 2023 also introduced equal pay for work of equal value UNDP says entrepreneurship programs have
03:47also sought to widen economic opportunities for women
03:57change is also visible in everyday payments central bank and asian development bank data shows that more
04:04than seven in ten adults made or received at least one digital payment in 2025 compared with 39 percent in
04:112021
04:12mobile banking cards and qr codes have expanded while cash remains part of daily life
04:20central bank проводит постепенные реформы направлены на развитие платежной экосистемы
04:27флагманскими проекта за последние годы это создание системы единого qr code universal qr code
04:35nearly a decade after the opening began as pakistan's economy is more marked-based more connected to
04:41international finance and increasingly digital the next phase is to bring those changes to more businesses
04:47workers and households across the country.
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