On March 6, the Organisation for Economic Co-operation and Development (OECD), the European Union (EU) and the Asian Development Bank (ADB), in cooperation with the Government of Uzbekistan, launched the “Roadmap for Sustainable Investment Policy Reforms (RSIPR)” Project funded by the EU and ADB. The project will provide a comprehensive assessment of the investment framework currently in place in Uzbekistan. It will allow Uzbekistan to benefit from evidence-based and up-to-date analysis and tailored recommendations to improve the investment climate, support reform implementation, and maximise the development impact of foreign direct investment in the longer run, the Delegation of the European Union to Uzbekistan reported.
In his opening remarks, Mr Laziz Kudratov, Minister of Investments, Industry and Trade of Uzbekistan, thanked the EU and the ADB for their financial support and the OECD for sharing their expertise. He highlighted the relevance of the project given the country’s priority of attracting FDI.
Ms Charlotte Adriaen, Ambassador of the European Union to Uzbekistan expressed her enthusiasm for the kick-off of the RSIPR with the OECD and the ADB. She highlighted that Central Asia has become of strategic importance for the EU in recent years, and a region where positive developments can be observed. In Uzbekistan in particular, she praised the government’s resilience and efforts to advance the reform agenda. She mentioned the EU’s engagement with the country in a wide range of sectors, in the framework of the EU’s Global Gateway Strategy, the GSP+ and the WTO.
Ms Kanokpan Lao-Araya, ADB Country Director for Uzbekistan, praised the project as a good example of collaboration, both within ADB and with the OECD and the EU. As the bank will celebrate its 30 year-cooperation anniversary with Uzbekistan next year, ADB will continue supporting public sector participation to structural reforms, most importantly with SOE and financial market and infrastructure investment reforms.
The OECD and ADB will conduct the first taskforce and fact-finding meetings with government and other stakeholders in March 2024. The report and its final conclusions are expected to be launched at high level in mid-2025.
