Speaking at the Tashkent International Investment Forum, the President of the European Bank for Reconstruction and Development, Odile-Reno Basso spoke about the role of small and medium-sized enterprises in creating sustainable jobs and economic development in Uzbekistan addressing the plenary session and mentioned three main areas of focus of the organization in Uzbekistan.
The Tashkent International Investment Forum kicked off on March 24.
“The European Bank for Reconstruction and Development has invested $ 3.3 billion in the Uzbek economy over the past five years, and $ 600 million last year alone. We are also working to support the private sector and conduct business trainings.
“Speaking of plans, we need to continue to work together over the next five years on the basis of a reform strategy. We need to focus on 3 main areas.”
“The first is to create sustainable jobs. In this regard, we plan to conduct business trainings and provide financial assistance to support small and medium-sized businesses. Over the past year, the share of entrepreneurs working with us has increased by 25 percent. Privatization is also crucial in creating sustainable jobs, especially in the banking sector. As a result of privatization in this area, funding for the real economy will increase. It is also possible to significantly improve the business environment in the country by creating conditions for a direct investment environment. Through a transparent transformation, the country can attract better investors.”
“The second is to improve the performance of citizen service systems and create a healthy green environment. I think that the reforms implemented in Uzbekistan over the past years have been very effective and surprising. The influx of private investors, in turn, encourages the influx of modern technology into the country. We are working with Navoi and Almalyk Mining and Metallurgical Combines in this direction, and in the future we intend to expand this activity in the regions and cities.”
“The third is digitalization and enhancing competitiveness. We are working in the field of digitalization, primarily in the field of education. The creation of high-speed Internet in Central Asia will play an important role in the development of future generations and countries. The introduction of digital technologies is also very important in the field of infrastructure and logistics.”
“In conclusion, I would like to say that we live in a time when global risks are high. However, I hope that we will do our best to support our partners in Uzbekistan and solve potential problems in logistics and other areas, and find new directions together,” said the EBRD President.
