The Roadmap for Sustainable Investment Policy Reforms in Uzbekistan (Roadmap) takes a strategic, long-term view of Uzbekistan’s investment climate while also offering practical recommendations for short- and medium-term improvements. It assesses the investment climate and the challenges and opportunities facing Uzbekistan in its reform efforts. The analysis covers the legal and institutional framework for investment, tax incentives, and measures to promote responsible business conduct. It also explores the trends and impacts of foreign direct investment (FDI) on Uzbekistan’s economy and society focusing on how investment can further support the green and digital economy and participation in global value chains.
The roadmap was prepared by OECD at the request of the Government of Uzbekistan, in cooperation with the Asian Development Bank (ADB) and the Delegation of the European Union (EU) to Uzbekistan. The roadmap draws on the OECD Policy Framework for Investment, the OECD FDI Qualities Policy Toolkit, the OECD Guidelines for Multinational Enterprises and the ADB’s analytical tools from the Economic Research and Development Impact Department (ERDI). The roadmap was supported financially by the ADB, the Delegation of the EU to Uzbekistan, and Switzerland.
The roadmap was discussed in the OECD Investment Committee on 21 May 2025 in the presence of H.E. Deputy Prime Minister Mr. Jamshid Khodjaev and approved on 3 November 2025. The process was led on Uzbekistan’s side by the Ministry of Investment, Industry and Trade (MIIT) and supported by an interministerial working group to ensure a whole-of-government approach. Guidance and support from MIIT’s Aleksey Sim and Tengiz Asanov, respectively Head and Deputy Head of the Investment Climate and Ratings Department, as well as from Sardor Temirov, Anvar Tokhirov, Amirkhon Ozodov, and Saidolim Qodikhujaeyv, were instrumental for the successful completion of the roadmap. The report reflects insights from extensive stakeholder consultations involving government officials, foreign government representatives, development partners, the private sector, civil society organisations, and think tanks.
The roadmap was prepared by a team led by Fares Al-Hussami and including Alessandra Mistura, Zoé Ryan, Kerstin Schopohl, Rania Ampntel Chafiz, Irina Grigoryeva, and Stratos Kamenis of the OECD Investment Division, Santhosh Persaud and Dylan Van De Ven of the OECD Responsible Business Conduct (RBC) Centre, Peline Atamer and Luke Mackle of the OECD Eurasia Division, Rolando Avendano and Pramila Crivelli of the ADB Economic Research and Development Impact Department, Sajid Ghani, ADB Consultant, and Derek Carnegie, external consultant. Stephen Thomsen initiated the discussion with the government in 2024 then as Deputy Head of the OECD Investment Division and contributed as an external consultant in 2025. Clemente Rojas Giacobbe, Laura Kuusela, Adam Elsheikhi, Sofia Vaga Angulo, and Kiara Blome provided inputs. William Tompson, Grégory Lecomte, and Céleste Laporte-Talamon of the OECD Eurasia Division provided strategic guidance and support. Christina Pak of the ADB Office of the General Counsel, Alexandre de Crombrugghe, Hélène Francois, Iris Mantovani, Fernando Mistura, Faraz Moosa, and Joachim Pohl of the OECD Investment Division, Tihana Bule of the OECD RBC Centre, and Anette Magnusson, ADB external consultant, provided feedback on specific chapters. Overall guidance was provided by Ana Novik and Martin Wermelinger, respectively Head and Deputy Head of the OECD Investment Division. Lucinda Pearson and Meral Gedik prepared the document for publication.
The information in this report is current as of September 2025.