Regulatory Reforms in Uzbekistan: Implications for Indian Investors.

Abstract

After liberalizing its economy in 2016, Uzbekistan has emerged as one of the most dynamic investment destinations in Central Asia, the country is undergoing significant regulatory reforms since liberalization of economy to attract foreign direct investment (FDI), and to align the local businesses with global business practices. These regulatory reforms present both opportunities and challenges to the Indian investors, across various sectors such as education, pharmaceuticals, information technology, renewable energy, and agricultural products processing. This study attempts to explore the trajectory and implications of Uzbekistan’s regulatory reforms while focusing on their relevance to Indian businesses. The study draws on data from the World Bank, UNCTAD, WITS, and government sources like published reports. This research does an analysis of sector-specific policies, the legal frameworks, and institutional mechanisms for investment facilitation. This study also assesses the enabling environment created through the reforms in fields of taxation, investment laws, visa regulations, and free economic zones. Through sectoral case studies and comparative analysis, this study identifies strategic insights and makes recommendations for Indian firms that seek to navigate Uzbekistan’s constant evolving regulatory landscape.