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Third International Ratings Forum was held

2022-05-07 | Society

On the 7th of May, the Third International Ratings Forum was held in Tashkent.

This Forum was mostly focused on the impact of economic reforms in Uzbekistan on the country's position in the global international ratings. The Forum started with the Opening Ceremony and then followed by sessions related to environmental issues, prospects of developing the digital economy, social awareness, economic challenges in the reform agenda and rule of law and anticorruption. Listed sessions were held by expert economists as well as by public officials, where they highlighted efforts of the government in each mentioned sector, talked about the challenges that they are facing and suggested possible solutions. Moreover, in Q&A sessions, speakers were asked different questions by the audience, which were followed by detailed answers by them.

In this regard, there were some worthy reasons for choosing these topics to discuss with the audience. In the session of environmental issues, it was highlighted that the environment is an important issue even when society is faced with economic crises and unending social problems. Regarding the session of Digital Economy, the challenges, opportunities and importance were talked about. In general, digitalization provides fundamental transformations in all spheres of human life and activities.

Session “Creating of new opportunities through social awareness” was one of the most informative sessions in the Forum, as it captured the problems that are arising in our society nowadays. In addition, Improving the quality of life of the population is one of the priority areas of the socio-economic policy of the Republic of Uzbekistan.  

In the next “Economic Challenges in the reform agenda” session participants agreed that Uzbekistan has to continue creating better investment and business climate, effective market mechanisms. So far, an outstanding progress in economic reforms can be seen. To name a few, liberalization of the foreign exchange market, issuance of debut Eurobonds, privatization of state assets, elimination of a number of administrative barriers, tax reform, reduction of a number of administrative costs of doing business.
After completion of the event, we can claim that all the experts and government officials have shown their high engagement in the prosperity of Uzbekistan. This Forum was a big chance for local and foreign officials to exchange their opinions within the sector of economy. Furthermore, this Forum carefully blended and balanced the best of many kinds of organizations, from both the public and private sectors, international organizations and academic institutions.

Source: Ministry of Finance of the Republic of Uzbekistan