Uzbekistan Quality Job Creation as a Cornerstone for Sustainable Economic Growth

Aigerim Yergabulova
is a PhD student at the Center for Regional Economic 
Policy (VIVES), University of Leuven. Her research interests include firm 
dynamics, global market power, and the role of firm size distribution in 
aggregate fluctuations. She holds a Master’s degree in economics from 
Nazarbayev University (Kazakhstan) and a BSc in environmental science from 
the University of London.
Author Profiles

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Abbreviations
ADB 
— Asian Development Bank
BRI 
— Belt and Road Initiative
CALISS — Central Asia’s Labor and Skills Survey
CAREC — Central Asia Regional Economic Cooperation
CBU 
— Central Bank of Uzbekistan
CEPII 
— Centre d’Etudes Prospectives et d’Informations Internationales
CIAC 
— Credit Information Analytical Center
CIS 
— Commonwealth of Independent States
CVET — continued vocational education and training
DFS 
— digital financial services
DMC 
— developing member country
ECI 
— Economic Complexity Index
ERCD — Economic Research and Regional Cooperation Department, ADB
EREA — Economic Analysis and Operational Support Division, ADB
EU 
— European Union
FDI 
— foreign direct investment
GDP 
— gross domestic product
GVA 
— gross value added
HEI 
— higher-education institution
ICT 
— information and communication technology
JICA 
— Japan International Cooperation Agency
PPP 
— public–private partnership
PRC 
— People’s Republic of China
PV 
— photovoltaic
R&D 
— research and development
RRDC — resource-rich developing country
RRF 
— Republican Road Fund
SDCC — Sustainable Development and Climate Change Department, ADB
SMEs 
— small and medium-sized enterprises
STEM — science, technology, engineering, and mathematics
TVET — technical and vocational education and training
URM 
— Uzbekistan Resident Mission, ADB
UTY 
— Uzbekiston Temir Yullari—Uzbekistan Railways
VAT 
— value-added tax
WTO — World Trade Organization

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Weights and Measures
GWh — gigawatt-hour
km — kilometer
kV 
— kilovolt
kWh — kilowatt-hour
m
3
— cubic meter
MW — megawatt
TWh — terawatt-hour

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Executive Summary
Key elements of quality job creation include providing macroeconomic 
stability, reducing underinvestment in physical infrastructure, enhancing 
human resources, improving access to finance to promote private sector 
development, and lowering barriers to international trade and foreign 
investment inflows. This Country Diagnostic Study explores ways Uzbekistan 
can best (i) consolidate achievements from its recent policy reforms that 
started in mid-2017, and (ii) maintain reform efforts aimed at accelerating 
sustainable economic growth to create more and better-paid jobs.