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Uzbekistan Quality Job Creation as a Cornerstone
for Sustainable Economic Growth
Country Diagnostic Study
Uzbekistan has achieved sustained growth through its gradual transition to a market-
based economy through cautious economic policy reforms. Despite its gradual approach 
to development challenges, the country experienced the smallest output decline among 
former Soviet economies and enjoyed high rates of economic growth from 2004 to 2015, 
largely driven by the high prices of its major export commodities. However, the drop 
in the global prices of many key commodities in recent years have severely impacted 
Uzbekistan’s economy. Under these circumstances, the new government introduced 
major reforms. The pace of reform is unprecedented. The government has formulated its 
long-term economic strategy in its Vision 2030, which aims to double the country’s gross 
domestic product by 2030 through a program of economic diversification. 
This book analyzes how Uzbekistan can boost sustainable economic growth to create 
more and better jobs. It considers how the country can consolidate achievements from 
recent policy reforms and maintain reform efforts to accelerate sustainable growth. Policy 
recommendations cover fostering macroeconomic stability, increasing investment in 
physical infrastructure, enhancing human capital, improving firms’ access to finance, and 
lowering barriers to international trade and foreign investment inflows.
About the Asian Development Bank
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable
Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. 
Established in 1966, it is owned by 68 members—49 from the region. Its main 
instruments for helping its developing member countries are policy dialogue, loans, 
equity investments, guarantees, grants, and technical assistance.