World Bank Document

particular to create 500,000 jobs annually.  These objectives are consistent with the WBG’s 

twin goals of eliminating extreme poverty and increasing the well-being of the bottom 40 percent 

of the population. 

 

28. 

Following the 2014/15 parliamentary elections and the formation of a new 

government, the Cabinet of Ministers approved a Program of Action to achieve its strategic 

objectives for economic development.

7

 It establishes seven objectives for 2015 and subsequent 

years, as follows: 

 

(a) Increase the economy’s competitiveness, through structural reform, modernization and 

diversification of industry, introduction of information and communication 

technologies, and strengthened macroeconomic stability; 

                                                           

7

 Government of Uzbekistan, Program of Action of the Cabinet of Ministers, January 23, 2015: 

http://www.gov.uz/en/pages/perspective_program  

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11 

 

(b) Provide complete freedom for private sector development, by removing all obstacles 

and restrictions; 

(c)  Reduce government involvement in the economy, to a strategically and economically 

reasonable size; 

(d) Strengthen corporate governance, through a radical change in principles and 

approaches and the adoption of international standards; 

(e)  Deepen domestic industrial production through the expansion of inter-sectoral 

industrial linkages; 

(f)  Strengthen infrastructure, particularly information, communications, and transport 

infrastructure; and 

(g) Create conditions for rapid job creation, particularly for graduates of professional 

colleges and universities.