World Bank Document

47. 

Finally, efforts aimed at broadening the policy dialogue on economic governance are 

crucial.  Economic governance is reflected not only in corporate governance and privatization 

activities, but also through policy dialogue on the transition to a more market-based economy. 

Uzbekistan’s challenge will be how to gradually liberalize its economy over the medium or long 

term, maximizing the positive and minimizing any negative impact on the poor and bottom 40 

percent of households. Phasing liberalization, creating the right incentives, and supporting the most 

                                                           

9

 

Following the issuance of Presidential Decrees #4720 and #2414, dated April 24, 2015 and September 30, 2015, respectively, 

former Higher School of Business under the Cabinet of Ministers was re-organized into the Center of Excellence on Corporate 

Governance. The main objective of the Center is to provide in-service training on corporate governance for managerial staff of 

state-owned enterprises, joint stock companies and other business entities.

 

 

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19 

 

vulnerable will help create the critical building blocks for a successful transition. Finally, 

addressing these critical policy questions will require an enhanced evidence base of micro- and 

macro-economic data. Additional issues in economic governance include investment climate 

reform and MSME development with priorities on strengthening government accountability to 

business service delivery, leveling the playing field among firms, and addressing corruption 

through reducing interactions between the state and the private sector.