The Tashkent International Investment Forum held a panel session on "Compact and Efficient Government for Economic Development".

The event was moderated by Jason M. Chung, US Ambassador to the Asian Development Bank.

The speakers of the session were Shukhrat Vafaev, Director General of the Agency for Strategic Reforms under the President of the Republic of Uzbekistan, Aziza Umarova, Head of Delivery Unit, Agency for Strategic Reforms under the President of the Republic of Uzbekistan, Ezel Agaoglu, General Manager at Coca-Cola Uzbekistan - CCI Uzbekistan, Kanan Jalilov, founder and CEO of Trade House of Uzbekistan in Azerbaijan and AKI INTER GROUP UK LTD.

During the session, experts highlighted the importance of the improvement of human capital, which is one of the key determinants of state development, as well as the interaction between the government and business. Speakers also raised issues related to the right way to build a dialogue between business and government.

It was emphasised that today the government is working on the implementation of international standards, reduction of the state's share in business, and providing SMEs with various benefits and preferences. The aim is to become true partners with private business.

For example, Ezel Agaoglu noted that he observed a friendly atmosphere between the private sector and the government in Uzbekistan, which favorably affects the country’s economic development. He noted that the government considers clients’ needs and attracts investments to the country, providing confidence and transparency to investors. Ezel Agaoglu also mentioned that proper use of resources and modern communication channels would create favorable conditions for business development.

Kanan Jalilov spoke about why he sees Uzbekistan as a good investment partner. The reason, among others, is that competition is starting to actively develop in the country, with more and more global players entering the market. "Uzbekistan is a really interesting country for investors," he said.

During the session, participants also discussed how modern means of communication help businesses and citizens interact with authorities. It was noted that the speed with which governments respond to external changes and requests from businesses and citizens is one of the key indicators of government performance. The experts also paid attention to the issues of administrative reform affecting the investment climate and economic growth in general.