DUBAI, UAE, November 18, 2022 /24-7PressRelease/ — Whiteshield, a global strategy and public policy advisory firm, participated in the second annual Uzbekistan Economic Forum, which was held recently, at the Silk Road city of Samarkand, Uzbekistan. Over 1000 participants including the world’s most prominent economists, investors, and international experts, as well as representatives from Uzbekistan’s leading public and private sector companies, participated in the event.

The forum, which was held under the theme ‘People at the Heart of Economic Reforms’, served as an ideal platform for several panel discussions focused on Uzbekistan’s growth in creating an economy for the future, with topics including green economy transition, financial market development, trade connectivity, industrial policy, cultural promotion, among others.

Whiteshield presented its findings during a session titled ‘Making Reforms Happen in Uzbekistan: The Role of International Ratings and Indices’ as part of its efforts in supporting of the Government of Uzbekistan’s efforts in enhancing its position in international rankings.

Irina Bokova, Board Member at Whiteshield, and former Director-General of UNESCO said: “Whiteshield’s operates with a people-centric approach to public policy. The rating project presents an exceptional opportunity for Whiteshield and the Government of Uzbekistan to collaborate in delivering whole-of-country reforms that can improve the lives of its citizens.”

Odilbek Isakov, Deputy Minister of Finance, Government of Uzbekistan, said: “The Ministry of Finance is working closely with Whiteshield on the ratings project, and the key insight we have received suggests the need for prioritising the most important rankings and indicators. The next stage is to ensure that Whiteshield’s policy recommendations will help us improve Uzbekistan’s position in international rankings with high speed and impact.”

As part of its efforts to support Uzbekistan, Whiteshield evaluated the country’s performance on 26 ratings. During the session, it suggested the government to focus on enhancing Uzbekistan’s position in top 10 rankings, including the Global Innovation Index, Worldwide Governance Indicators, and Human Development Index, amongst others, that have high potential on boosting the country’s GDP and Social Progress Index.

Antonio Somma, Partner and Director at Whiteshield said: “Modernisation programs to boost economic growth can create significant differences in a country’s economy. The constant efforts of Uzbekistan to bolster its economy have delivered some of the anticipated results, however, the commitment of the country has raised higher expectations. The government of Uzbekistan has been actively working towards its goal and the next step of the country’s market and institutional reforms is focused on enhancing the competency of labour, capital, land, and resource markets. Aligning with the country’s goals, Whiteshield is also accelerating its efforts to gain a sustained economic transformation and these ambitious reforms will support Uzbekistan to become a more competitive, open, and thriving society.”

Currently, Whiteshield is evaluating Uzbekistan’s economic and social progress using international ratings in order to develop recommendations for targeted policy reforms. The reforms are expected to reinforce the country’s socioeconomic fundamentals that come in line with the Development Strategy of New Uzbekistan for 2022-2026.

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