A delegation from the World Bank and the International Finance Corporation (IFC) is visiting Tashkent from January 27 to 30, 2025 to prepare the Country’s Private Sector Diagnostics (CPSD).
The main purpose of the visit was to consult with governmental authorities, private sector representatives, investors and experts to identify the principal barriers and constraints that hinder private investment in Uzbekistan’s economy, and to develop specific measures to address them. The World Bank Group’s Private Sector Diagnostics is an important analytical tool that seeks to identify and address problems that impede private investment.
An overall assessment of present conditions will be conducted under the CPSD, identifying key barriers including regulatory and legal restraints, lack of financing, and challenges related to transaction costs and access to financial instruments.
On January 28, 2025, a delegation from the World Bank Group’s Uzbekistan Private Sector Diagnostics visited the office of Uzbek Leasing International A.O.
The following specialists attended the meeting from the World Bank Group Delegation:
- Ekaterina Levitanskaya, Senior Financial Sector Development Specialist, Program Manager;
- Utkir Umarov, Research Analyst.
During his presentation, Mr. Zafarjon Mustafayev, Chief Executive Officer of Uzbek Leasing, talked about the leasing market of Uzbekistan, about state and private «players» of the industry, and about the proposals delivered to the governmental authorities to improve the leasing legislation of the country. One of the points of discussion was the identification of barriers that hinder the development of leasing in Uzbekistan and attraction of investments into this sector. In particular, they also discussed the leasing sector supportability, which takes on enormous importance in the development of Uzbekistan’s economy, providing enterprises with access to state-of-the-art equipment and technologies without the need to seek large capital funds at a time.
During the meetings, the World Bank Group delegation also discussed the Government of Uzbekistan’s plans for private sector development, including the arrangement of favorable conditions for attracting private investment in key sectors of the economy. The government acts properly to improve the investment environment, and an important part of such efforts is support for the leasing sector, which will provide enterprises with the necessary tools for growth and modernization. Uzbek Leasing International A.O. expresses its gratitude to the delegation of the World Bank and IFC for in-depth analysis of ongoing issues and operational guidelines for improving the investment climate in the leasing sector.
We are positive that the implementation of the proposed measures will be a major measure in creating a more transparent, efficient and attractive investment environment for private investors.
