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The View | Uzbekistan’s reform and economic ambitions being fuelled by Chinese investment
- President Shavkat Mirziyoyev’s re-election gave him a seven-year term and showed his programme of reform will continue for the foreseeable future
- This has brought Uzbekistan expanded economic cooperation with China, which is increasing its investment in Central Asia and is looking for stable partnerships
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Uzbekistan President Shavkat Mirziyoyev’s Strategy for the Development of New Uzbekistan and China’s investment policy in Central Asia are working together to strengthen cooperation between the two countries in Central Asia.
Mirziyoyev won the presidential election in July, receiving more than 87 per cent of the vote. He returned to the office after becoming president for the first time in 2016 and being re-elected in 2021. This year’s election outcome matters to China, which has been active in Central Asia since 2013 as part of its Belt and Road Initiative.
The re-election effectively cements the ongoing partnership between the two countries. With a seven-year term ahead of him, Mirziyoyev will be able to roll out a new set of reforms and continue implementing his liberalisation goals, signalling that investment from China will keep coming into the country.
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At the end of July, Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov met Yu Jun, China’s ambassador to the country. During their meeting, they discussed the implementation of the agreements reached at the China-Central Asia summit, further opportunities for bilateral trade and economic and financial cooperation, among other topics. There are multiple joint projects planned between the two countries, ranging from energy to transport and agriculture.
As Central Asia’s most populous country, Uzbekistan has the foundation to become a regional economic powerhouse. It is also the only Central Asian republic to share borders with every country in the region. This geographical position, in combination with reforms in Uzbekistan, has brought about expanded economic cooperation with China, which is looking for stable partnerships.
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Mirziyoyev has implemented sweeping political, economic and social reforms in the country since taking office in 2016. The ban on child labour and forced labour in the cotton industry has improved Uzbekistan’s reputation abroad and put an end to one of the country’s most notorious practices.
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