12:55 / 18.10.2019
Uzbekistan may be included in Global Competitiveness Index from 2021

Uzbekistan can be included in the Global Competitiveness Index from 2021, the press service of the Finance Ministry reports.

Photo: Getty Images

The Global Competitiveness Index (GCI) of the World Economic Forum (WEF) assesses the economic potential, as well as the ability of the state to provide a certain standard of living for citizens. The indicator, in turn, demonstrates the degree of efficiency in the use of available resources by the state.

Currently, the Ministry of Finance, together with representatives of the WEF are working on the inclusion of the republic in the GCI. WEF representatives confirm that the procedure will take a long time, due to the following reasons:

- At the first stage, by January 1, 2020, the WEF chooses for cooperation one of the non-governmental research institutes, private universities or agencies, whose activities are carried out in Uzbekistan. Organizations selected by the GCI should conduct a series of surveys among representatives of small business, large corporations, joint-stock companies, as well as agencies (branches) of foreign companies operating in Uzbekistan;

- The WEF partner organization in Uzbekistan should report on the results of the WEF surveys conducted in 2020;

After completing the above procedure and submitting reports, Uzbekistan can be included in the GCI from 2021.

Firstly, the WEF should analyze the reliability of the survey results and closeness of them to the real indicators of Uzbekistan.

Secondly, experts need to observe and analyze any changes in these indicators over 2 years.

Taking into account the fact that the process of accession of Uzbekistan to the GCI takes two years, it is expected that the country will join the GCI from 2021 subject to the above conditions for cooperation with the World Economic Forum.

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