Uzbekistan improves its position in the Index of Economic Freedom

The Heritage Foundation (USA) announced the 2020 Index of Economic Freedom, in which Uzbekistan is ranked 114th with 57.2 points (to compare, in 2019 it was in 140th with 53.3 points), the Ministry of Finance reports. 

Uzbekistan showed the highest growth among the CIS countries compared to last year, climbing 26 lines.

This index is closely tracked by foreign investors, and improvement in it will have a positive impact on the business climate and may also lead to an increase in the flow of foreign direct investment.

The Index of Economic Freedom estimates countries around the world on a scale from 0 (lowest) to 100 (highest) in four main areas, divided into 12 composite indicators, such as Property Rights, Judicial Effectiveness, Government Integrity, Tax Burden, Government Spending, Fiscal Health, Business Freedom, Labor Freedom, Monetary Freedom, Trade Freedom, Investment Freedom, Financial Freedom.

The highest growth was seen in the following areas:

• Investment Freedom - 20 points (+10 points);
• Financial freedom - 20 points (+10 points);
• Property rights - 59.1 points (+9.3 points).