Independence is the basis of achievements of economic development of Uzbekistan

Ключевые     слова:     экономика,     нормативно-правовая     база, макроэкономические показатели, инвестиция, Современная туристическая инфраструктура

The implementation of the five fundamental principles of the transition to a socially-oriented free market economy in the process of reform enabled the country, in a short historical period, to achieve high results in achieving its goals and ensure an annual sustainable economic growth and improvement of the wellbeing of citizens. As a result of the reforms, the structure of the economy was radically changed, a reliable regulatory and legal framework for its dynamic development and a favorable investment climate were created.

This is evidenced by such macroeconomic indicators as the increase over the years of independence of the national economy by 5.5 times, the volume of gross domestic product per capita at purchasing power parity by 4 times. The implementation of the state budget with a surplus since 2005 has been achieved, which contributes to the strengthening of macroeconomic stability.

The formed investment environment and measures to stimulate investments, guarantees for the protection of investors' rights contributed to the growth of the volume of accumulated investments, equivalent to $ 190 billion, of which over $ 65 billion - foreign investment.

In turn, as a result of investments in production sectors of the economy, completely new industries have been created in the country, such as automotive, oil and gas chemistry, oil and gas and railway machinery, modern building materials, consumer electronics, pharmaceuticals, modern food and textile industries, . They produce more than 60% of all manufactured in the country industrial products with high added value, which is competitive in the world market.

In particular, in the automobile industry of the Republic today there are about 200 enterprises, on which more than 25 thousand people are directly employed. Among them, successfully operates a number of joint ventures created with the participation of such world-famous automotive companies as General Motors, MAN, Isuzu, Itochu.

At the same time, in recent years, Uzbekistan has been actively implementing program measures for the modernization, technical and technological renovation of the economy, increasing the efficiency of production, which resulted in a 2.2-fold increase in labor productivity in the period from 2000 to 2014.

An important place in the implementation of projects for the modernization and technical re-equipment of the basic sectors of the economy, the implementation of effective structural and investment policy is taken by the Fund for Reconstruction and Development of the Republic of Uzbekistan, established in 2006, whose authorized capital is currently $ 25 billion.

The Fund's active participation in the preparation and implementation of new projects has already attracted more than $ 10 billion in foreign investments and loans in the form of co-financing from the World Bank, Asian Development Bank, Islamic Development Bank, financial institutions of Japan, Korea, China, other foreign banks and investors.

As a result of implemented measures to strengthen the country's export potential, the volume of exports from Uzbekistan increased more than 30-fold. Over the past 17 years, despite global crises, Uzbekistan has consistently maintained a positive trade balance.

As part of the development and updating of air transport in Uzbekistan, a new complex of technical servicing of Western-made aircraft has been created, airports have been reconstructed, and a navigation system has been improved throughout the territory of Uzbekistan, which is recognized as one of the best air traffic control systems in the CIS. Today, the aircraft fleet consists exclusively of modern aircraft of the world's leading manufacturers of Boeing and Airbus. Aircraft with the flag of Uzbekistan aboard land in more than 40 airports in Europe, Asia and North America.

The structural transformation and diversification of the economy is supported by the steady growth of the banks' resource base, the expansion of the share of long-term sources of financing and the increased role of commercial banks in these processes. If in 1990 for loans for more than three years accounted for about 24% of the total loan portfolio, today their share is 80%.

As a result of a steady increase in the aggregate capital of commercial banks in the country and a balanced portfolio management policy, the capital adequacy ratio is now three times higher than the international standards of the Basel Committee on Banking Supervision.

The most promising and dynamically developing branch of Uzbekistan's economy has become the services sector. If in the early 1990s the share of services in the economy was about 33%, now at the expense of this sphere 54% of GDP is created. At the same time, new modern types of services have appeared, the share of which in the total volume exceeds today 21%. Among them are digital information and communication technologies, mobile communication services, computer programming services, consulting, legal and audit services, real estate and brokerage services, private medicine, auto insurance, new types of financial services, including leasing, electronic banking and others.

The modern tourist infrastructure, established in the country in recent years, meets high international standards and receives positive feedback from foreign tourists visiting the country. The republic has a network of comfortable international-class hotels, more than 490 hotels and motels, more than 28,000 tourist campsites provide services to tourists at the level of international standards. Over 100 tourist routes have been created in all regions of Uzbekistan, aimed at acquaintance with unique historical, architectural ensembles and monuments, of which 140 are included in the list of historical sites protected by UNESCO.

The achievements and milestones achieved by Uzbekistan are widely recognized by the world community. In particular, in the World Economic Forum's ranking of countries with an accelerated economy, our country ranks 5th. Also, according to the published results of the World Happiness Index survey conducted by sociologists at Columbia University (USA) with the assistance of the United Nations, Uzbekistan ranks 44th among the 158 countries and the first among the CIS countries.

Summarizing the results of the passed stage, we can say with full confidence that the continuation of the implementation of the national model of economic reform and development will help achieve the goals set for the forthcoming period and solve the tasks of further deepening reforms and reforms aimed at sustained and steady growth of the economy and raising the level and quality of life Of the Uzbek people.

Used sources:

• 1.    The report of the President of Uzbekistan. I.A. Karimova at the meeting of the Cabinet of Ministers, dedicated to the results of the country's socioeconomic development in 2012 and the most important priority areas of the economic program for 2013.

• 4.    Alexey Kireev. International Economics. Part one. Moscow. International relationships. 2000

• 5.    Scientific and Practical Journal The market, money and credit, 12/2012.

.World economy. O.V. Kornienko. M: Peter. 2010.