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H.e. Islam Karimov the President of the republic of uzbekistan delivered a keynote speech at the extended session of the cabinet of Ministers on January 16, 2016. He highlighted uzbekistan's socio-economic achievements during 2015 and the future targets for 2016. He also outlined his government's important priorities of economic program for the year 2016.
He summarized the far-reaching results of different series of structural reforms initiated during 2015 which successfully protected the interests of small business and private enterprises. The role of private ownership has been institutionalized as foremost priority due to which government's role, utility and share has also been diminished. I personally think that due to these short and long terms socio-economic reforms and introduction of so many regulatory organizations, uzbekistan has become the role model for the region and for the world to follow. Its economy is now knowledge based. It is now smarter.
Moreover, appropriate conditions for privatization of government assets to foreign investors proved great successful during 2015 which also created some of 22,000 new jobs. The government of uzbekistan rightly opted for "Sell-off" options for the sick state-ow ned un its and unused properties to private investors and utilized the financial resources in different productive channels during 2015. It also offered for sale its different enterprises through sto ck exchange i.e. "Sal e of Share". By freeing more than 120 hectares of land and its allocation to e ntreprene urs it further enhanced production capabilities and profitability.
It is amazing that despite weak regional economic prospects and ongoing economic and financial crises, the macro-economy of uzbekistan remained strong, stable and sustainable during 2015. It achieved one of the highest GDPs not in the region but also in the world during 2015 which was achieved with the help of meaningful structural reforms and interactive regulatory bodies.
Introduction of unlawful interference of law enforcement agencies into supervisory and administrative structures of entrepreneurial activities had been marginalized which paid diversified dividends in terms of greater business activities and registration of new businesses in the country during 2015. lawful rights of private property ownership were guaranteed by reinforcing the role of judicial authorities which ultimately further enhanced their activities. Moreover, to establish social nets of micro-firms, small businesses and owner-operated farms in...