How is the New Uzbekistan being built?

 

In recent years, Uzbekistan has taken decisive steps toward economic openness, social justice, and technological development. The currency was liberalized, taxes were reduced, “green” energy expanded, and poverty was cut in half. At the Islamic Civilization Center in Uzbekistan, the exhibition “New Uzbekistan – The Foundation of the New Renaissance” presents decisions and figures reflecting these historic changes through tangible results and interactive solutions. The exhibition showcases the country’s economic, social, and technological transformations within a single, unified concept.

 

The past eight years of national development have, above all, opened the way to new economic relations and a new economic mindset. This period marked a phase of deep integration into the market economy, openness, and fundamental reforms based on the principles of social justice in Uzbekistan’s history. These changes can be clearly seen through concrete facts and evidence in the “New Uzbekistan - The Foundation of the New Renaissance” section of the Islamic Civilization Center museum.

 

A historic turn in the currency and financial system

 

In 2017, Uzbekistan fully liberalized its currency market. As a result, citizens and entrepreneurs gained the ability to buy and sell foreign currency through banks without restrictions for the first time. This decision not only ensured economic freedom but also significantly increased the inflow of foreign investment.

 

The tax system was also fundamentally reformed: personal income tax was reduced from 22.5 percent to 12 percent, social tax from 25 percent to 12 percent, and value-added tax from 20 percent to 12 percent. The number of taxes was reduced from 13 to 9. These changes eased the business environment and stimulated entrepreneurship.

 

Budget transparency and public participation

 

In recent years, openness and accountability in the budget system have reached an entirely new level. Between 10 and 30 percent of local budgets are now allocated with public participation. The fact that revenues from property and land taxes remain fully at the disposal of local budgets has strengthened the financial independence of regions.

 

Through the “Budget for Citizens” publication and the openbudget.uz portal, citizens gained the opportunity to directly monitor where and for what purposes their taxes are spent.

 

Foreign trade and investment: toward an open economy

 

The liberalization of foreign trade has turned Uzbekistan into one of the most attractive economic platforms in the region. Between 2017 and 2024, export volumes increased 2.2 times, while foreign trade turnover grew 2.7 times. Customs duties on 60 percent of goods were reduced to zero.

 

Investment agreements were signed with more than 80 countries. Across the country, 743 industrial zones were established, including 39 special economic zones, 503 small industrial zones, and 201 youth industrial and entrepreneurship zones.

 

Social protection and a systematic approach to poverty reduction

 

For the first time, a national poverty line was introduced in Uzbekistan. Through mechanisms such as the “Iron Notebook,” “Women’s Notebook,” and “Youth Notebook,” more than 1.5 million vulnerable citizens received targeted support.

 

As a result, the poverty rate declined from 17 percent in 2021 to 8.9 percent by 2024. These figures clearly demonstrate the practical effectiveness of social policy.

 

Agriculture and cotton reforms

 

Market mechanisms were introduced into the agricultural sector, which had previously been constrained by state orders and mandatory contracts. From 2021, land began to be leased to farmers through electronic auctions, and state procurement was abolished.

 

Between 2017 and 2024, exports of agricultural products increased 1.7 times. By 2024, the number of countries importing Uzbekistan’s fruits and vegetables reached 73.

 

Energy and the “Green” economy

 

The transition to renewable energy sources was elevated to the level of state policy. Subsidies and compensation were introduced for households installing solar panels, and “green” energy facilities were exempted from land and property taxes.

 

Today, solar and wind power plants with a total capacity of 4,119 megawatts are operating in 10 regions of the country. In the first half of 2025, electricity generated from “green” sources accounted for 20.3 percent of total generation.

 

Housing construction and urbanization

 

Urbanization was elevated to the level of state policy for the first time. Between 2017 and 2024, 35 million square meters of housing were built, enabling more than 500,000 families to acquire new homes. A total of 67.7 trillion soums were allocated for mortgage loans.

 

Fifty-seven “New Uzbekistan” residential complexes were built and equipped with modern infrastructure, social facilities, and green areas. The urbanization rate reached 51 percent.

 

A new image in transport and urban development

 

In Tashkent, a 30.22 km elevated circular metro line was launched. Thanks to high-speed Talgo-250 trains, travel time on the Tashkent-Karshi and Tashkent-Bukhara routes was nearly halved.

 

The “Tashkent City” complex showcased in the exhibition reflects the capital’s modern image, investment openness, and urban development. Built through the harmony of national and modern architecture, the complex symbolizes Uzbekistan’s investment openness and economic potential.

 

 

In addition, a model of the electric vehicle plant established in cooperation with BYD demonstrates that the country’s industry is entering a new, environmentally friendly stage.

 

Based on data and analyses jointly compiled by relevant ministries and organizations, the “New Uzbekistan - The Foundation of the New Renaissance” section presents these reforms in an interactive and engaging manner. The exhibition embodies the country’s economic, social, and technological development within a single concept. This is not only a reflection of today’s achievements but also a historic stage defining Uzbekistan’s path toward sustainable future development.