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Uzbekistan ranks 99th in Forbes ranking for doing business

22 Dec 2017 3:42 PM | Laziz Rasulov

Forbes has compiled ranking of the best countries for doing business. In the ranking, which assessed 53 countries on 15 criteria, Uzbekistan was ranked the 99th, between Lebanon and Iran.

Uzbekistan is the world's fifth largest exporter of cotton and the seventh largest producer.

Growth in Uzbekistan is mainly driven by public investment, while the export of natural gas, gold and cotton provide a significant share of foreign exchange earnings. Given the need to improve the investment climate, the government is taking additional steps to reform the business sector and remove obstacles to foreign investment in the country, experts note.

The rating of the best countries for doing business evaluates the countries by various factors, which include: property rights, the degree of innovation, the level of taxation, technology, the level of corruption, freedom (personal, commercial and financial), bureaucracy and investor protection. All categories are equal in importance.