Tashkent, Uzbekistan (UzDaily.com) — The Center for Economic Research and Reforms (CERR) has published data on Uzbekistan’s business climate for February 2025. According to the report, the country is experiencing positive momentum, although some economic sectors continue to face challenges.

The composite business climate index rose by 2 points in February, reaching 54 points (on a scale from -100 to +100). This indicates an improving business environment. Nearly half of the surveyed entrepreneurs (48%) rated the current situation as "satisfactory," marking a 5% increase compared to January.

Optimism is particularly notable in the industrial and construction sectors, where indicators grew by 8 and 7 points, respectively. The services sector also saw a modest increase of 1 point. However, the agricultural sector experienced a 2-point decline, mainly due to seasonal factors and other challenges.

Entrepreneurs remain optimistic, with the expectations index increasing by 3 points, reaching 68 points. Business forecasts in industry, construction, and services range from 62 to 79 points, reflecting positive sentiment. Even in agriculture, despite current difficulties, expectations remain at 66 points.

Despite the overall positive trend, businesses continue to face several challenges. The main concerns include:

High tax rates: Concern over this issue rose from 4% in January to 6% in February.

Financing: The percentage of respondents citing difficulties in access to finance decreased from 9% to 8%, but remains a pressing issue.

Bureaucracy and administrative barriers: 9% of companies reported difficulties in obtaining permits and licenses, as well as other administrative obstacles.

Additionally, entrepreneurs expressed concerns over high lending rates, unfair competition, and monopolies.

Industry: The current conditions index rose by 7 points to 51 points.

Construction: An improvement of 5 points, reaching 45 points.

Services: Stable at 44 points.

Agriculture: A 2-point decline, attributed to seasonal factors and limited resource access.

Uzbekistan’s business climate continues to demonstrate steady growth, as reflected in improving key indicators and growing entrepreneurial optimism. However, maintaining positive momentum requires addressing issues such as high tax rates, access to financing, and reducing bureaucratic burdens.

CERR experts emphasize that further improvements in the business environment will depend on the effectiveness of government reforms aimed at supporting businesses and creating favorable investment conditions.