The Role of the State in Promoting Investment Activity

This article examines the state’s role in promotinginvestment activity in Uzbekistan. It reviews the fiscal, monetary,regulatory, and institutional measures employed by thegovernment. Effective models of public–private partnership and cofinancing are also explored. The paper analyses the unintendedconsequences of state support for investment and discussesmitigation strategies. Finally, it proposes short and medium termreform measures aimed at enhancing private sector investment.