Alona Lebedieva: Uzbekistan is simplifying business rules and becoming more understandable for investors

KYIV, UKRAINE, May 19, 2026 /EINPresswire.com/ -- In recent weeks, Uzbekistan has taken several steps that clearly demonstrate the overall direction of the country’s economic policy. These include the listing of the National Investment Fund UzNIF on the London and Tashkent stock exchanges, the reform of public services, the reduction of bureaucracy, and new approaches to resolving disputes between the state and foreign investors. This was stated by Alona Lebedieva, owner of the Ukrainian diversified industrial and investment group of companies Aurum Group.

According to her, the IPO of UzNIF is important not only as a financial event. It is a signal that Uzbekistan is gradually opening part of its state-owned assets to the market, entering the sphere of international capital, and seeking to become more understandable for investors. But for capital, it is not only the asset itself that matters. The environment in which it will operate is equally important.

For an investor, it matters how quickly the state works, whether the rules are clear, whether rights can be protected, and whether there are no excessive procedures that slow down business. These are precisely the questions Uzbekistan is now trying to answer.

On May 12, with the participation of President Shavkat Mirziyoyev, a program to reduce bureaucracy in the field of public services was presented. Its logic is quite simple: the state should operate as a service, rather than as a system of unnecessary permits, duplicated procedures, and manual approvals. For a country that for a long time had a reputation as a closed economy and a difficult environment for business, this is an important shift.

A separate area of focus is working with foreign investors. Uzbekistan is preparing changes that should move some disputes between the state and investors into a pre-trial format and centralize their review. If such a system works effectively, it may reduce the chaos between different agencies and give business a clearer mechanism for protection.

In Alona Lebedieva’s view, it is precisely such decisions that create a sense of predictability for foreign business. Investors look very closely not only at tax conditions or the pace of economic growth, but also at the quality of public administration. When procedures are simpler, decisions are faster, and rules are clearer, a country becomes more competitive in the race for capital.

That is why the UzNIF IPO, the reform of public services, digitalization, simplification of procedures, and work on investor protection look like parts of a single process. Uzbekistan is trying not only to show investors attractive assets, but also to change the environment in which business operates. This is more important than any single event, because it is the quality of the rules that determines whether capital will remain in the country for the long term.

One stock exchange listing does not change an entire economy. But together with the reform of public services, digitalization, simplification of procedures, and work on investor protection, it sends a different signal: Uzbekistan wants to be understandable for capital.

As Alona Lebedieva emphasizes, this is fundamental for international business. An investor does not come only to where there is growth potential. An investor comes to where they can plan, assess risks, and understand how the state will operate tomorrow. If Uzbekistan is able to move consistently in this direction, it will strengthen its position as one of the most interesting markets in Central Asia.

Alona Lebedieva
Aurum Group
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