Uzbekistan currently has a unique demographic window of opportunity, as 500,000 young people will annually add to the labor supply over the next years. Successful integration of these applicants into the labor market can transform Uzbekistan into a rapidly developing and diversified economy. However, the country still needs to push forward ongoing reforms, ADB country study report published on April 30 says.

The study examines the key elements of creating quality jobs, including macroeconomic stability, physical infrastructure, human resource development, access to finance and private sector development as well as regional cooperation.

The government of Uzbekistan has taken a number of measures, thanks to which various obstacles to creating quality jobs have been removed. However, sufficient job creation requires further government initiatives, in particular, aimed at improving access to financial resources for small businesses, developing market competition, and easing long-term restrictions related to infrastructure stocks and human capital in the economy, the ADB press release notes.

The study proposes that the development of an integrated infrastructure development strategy and accession to the World Trade Organization (WTO) will contribute to improving the country's access to world markets while supporting economic growth and employment growth.

Despite the fact that the country pays great attention to education, the education system of Uzbekistan is grossly misaligned with the needs of private sector and is unable to catch up with the economy’s rapidly changing structure and labor market demands.

The government needs a science-based and flexible educational policy that includes public investment and public-private partnerships, as well as careful monitoring of reforms, the report reads.