This report takes a strategic, long-term view of Uzbekistan’s investment climate while also offering practical recommendations for short- and medium-term improvements. It assesses the domestic and foreign investment climate, as well as the challenges and opportunities facing the Uzbekistan in its reform efforts. The analyses covers the legal and institutional framework for investment, tax incentives, and measures to promote responsible business conduct. Furthermore, it explores the trends and impacts of foreign direct investment on Uzbekistan’s economy and society focusing on how investment can support green growth, the digital transformation and stronger participation in global value chains. The roadmap draws on the OECD Policy Framework for Investment, the OECD FDI Qualities Policy Toolkit, the OECD Guidelines for Multinational Enterprises and the Asian Development Bank’s analytical tools on trade and investment.