ASSESSING THE BUSINESS ENVIRONMENT IN UZBEKISTAN: A PESTEL ANALYSIS

Abstract

This article examines changes in Uzbekistan's business environment between 2022 and 2025 using the PESTEL framework. It identifies conditions that support economic activity and factors that constrain business development. Official statistics and international index data were grouped into six dimensions and compared through descriptive analysis. In 2025, real GDP growth reached 7.7%, while inflation fell to 7.3% and unemployment to 4.8%. The Corruption Perceptions Index stood at 31 points, and the annual mean PM₂.₅ concentration was 38.1 µg/m³. The findings indicate that expanding economic opportunities coexist with persistent institutional and environmental constraints. The article proposes measures to strengthen legal protection, improve regulatory practice, support the commercialisation of innovation and promote efficient resource use.