Uzbekistan’s Strategic Role In Infrastructure Development And Regional Cooperation Within The New Silk Road
DOI:
https://doi.org/10.51699/ijbde.v4i1.286Keywords:
Uzbekistan, Economic Diplomacy, Regional Integration, Belt and Road Initiative, Infrastructure Development, Geopolitical CompetitionAbstract
Leveraging the position of Uzbekistan in Central Asia, it has carve its nich in the economic diplomacy and regional integration mainly considering the BRI . The existing literature lacks information about how Uzbekistan’s dynamics in these endeavours which is why, exploring the role of infrastructure advancement and establishment of regional cooperation along with the enhancement of foreign investment coupled with geopolitical shifts in these economic diplomacy processes. Qualitative survey and multinomial logistic regression were utilized to assess factors of interest, and based on 100 participants’ response. The results of the analysis show that infrastructure improvement (estimate = 0.85, p < 0.01), the regional cooperation (estimate = 0.72, p < 0.01) and the economic reform (estimate = 1.10, p < 0.001) contributes positively to the regional integration of Uzbekistan. On the other hand, geopolitical competition (- 0.45, p = 0.03), is a significant threat which is in line with previous studies describing relevance, instability of relations with the great powers. These findings emphasise the value of more funding for infrastructures and changes for growth and stability of economy in a region. In order to reduce geopolitical risks, it is recommended that policy makers increase regional cooperation, and employ clear investment policies. First of all, this research enhances the existing knowledge about economic diplomacy in emerging countries to achieve sustainable development and international cooperation. More studies should be carried on the subject with focus on long term effects and comparison to other countries within the CA region in order to get a better understanding of integration in the region.
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