THE ROLE OF INTERNATIONAL FINANCIAL INSTITUTIONS IN TRANSFORMING UZBEKISTAN'S AUTOMOTIVE INDUSTRY. THE CASE OF UZAUTO MOTORS

Over the last three decades, Uzbekistan being one of the largest car manufacturing countries, has witnessed a transformation in its automotive sector, stimulated by increased demand for vehicles, stronger purchasing power of customers and increased competition in the market. Continuous progress in today’s business environment requires innovation and modern solutions to improve day-to-day operations. Active participation of international financial institutions has played significant role in shifting local companies and banks into new levels, introducing new sources of finance, entering international capital markets, transformation of corporate governance, discovering environmental, social and governance standards, as well as international financial and rating standards.