Government Decrees to Cancel Excessive Obligations for Entrepreneurs
The government of Uzbekistan has issued a decree to cancel more than 100 excessive obligations for entrepreneurs, according to a report by UzDaily.uz. The decree aims to simplify the business environment and stimulate the development of the private sector in the country.
The decree covers various aspects of business activity, such as licensing, taxation, customs, inspections, and reporting. Some of the main changes include:
- Reducing the number of licenses and permits required for certain types of business activities, such as construction, tourism, and education.
- Abolishing the mandatory registration of contracts for the export and import of goods and services, as well as the requirement to submit monthly reports on foreign trade operations.
- Eliminating the obligation to obtain a certificate of origin for goods exported to the Eurasian Economic Union (EAEU) countries, as well as the requirement to provide a customs declaration for goods imported from the EAEU countries.
- Simplifying the procedure for obtaining a certificate of conformity for products and services, as well as reducing the fees for certification and accreditation.
- Introducing a risk-based approach for conducting inspections and audits of business entities, as well as limiting the frequency and duration of inspections.
The decree also provides for the creation of a single electronic portal for entrepreneurs, where they can access all the necessary information and services related to business regulation. The portal will also allow entrepreneurs to submit complaints and suggestions to the relevant authorities.
Business Community Welcomes the Reforms
The business community of Uzbekistan has welcomed the reforms introduced by the government, saying that they will improve the investment climate and increase the competitiveness of the local enterprises.
According to the Association of International Business and Technologies (AMBiT), the decree will help to reduce the administrative burden and save time and money for entrepreneurs. The association also praised the government for consulting with the business community and taking into account their proposals and recommendations.
The Chamber of Commerce and Industry (CCI) of Uzbekistan also expressed its support for the decree, saying that it will create favorable conditions for the development of small and medium-sized businesses, as well as attract foreign investors to the country. The CCI also noted that the decree will enhance the transparency and accountability of the state bodies and agencies responsible for business regulation.
Uzbekistan Continues to Implement Economic Reforms
The decree to cancel excessive obligations for entrepreneurs is part of the ongoing economic reforms initiated by the government of Uzbekistan since 2016. The reforms aim to transform the country’s economy from a state-dominated model to a market-oriented one, as well as to integrate the country into the regional and global markets.
Some of the key achievements of the reforms include:
- Liberalizing the foreign exchange market and introducing a floating exchange rate for the national currency, the som.
- Adopting a new tax code that reduces the tax burden and simplifies the tax system for businesses and individuals.
- Launching a privatization program that offers state-owned enterprises and assets to private investors, both domestic and foreign.
- Signing free trade agreements with several countries, such as China, South Korea, and Turkey, as well as joining the World Trade Organization (WTO) as an observer.
- Implementing a digital transformation strategy that aims to modernize the public administration and provide e-government services to the citizens and businesses.
The economic reforms have resulted in positive outcomes for the country, such as:
- Achieving a high economic growth rate of 5.6% in 2022, despite the challenges posed by the COVID-19 pandemic.
- Improving the ranking of the country in various international indices, such as the Ease of Doing Business index, the Global Competitiveness index, and the Corruption Perceptions index.
- Increasing the volume and diversity of the country’s trade and investment flows, as well as expanding the geographical reach of its economic partners.
The government of Uzbekistan has expressed its commitment to continue and deepen the economic reforms, as well as to address the remaining challenges and gaps in the business environment. The government has also announced its intention to develop a new strategy for the country’s socio-economic development for the period of 2023-2030, which will outline the vision and priorities for the future of Uzbekistan.
