A new publication ‘Cost of Doing Business in Uzbekistan 2021’provides a “one-stop-shop” for investors looking for an authoritative source for startups and established businesses. Initiated by the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan, the Cost of Doing Business in Uzbekistan 2021 was released today in cooperation with the U.S. Agency for International Development (USAID), PricewaterhouseCoopers, and the United Nations Development Programme.
The publication outlines a comprehensive overview of the major costs, including enterprise registration, labor costs, taxes and tax incentives, licensing, foreign trade procedures, customs payments and preferences, business services, logistics, and other types of business information relevant to Uzbekistan. It also includes a general guide for foreign trade, highlighting a united automated information system of the State Customs Committee of Uzbekistan, most favored nation treatments, and countries that have effective Free Trade Agreements with Uzbekistan.
“USAID supports the Government of Uzbekistan in expanding trade and undertaking trade policy reforms and accession to the World Trade Organization by revising legislation, building institutional capacity, and making firms more competitive. Availability of transparent and reliable data in the Cost of Doing Business in Uzbekistan 2021 is a huge step towards more sustainable investments and an enabling business environment in the country,” said USAID Mission Director in Uzbekistan Mikaela Meredith.
Uzbekistan occupied the 69th place in global ranking among 190 economies in the World Bank’s Doing Business 2020 study and was listed among the top-20 improvers in Doing Business 2020 worldwide. The inclusion in the top 20 improvers was due to Uzbekistan taking steps to protect minority investors, pay taxes, enforce contracts, and increase trade across borders.