Today, we are seeing a gradual economic recovery from the consequences of the pandemic, which is due to the timely adoption of measures to support enterprises and the transformations carried out in recent years in the field of improving the business environment and creating a favorable business climate.
Over the past few years, Uzbekistan has been carrying out reforms aimed at improving the business climate, attracting foreign investment, strengthening property rights and fighting corruption. A lot has been done in this direction over the past few years:
Since January 2017, all types of unscheduled inspections of the business activities, as well as counter inspections, including in criminal cases, limiting the legal rights have been canceled.
Since January 2018, a two-year pause has been declared on conducting inspections of the financial and economic activities of business entities, which was extended in 2020 due to the crisis caused by the coronavirus pandemic.
Since June 2018, 6 types of licenses and permits in the field of entrepreneurial activity have been canceled.
The mechanism for allocating microcredits has been simplified to newly registered individual entrepreneurs and family entrepreneurs.
The State Fund for Supporting the Development of Entrepreneurship has been created, which provides financial assistance to business entities.
A ban has been established on the use of criminal punishment against business entities. An independent institute was also established - the Commissioner under the President of the Republic of Uzbekistan for the protection of the rights and legitimate interests of business entities.
And the great work carried out over the past years to improve the operating conditions for business that has contributed to the consistent recovery of the economy from the consequences of the pandemic.
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