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01 October 2019

Uzbekistan is among leading reformer countries

Uzbekistan is among the top 20 countries that have implemented major reforms in the field of business facilitation. Uzbekistan took 76th place among 190 countries in the Doing Business ranking.

The World Bank noted the achievements of 20 countries that have undertaken major reforms in the field of business facilitation in the framework of the Doing Business international rating. Among other countries, measures taken in Uzbekistan in five areas are emphasized, the press service of the Ministry of Justice reports.

According to the World Bank, Uzbekistan has recently strengthened the protection of minority investors, simplified the tax system, introduced measures to enforce contracts and achieved significant success in facilitating foreign trade.

In addition, new requirements for the independence of board members in commercial organizations have been established and the role of audit committees has been strengthened.

The report highlighted tax reforms, in particular combining infrastructure taxes with income taxes. The World Bank also recognized the steps taken to develop the institution of mediation, emphasizing the creation of a unified legal framework and the introduction of incentive mechanisms for the use of mediation in disputes arising from entrepreneurial activities.

In addition, it was emphasized that in the customs sphere, qualitatively new customs control procedures based on a risk analysis have been introduced.