Why Uzbekistan?
Business Environment
In recent years, the Government of Uzbekistan has made significant strides in improving the business environment. This includes implementing reforms such as currency exchange liberalization, tax reform, and simplification of business procedures. Uzbekistan has made several significant reforms in recent years to improve the business environment and promote economic growth.
International
Indexes
69 in the Ease of Doing Business Index
(World Bank 2020)
#8 in Starting a Business
(World Bank 2020)
Special Tax Regime and other Incentives for IT-ES companies
Double Taxation Treaty with 54 countries
4th most affordable capital in the world
68
Global Innovation Index
43
GovTech Maturity Index
4
GovTech Enablers
99%
Internet Coverage
15th
in the world by internet cost
Advantages
Legal Reforms
In 2017, the government introduced new laws to protect the rights and interests of businesses, including a law that prevents state authorities from interfering in the activities of private businesses.
Economic Liberalization
The government has taken steps to liberalize the economy, such as lifting foreign currency restrictions, reducing taxes, and easing regulations. This has attracted more foreign investment and boosted the private sector.
Infrastructure Development
The government has invested heavily in infrastructure, including transport and logistics, to support business operations. This includes the modernization of roads, railways, and airports.
Business Support Services
The government has established several institutions to support businesses, such as the Business Ombudsman, which helps to resolve disputes between businesses and state authorities, and the Investment Promotion Agency, which provides assistance to foreign investors.
Digitalization
The government has launched a "Digital Uzbekistan" strategy, aimed at digitizing public services, including those related to business registration and operation, to make them more efficient and transparent.
Improving Access to Finance
The government has reformed the banking sector to improve access to finance for businesses, including SMEs. This includes measures to strengthen the capital base of banks, improve their risk management practices, and promote competition in the sector.
Education and Training
The government has undertaken initiatives to improve the skills and capacity of the workforce to meet the needs of businesses. This includes partnerships with international institutions to provide training in areas such as entrepreneurship and business management.