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Sunday, August 25, 2019

Uzbekistan adopts program to improve investment climate

The government of Uzbekistan recently adopted a presidential decree to improve the country's business environment and investment climate.

The decree, which is called "On additional measures to improve the investment climate and business environment in the Republic of Uzbekistan," was adopted on April 7. The government adopted the document to further improve the country's business environment, create a favorable investment climate, increase the transparency of government activities of state and economic management bodies, radically improve conditions for doing business, and create new jobs in the private sector, according to UzReport.

The decree instructed ministries, state committees, agencies, companies, associations and local authorities to post information on their official websites regarding relations with business entities within one month. The required information includes procedures and deadlines for processing and issuing permits, licenses, certificates and other documents, most legal acts, and the terms and cost of providing public and other services to business entities.

The government instructed the Ministry of Justice and the State Committee for Communication, Information and Telecommunication Technologies to systematically monitor compliance with the requirements. The Cabinet of Ministers will monitor the implementation of the measures, including regular surveys of business entities on the effectiveness of the measures, according to UzReport.