Uzbekistan to give privileges to small firms and companies
Uzbekistan, Tashkent, July 29 / Trend D. Azizov /
Uzbek small firms and enterprises will retain an appropriate status, privileges, guarantees and rights provided for the enterprises of this type, while increasing the limit of their staff by 20 percent due to graduates of educational institutions in the country.
It was stated in the decree of President Islam Karimov "Additional measures for the involvement of graduates of educational institutions in entrepreneurial activity" published yesterday.
The number of personnel can be increased if the recruited graduate, graduated from the university not more than three years ago.
According to the Uzbek law, the number of employees in small firms and enterprises, depending on the type of activity, must hit 1-100 people.
Uzbekistan has simplified system of taxation of small entrepreneurship as a single tax instead of paying some taxes. Single tax payment rate for small firms and small enterprises in 2010, reduced to seven percent from 8 percent a year earlier. A system of preferential loans has been created to support the re- established small and private enterprises. In particular, the maximal term of credit for capital of small firms increased up to 18 months from 12. Moreover, a number of privileges while holding organizational, training, architectural and construction work by small firms has been envisaged.
There are over 400,000 small companies in Uzbekistan. The share of small companies in the country's economy amounted to 41,1 percent in January-June 2010.
Uzbekistan has adopted a 12-year-old secondary education system. According to it, after the ninth form, young people can continue their education in academic high schools or colleges.
More than 1,500 high schools and colleges for one million students have been established within the state program for staff training in the country. About 500,000 students graduate from professional colleges and lyceums annually.