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Service sector development program adopted in Uzbekistan for 2012-2016

Business Materials 21 May 2012 18:17 (UTC +04:00)

Uzbekistan, Tashkent, May 21 / Trend D. Azizov /

A service sector development program for 2012-2016 has been approved by Uzbek President Islam Karimov's decree.

"The current level and quality of services in the country, especially in rural areas, do not correspond to the level of economically developed countries, the real needs of the population, as well as available resources and opportunities, the preamble of the document said.

The target parameters of developing main kinds of services in Uzbekistan in 2012-2016, envisaging the increase in the share of services in GDP from 50.5 percent in 2011 to 55 percent by 2016 have been approved by the program.

Moreover, the target parameters of developing the services across Uzbek regions, as well as the projected amount of concessional lending resources have been adopted.
Soft loans will be delivered to establish new facilities, services, as well as technical and technological equipping of the facilities specializing in rendering services.

It is planned that about 189.924 billion soums will be allocated in 2012-2016 for these purposes. The entrepreneurs working in the rural areas have a priority right to receive the loans.

According to the document, while developing the territorial regional programs of developing the services, one should pay special attention, particularly, at the development of the companies rendering services in rural areas.

According to the order, individual entrepreneurs engaged in rendering personal services (hairdressers, seamstresses, shoe repairmen, etc.) in rural areas, are exempt from paying a fixed tax for a period of three years from the second quarter of this year.

Micro-firms, small businesses and individual entrepreneurs rendering laundry services are exempt from single tax payment and a fixed tax for a period of five years.

According to the official statistics, the share of services in Uzbekistan's GDP increased by 11.8 percent during 2005-2011. About 1.1 million new jobs were created due to the accelerated development of the service sector.

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