Uzbekistan to strengthen financial sector, aiming Top-20 of Doing Business
Baku, Azerbaijan, July 16
By Fikret Dolukhanov – Trend:
Uzbekistan is planning to improve its position in the Doing Business, annual rating of the World Bank and the International Finance Corporation, by 2022 and to get into the top-20 through creation of favorable conditions for carrying out business activities and attracting foreign investments, the decree of President of Uzbekistan Shavkat Mirziyoyev read.
According to the decree, the National Project Management Agency (NPMA) under the president of the republic was appointed as the authorized body for coordination of work in this sphere.
The rating of Uzbekistan in the Doing Business has improved more than twofold over the past five years – from 166th in 2012 to 74th in 2017. However, according to the the document, the existing conditions for doing business in Uzbekistan “still do not fully meet the requirements of international regulations and standards”.
The document approved the “roadmap” to improve Uzbekistan's performance in the Doing Business.
The NPMA together with the Cabinet of Ministers of Uzbekistan were entrusted to prepare certain proposals on improving the position of Uzbekistan in international ratings and until the end of 2018.
The Doing Business reports will be critically examined annually, after which the president's office should prepare a “roadmap” to improve the business environment and legislation to increase the individual indicators of the country in the ranking.
The Chamber of Commerce and Industry of Uzbekistan will conduct annual surveys among business entities to determine effectiveness of the measures being implemented.
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