President of Uzbekistan approves state program for 2019
Baku, Azerbaijan, January 18
President of Uzbekistan Shavkat Mirziyoyev signed a decree “On the State Program for the Implementation of Action Strategy for the Five Priority Development Areas of Uzbekistan Republic in 2017–2021”, Trend reports via UzDaily.uz.
The document notes that the projects in the amount of 16.9 trillion soum and $8.1 billion will be implemented.
Uzbekistan is creating a direct investment fund with a capital of $1 billion with management company that is fully owned by the state, and has an authorized capital of $5 million. The fund will attract foreign direct investment and innovative technologies in expanding the production potential, as well as further enhancing the competitiveness of the republic's economy.
Uzbekistan will introduce an “investment visa” for founders and participants of enterprises with foreign investments and members of their families starting from 1 March.
Furthermore, measures to assist people in need of housing, material assistance to the poor and protection of public health are planned.
According to Program of the Year, it is proposed to introduce the practice of approving members of the Government by the Parliament and the heads of territorial state bodies by Kengashes (Council) of people's deputies.
Moreover, it’s including the development of new edition of the Tax Code and new version of the Law on Insurance Activities until September 1, 2019.
The document reflects specific steps that will be taken this year in such areas as improving the state and social construction system, the rule of law, reforming the judicial system, developing and liberalizing the economy, ensuring inter-ethnic harmony as well as the implementation of balanced, mutually beneficial and constructive policies.
An Expert Council under Uzbekistan President is being created and will deal with consulting and expert support for reforms, as well as establishing proposals on topical issues such as improving the investment climate in the country. The council will include businessmen, prominent government and public figures, scientists, including from among citizens of foreign countries and compatriots living abroad.
Some 76,000 projects were implemented in the amount of 21 trillion soum and $1 billion in the framework of the State Program for 2018.
A total of 3 trillion soum were allocated to the enhancement of life conditions in more than 400 villages of the republic, 2 trillion soums were allocated to the programs “Every family is an entrepreneur” and “Youth is our future” for the realization of more than 2,600 business projects in the field, the opening of new educational directions and an increase in the admission quota significantly expanded opportunities for higher education and close attention to advancement of the social sphere increased the real incomes of the population by 12 percent compared to 2017.
Due to the introduction of a conceptually new tax administration procedure, 5.5 billion trillion soums are left at the disposal of local budgets from over-fulfilling the projected tax collection indicators which is 6 times more than in 2017 and 32 times more than in 2016.