Uzbekistan to have new business category
Baku, Azerbaijan, Sept. 12
By Fakhri Vakilov - Trend:
The category "medium business" will be officially introduced in Uzbekistan in the near future, as was noted during the video conference, chaired by the President of Uzbekistan Shavkat Mirziyoyev on September 11, on the further development of small business and private entrepreneurship, as well as the guaranteed provision of budget revenues, Trend reports with reference to the press service of the head of state.
The meeting highlighted the upcoming measures to improve the legislative framework necessary to improve the business climate.
The presidential press service notes that in many countries, business entities are divided into 3 categories (small, medium and large business), the state implements a separate support policy for each category.
However, the concept of medium-sized business is completely absent in Uzbekistan, which today plays a special role in the development of the economy.
With this in mind, the Cabinet of Ministers and relevant ministries were instructed to introduce the category of “medium-sized businesses”, to review the criteria for small and large businesses, and also within three months to develop specific proposals for state support with mechanisms separate for each category.
Follow author on Twitter:@vakilovfaxri