Uzbekistan announces additional measures to boost local business activity

Uzbekistan announces additional measures to boost local business activity

BAKU, Azerbaijan, May 20

By Ilkin Seyfaddini - Trend:

Additional measures aimed at increasing the business activity of the population in Uzbekistan were announced during a video conference chaired by President Shavkat Mirziyoyev,Trend reports citing the press service of the president.

First of all, within the framework of consistent mitigation of COVID-19 quarantine measures, about 110,000 businesses are allowed to resume operations. Over 600,000 people have already returned to their jobs.

More than 40,000 more businesses will gradually be allowed to resume operations based on how the epidemiological situation develops.

Serious attention has been paid to guaranteeing the rights of entrepreneurs and the inviolability of their property. The competent agencies will strengthen responsibility for violations of the inviolability of property and ensure full implementation of court decisions on compensation for entrepreneurs' property.

The government plans to introduce a system to create decent conditions for self-employed citizens. In particular, hairdressers, shoemakers, bakers, blacksmiths, carpenters, tailors, taxi drivers, translators, designers, programmers - self-employed representatives of over 60 professions will be exempt from income taxes.

"Within the framework of mitigating the impact of the pandemic, the repayment period of 1 trillion soum ($98.8 million) of loans allocated to the 'Every Family - entrepreneur' program has been extended. Some $100 million has been allocated from the Reconstruction and Development Fund for the full implementation of the program," the message said.

In the last two months, 12 presidential decrees and resolutions have been adopted to mitigate the impact of the pandemic on the living standards of the population and economic sectors. As a result, more than 500,000 business entities and over 8 million citizens received benefits and preferences worth almost 30 trillion soum ($2.9 billion).

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