Uzbekistan to revise law “On competition”

Uzbekistan will revise a law “On competition” to decrease permission procedures, the State Statistics Committee of Uzbekistan said.
The law includes permission procedures for businesses as preliminary agreeing merger and acquisition deals of businesses entities, as well as purchase of shares or other property rights.

Annually, the committee received about thousands of appeals to receive preliminary agreement on conducting above-mentioned deals.

The draft law envisages decrease of some permission procedures. In particular, it is planned to abolish procedures on agreeing creation economic unions, deals on purchase of property rights, etc.

It also clarifies some norms in order to liberalize doing business in Uzbekistan, eliminating some barriers and decreasing permission procedures, which will create favourable conditions for business entities.

The draft law is currently considered at the ministries and departments, as well as published at the Single interactive state services portal.

Source:  Uzdaily.com