Over the past year, Uzbekistan has implemented four reforms that have allowed it to be among the TOP-20 countries which have made the greatest improvement in their business environment. This is stated in the World Bank’s Doing Business 2020 report.
In 2019, Uzbekistan ranked 69th among 190 countries in the Doing Business report by scoring 69.9 points out of 100. Compared to 2018, the country improved its position by seven lines. Together with four other countries in Europe and Central Asia – Tajikistan, Azerbaijan, Kyrgyzstan and Kosovo, Uzbekistan is among the TOP-20 countries that have achieved the greatest success in improving the business environment.
Major reforms in this area are as follows:
- strengthening minority investors’ protection by expanding the rights and role in major corporate decisions, clarifying ownership and control structures, and requiring greater corporate transparency;
- making tax payments easier by merging the infrastructure tax with the corporate income tax;
- making cross-border trade easier by introducing risk-based inspections and simplifying import documentary compliance;
- making contract enforcement easier by introducing a consolidated law on voluntary mediation, establishing financial incentives for the parties to attempt mediation, and publishing performance measurement reports on local commercial courts.