Significant improvement of the business climate

30.07.2018, 17:51

Entrepreneurship plays an influential role in the economic growth and standard of living of the country. This sector creates the necessary atmosphere of competition, promotes creation of additional jobs and growth of incomes of the population, structural changes in the economy of Uzbekistan. To ensure a favorable business environment, the State provides comprehensive support to business entities by providing them with various benefits and preferences. As a result, in Uzbekistan entrepreneurship became the basis for the formation of a diversified economy and further development of market relations, a new social layer of society - a class of private owners.

In this connection, the decree of the President of the Republic of Uzbekistan «On measures to further improve the system of protection of the rights and legitimate interests of business entities», which contains a number of important and principled innovations, attracted close interest.

Thus, they concern the elimination of shortcomings of the existing mechanism of compensation to individuals and legal entities of losses associated with the seizure of land for state and public needs with the demolition of real estate. For this purpose, a centralized fund for compensation of losses was established under the Cabinet of Ministers.

Summarizing the above, it should be noted that this decree contributes to the protection of the rights and legitimate interests of private owners, increasing the confidence of business entities to the state and the investment attractiveness of the country.

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