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PRESS OF UZBEKISTAN
October 31, 2016
UZBEKISTAN RANKS 87TH IN DOING BUSINESS 2017 REPORT
According to ‘Doing Business 2017: Equal Opportunity for All’’, a World Bank Group flagship publication released October 25, 2016, Uzbekistan was rated 87th among 190 countries having retained its last year’s position. At the same time World Bank experts have raised the positions of Uzbekistan in five of the 10 report indicators.

Our country is in the list of the top 100 countries in such areas as registration of a company (25th place), enforcing contracts (38th), getting credit (44th), protecting minority investors (70th), registration of property (75th), and getting electricity (83rd).

Doing Business 2017: Equal Opportunity for All is the 14th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies and over time.

The global ranking on the ease of conducting business activities is headed by New Zealand. The top five also includes Singapore, Denmark, Hong Kong (China) and South Korea.

It is noteworthy that the reforms started on the improvement of business environment and raising the investment attractiveness and international ranking of our country keep gaining momentum.

Thus, the Decree of the President of Uzbekistan “On additional measures on ensuring the accelerated development of entrepreneurial activity, all-round protection of private property and quality improvement of business climate” adopted on October 5 this year , which fixed as a top priority and the primary task of government agencies “provision of greater freedom to small businesses and private entrepreneurship, radical reduction of interference into their activities with concentration of efforts on prevention at early stages, raising the efficiency of prevention and aversion of wrongdoings” is an evidence of the State policy’s transition to a qualitatively new level in this domain.

The Program of comprehensive measures approved by the Decree provides for concrete moves aimed at further simplification and cost reduction in conducting business activities, improving the system of permit obtaining and licensing procedures and transparency of rendering government services, which will enable to further raise Uzbekistan’s rating in the World Bank’s Doing Business report.

(Source: «Uzbekistan Today» newspaper)


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