Uzbekistan: Ensuring Business-Friendly Conditions: Uzbekistan Aims To Enhance Its Position In The "Doing Business Report"

Last Updated: 21 February 2019
Article by Eldor Mannopov and Bobur Shamsiev

Uzbekistan continues to undertake measures to improve its business environment and promote the country's positive image in the international arena. On February 5, 2019, the President of Uzbekistan, Shavkat Mirziyoyev, signed Resolution PP-4160 "On Additional Measures to Improve the Ranking of Uzbekistan in the Annual 'Doing Business' Report of the World Bank and International Finance Corporation."

According to the Resolution, Uzbekistan plans to increase its overall ranking from the latest 76th position to 66th by 2020, 33rd by 2021 and 20th by 2022. The Resolution provides for reforms with regard to a number of indicators of the "Doing Business" ranking and approves the "Roadmap" and Benchmarks for improving the country's position in the report.

Key reforms addressing seven indicators:

Starting a business. Current ranking – 12.

From March 1, 2019:

Enabling banks to open bank accounts remotely for legal entities, if their founders are residents of Uzbekistan, and for individual entrepreneurs during their state registration, provided that necessary conditions exist for identifying applicants remotely, as required by the Financial Action Task Force on Money Laundering (FATF). By 2022, the country plans to reduce time for starting a business from the current four days to one day.

Dealing with construction permits.

Current ranking – 134.

From March 1, 2019:

Cancellation of the procedure for determining the exclusive designated purpose of land plots when they go through the auction on the electronic trading platform "E-IJRO AUKSION" with an obligatory reference to an exhaustive list of types of objects, construction of which is prohibited or permitted on a specific land plot;

Abolition of the procedure for obtaining a permit for building and installation works with the introduction of a mechanism for the notification of their commencement.

By 2022, Uzbekistan plans to reduce the number of procedures from 17 to 15 and the amount of days required for getting all construction permits from 246 to 120.

Getting electricity.
Current ranking – 35.

From March 1, 2019:

Application of economic sanctions for unauthorized disconnection of consumers from the energy supply.
By 2022, the country plans to reduce time for getting electricity from the current 88 to 33 days.

Registering property.
Current ranking – 71.            

From March 1, 2019:

Application of the principle of extraterritoriality with regard to state registration of immovable property rights and submission of cadastral package.

By 2022, the country plans to reduce the time required for registration of property to two days (currently – 46 days).
           

Protecting minority investors.
Current ranking – 64.

Introduction of a mechanism for paying accrued dividends on shares through the Central Securities Depository or investment intermediaries.

By 2022, Uzbekistan aims to improve indexes constituting the indicator of protecting minority investors, including the extent of shareholder rights index to 9 (currently – 6) and extent of corporate transparency index to 9 (currently – 7).

Trading across borders.
Current ranking –165.

From March 1, 2019:

Authorization of the Chamber of Commerce and Industry of the Republic of Uzbekistan to issue the certificate of origin along with the Ministry of Investment and Foreign Trade of Uzbekistan. The certificate is to be issued within 1 business day upon the date of application.

Crrently, the certificate of origin is issued by the JSC "Uzbekexpertiza" and its branches under the Ministry of Investment and Foreign Trade. From March 1, 2019, the issuance of the certificate of origin is to be carried out by both the Chamber of Commerce and Industry and the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan.

Moreover, forms of cargo declaration are to be simplified based on the international practice.

Enforcing contracts.
Current ranking – 41.

From March 1, 2019:

Introduction of a pre-trial hearing in the economic court as a dispute resolution method. A pre-trial hearing allows specific legal issues of the dispute that facilitates the court hearing to be addressed or helps to settle the dispute at preliminary stage. By 2022, Uzbekistan plans to increase the quality of judicial processes index up to 10 (currently – 6 scores).

Also, it is to be noted that PP-4160 is not the first document aimed at improving Uzbekistan's ranking in the "Doing Business" report. In July 2018, the President of Uzbekistan signed the Resolution PP-3852 "On Measures to Improve the Ranking of Uzbekistan in the Annual "Doing Business" Report of the World Bank and International Finance Corporation." In comparison with the previous Resolution, PP-4160 determines specific measures addressing each indicator and time frames for their implementation. Moreover, PP-4160 reflects Benchmarks for improving both total ranking and the rankings on each indicator specifying ministries and agencies responsible for ensuring these results.

Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on Mondaq.com.

Click to Login as an existing user or Register so you can print this article.

Authors
 
Some comments from our readers…
“The articles are extremely timely and highly applicable”
“I often find critical information not available elsewhere”
“As in-house counsel, Mondaq’s service is of great value”

Related Topics
 
Related Articles
 
Up-coming Events Search
Tools
Print
Font Size:
Translation
Channels
Mondaq on Twitter
 
Mondaq Free Registration
Gain access to Mondaq global archive of over 375,000 articles covering 200 countries with a personalised News Alert and automatic login on this device.
Mondaq News Alert (some suggested topics and region)
Select Topics
Registration (please scroll down to set your data preferences)

Mondaq Ltd requires you to register and provide information that personally identifies you, including your content preferences, for three primary purposes (full details of Mondaq’s use of your personal data can be found in our Privacy and Cookies Notice):

  • To allow you to personalize the Mondaq websites you are visiting to show content ("Content") relevant to your interests.
  • To enable features such as password reminder, news alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our content providers ("Contributors") who contribute Content for free for your use.

Mondaq hopes that our registered users will support us in maintaining our free to view business model by consenting to our use of your personal data as described below.

Mondaq has a "free to view" business model. Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. Once personal data is transferred to our Contributors they become a data controller of this personal data. They use it to measure the response that their articles are receiving, as a form of market research. They may also use it to provide Mondaq users with information about their products and services.

Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.

Please indicate your preference below:

Yes, I am happy to support Mondaq in maintaining its free to view business model by agreeing to allow Mondaq to share my personal data with Contributors whose Content I access
No, I do not want Mondaq to share my personal data with Contributors

Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq:

Yes, I am happy to received promotional communications from Mondaq
No, please do not send me promotional communications from Mondaq
Terms & Conditions

Mondaq.com (the Website) is owned and managed by Mondaq Ltd (Mondaq). Mondaq grants you a non-exclusive, revocable licence to access the Website and associated services, such as the Mondaq News Alerts (Services), subject to and in consideration of your compliance with the following terms and conditions of use (Terms). Your use of the Website and/or Services constitutes your agreement to the Terms. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever.

Use of www.mondaq.com

To Use Mondaq.com you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.

Disclaimer

The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.

General

Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions