“Cost of Doing Business in Uzbekistan” unveiled

The Ministry of investments and foreign trade of Uzbekistan has published “Cost of Doing Business in Uzbekistan 2021” report, which was compiled in cooperation with PricewaterhouseCoopers (PwC), the United Nations Development Program (UNDP), and with the support of the United States Agency for International Development (USAID)

The report outlines the process of starting a new business and the procedures for obtaining visas, paying taxes and customs duties.

It also includes a general guide for foreign trade, highlighting a united automated information system of the State Customs Committee of Uzbekistan, most favored nation treatments, and countries that have effective Free Trade Agreements with Uzbekistan.

“USAID supports the Government of Uzbekistan in expanding trade and undertaking trade policy reforms and accession to the World Trade Organization by revising legislation, building institutional capacity, and making firms more competitive. Availability of transparent and reliable data in the Cost of Doing Business in Uzbekistan 2021 is a huge step towards more sustainable investments and an enabling business environment in the country,” said USAID Mission Director in Uzbekistan Mikaela Meredith.

“This report is useful not only for business, but is also an important indicator for the development of proposals to further improve and simplify the processes of doing business in Uzbekistan. Reforms in Uzbekistan have become irreversible and are aimed at creating a new look for the country, committed to the development of economic market principles and the formation of the most favorable business climate for the effective translation of business ideas into the real investment projects”, noted Sardor Umurzakov, Deputy Prime Minister, Minister of investments and foreign trade of Uzbekistan.

Uzbekistan occupied the 69^th place in global ranking among 190 economies in the World Bank’s Doing Business 2020 study and was listed among the top-20 improvers in Doing Business 2020 worldwide. The inclusion in the top 20 improvers was due to Uzbekistan taking steps to protect minority investors, pay taxes, enforce contracts, and increase trade across borders.