Saturday, 28, May, 2022

Uzbekistan plans to reduce state’s involvement in the economy and pave the way for the private sector. This is stated in one of the items of the draft Roadmap of the Development Strategy for 2022-2026 to be implemented in 2022.

In connection with the abolition of exclusive rights and the privatization of state-owned companies, monopolies will be abolished in 14 types of business activity (supply of liquefied gas to the population and social facilities, the production of scrap and non-ferrous metal waste, certification services, etc.).

The introduction of free market principles into economic relations will be expanded. Consolidation of the Competition Law and Natural Monopolies Law will determine cases of state participation in business and antitrust requirements, expand legal instruments for determining the status of natural monopolies, improve the criteria for determining market dominance, state support (benefits and forms of preferences) and antitrust requirements for their provision, criteria and responsibility for manipulation in auction (exchange) trading, harsher responsibility for restricting competition.

The principles of the free market will be widely implemented in business activities. In particular, there will be a complete transition to market mechanisms for the supply of raw materials and the formation of prices for agricultural products, and administrative prices for some goods will be gradually canceled.

Latest in Economy