Today, the U.S. Agency for International Development (USAID) together with the Ministry of Justice of Uzbekistan organized a conference to share and discuss Uzbekistan’s draft Entrepreneurship Code. The new code, which was drafted with technical assistance from USAID, will make it easier for Uzbekistan’s entrepreneurs to start and grow businesses by reducing administrative burdens and creating a business environment friendly to investors.
The United States’ Deputy Chief of Mission Paul Poletes congratulated the Ministry of Justice for this remarkable accomplishment. He added that “drafting the Entrepreneurship Code is only the beginning. To reach its intended beneficiaries, there must be a commitment to adopting and implementing the code, and continuing to eliminate the barriers to private sector growth.”
The new Entrepreneurship Code will contribute to the liberalization of Uzbekistan’s economy by replacing more than 100 existing rules and regulations. The code reduces government overreach while also strengthening private property ownership rights.
The conference, entitled “The Entrepreneurship Code - for the Interests of Entrepreneurs,” brought together more than 150 government representatives, national and international experts, and private entrepreneurs.
Participants discussed the legal relationship between private business entities and the state, regulations that facilitate rather than impede business development and investment, and avenues for government support of private enterprises to make them globally competitive. National and international experts shared recommendations for improving the draft Entrepreneurship Code to better serve the needs of businesses and to improve the state-business relationship.
