Uzbekistan plans to reduce administrative costs for entrepreneurs to 90 bn soums ($7.5 mln), according to a decree from President Shavkat Mirziyoyev. Starting next year, the country will implement a «Start a Business in 15 Minutes» principle.
Under this initiative, business founders will receive a comprehensive package of services when registering their companies. This will include an electronic digital key, applications for bank accounts, and licences. Entrepreneurs will also be able to arrange rental contracts, register online, and purchase cash registers, according to the presidential decree.
National Statistics Committee data show that by early November this year, there were over 465,900 active enterprises in Uzbekistan, a slight decline of 0.7% compared to the previous year. Small businesses make up more than 395,700 of these companies.
Regionally, the largest number of active enterprises is concentrated in Tashkent city, which accounts for 23% of businesses, followed by Tashkent region with 9.7% and Samarkand region with 8.6%.
