In early April, a discussion was held at the Ministry of Economy and Finance regarding the implementation of the president's decree on priority measures for reforms in 2024 across 10 key areas. The meeting was attended by presidential advisor Ravshan Gulyamov, Vice Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov, heads of ministries and agencies, as well as representatives of international financial organizations.
The 10 priority reforms for this year include ensuring macroeconomic stability, enhancing budget and tax policies, improving state procurement systems, ensuring energy security, strengthening reforms in agriculture and water management, reforming the telecommunications sector, developing transportation infrastructure, accelerating urbanization and housing construction processes, improving the business and investment environment, increasing exports, reforming and privatizing state enterprises, promoting domestic and international tourism, and advancing green economy and innovation activities.
Vice Prime Minister Jamshid Kuchkarov emphasized the importance of developing and adopting a series of laws in line with the president's decree. He highlighted the need for new legislation to address various sectors, such as the energy sector and competition in the market.
Furthermore, authorities intend to tackle the shadow economy by developing a strategy to reduce it by 2030. This strategy includes implementing new approaches, enhancing state regulation, and simplifying tax and customs administration to build trust among businesses and the public.
Kuchkarov reassured that there will be no deviations or regressions in these efforts and emphasized the government's commitment to supporting entrepreneurs who comply with regulations and laws. He called for collaboration with international financial institutions, organizations, and embassies to achieve these goals.
President Shavkat Mirziyoyev previously highlighted the significant impact of the shadow economy on Uzbekistan's budget and GDP. He emphasized the need to combat this issue to create a fair business environment.
To encourage compliance, measures such as introducing norms for the number of workers required for construction projects and promoting cashless transactions were considered. A rating system for entrepreneurs' sustainability was launched, offering benefits such as tax exemptions and expedited tax refunds for those with high ratings.
The government's proactive approach to reforming the economy and combating the shadow economy demonstrates a commitment to sustainable growth and fostering a business-friendly environment in Uzbekistan.
