Senate Approves Law on Supporting Entrepreneurship and Developing High-Tech Production

Tashkent, Uzbekistan (UzDaily.com) — At the 12th plenary session of the Senate of the Oliy Majlis, lawmakers discussed the Law “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Aimed at Ensuring Employment through Support for Business Entities and the Expansion of High Value-Added Production.”

Senators noted that the country is implementing large-scale reforms aimed at reducing the tax burden, simplifying the tax system, and accelerating economic development. Special attention is being given to enhancing investment attractiveness and improving tax administration.

During the discussion, it was emphasized that the law will provide comprehensive support for entrepreneurs, ensure equal conditions and a fair competitive environment in the market, and implement measures to reduce the size of the shadow economy.

The document establishes procedures for removing individual entrepreneurs who are not engaged in business activities from the state register, enabling the accurate formation of economic and statistical indicators and forecasts of tax revenues.

Senators also highlighted that the law simplifies the process of liquidating inactive business entities, promotes the development of high-tech production, and improves the financial situation of pastoral enterprises.

Following the discussion, the law was approved by the Senate.