Senators approves law on CCI in new edition

The law was developed in pursuance of the Decree of the President of the Republic of Uzbekistan “On measures to radically improve the system of state protection of legitimate business interests and further development of entrepreneurial activities”.

The purpose of the law is to form an integrated business community and ensure effective interaction of business entities, their associations with government bodies, as well as wide coverage and involvement of business entities in the process of forming an entrepreneurial community.

The law includes general provisions, tasks and functions of the Chamber of Commerce and Industry, its interaction with state and other bodies and organizations, participation in inspections of business entities, organization of its activities, international cooperation, dispute resolution mechanism.

The new version of the law establishes the functions of the Chamber of Commerce and Industry in the field of protecting the rights of business entities and improving the business environment and investment climate, facilitating entrepreneurial activities, interacting with state and other bodies and organizations, training entrepreneurs and training personnel, foreign economic activity and attracting foreign investment.

As the senators noted, the implementation of this law will contribute to the creation of an effective system of support for business entities, especially in the period when their activities are formed, to strengthen guarantees for the reliable protection of rights and legitimate interests, to fully promote the priority role, as well as the inviolability of private property and entrepreneurship, in business activities in the regions and cities of the republic. The senators approved the law.