Uzbekistan took 69th place in the annual ranking of the World Bank group's “Doing Business 2020” among 190 countries, gaining 69.9 points out of 100 according to the results of 2019. Compared to last year’s rating, the country rose by 7 positions.
According to the World Bank experts, the key reforms in improving the business climate in Uzbekistan are the following:
- Strengthening the protection of minority investors by expanding the rights and role of shareholders in key corporate decisions, clarifying ownership and control structures, as well as increasing corporate transparency;
- Simplification of taxation by combining tax on the development of social infrastructure with income tax;
- Simplification of international trade by introducing a risk-based customs inspection mechanism, as well as easing the requirements for import documents;
Simplification of enforcement of contracts through the adoption of a law on voluntary mediation, as well as the creation of financial incentives to encourage parties to resort to the resolution of disputes through mediation.