Azernews.Az

By Abdul Kerimkhanov

World Bank expert Julian Vilcuin proposed to prepare a subnational Doing Business in Uzbekistan report.

With such a proposal, he spoke at a briefing at the Embassy of Uzbekistan in Washington, Uzbek media reports.

According to the Ministry of Foreign Affairs of Uzbekistan, Vilcuin in his report on the topic “Doing business at the regional level” focused on the need to intensify work to increase the awareness of foreign investors about the opportunities for business development created in Uzbekistan. For this, he suggested that Uzbekistan, jointly with the WB, prepare a so-called subnational Doing Business in Uzbekistan report.

As expert informs, the subnational report will allow to evaluate the strengths and weaknesses of each region of the country, as well as to point resources to eliminate the existing problems.

In addition, this analysis will be actively used by foreign investors in the process of choosing a place to invest.

In his report on the theme “Uzbekistan and Central Asia: Development Prospects”, the WB Senior Officer for Central Asia Paul Kirby presented the bank’s vision of the current global economic situation and its influence on the processes in the region. The expert said that the past 2018 was marked by sharp jumps and declines in global production and exports.

Kirby called the main achievements of the Uzbek government over the past two years the transition to free exchange and the granting of broader powers to the Central Bank. A timely decision on the implementation of reforms has become the guarantor of "predictable inflation."

The co-author of the Doing Business-2019 report, Edgar Chavez, informed the participants about the achievements of the countries of Eurasia, as well as of Uzbekistan on the implementation of reforms in the field of creating favorable conditions for business.

In the Doing Business-2019 report, the republic took the 76th position with 67.40 points out of 100, which is 1.08 points more than a year earlier. In particular, Uzbekistan maintains a leading position in the Start Business category, ranking 12th in the world, as well as high rates in the categories Connecting to the power supply system — 35th place and Contract Enforcement — 41st.

In Uzbekistan, the WB today funds the implementation of 19 projects totaling $ 3.4 billion to support the economic and social development of the country. These projects include support for macroeconomic reforms, agriculture, the water and sanitation sectors, health, education, energy, transport, and regional development. They contribute to the country’s economic growth and higher living standards for the people of Uzbekistan.

Founded in 1944, the WB has 189 member countries, staff from more 170 countries, and offices in over 130 locations. WB has more than 10,000 employees in more than 120 offices worldwide.

Today the Bank Group’s work touches nearly every sector that is important to fighting poverty, supporting economic growth, and ensuring sustainable gains in the quality of people’s lives in developing countries.

Doing Business is annually published by the World Bank Group, which assesses regulatory standards in entrepreneurial activity.

Doing Business sheds light on how easy or difficult it is for an entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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