The results achieved in the Index of Economic Freedom as part of the Action Plan to improve the position of the Republic of Uzbekistan in priority international ratings and indices of the socio-economic sphere for 2021

16/03/2022 - 11:44 1985

1. Law supremacy:

In order to automate the processes of filing, receiving, examining and registering applications for registration of intellectual property objects, the “Portal for the Protection of Industrial Property” (my.ima.uz) was created.

In the period from February 15 to March 15, 2021, the month of “Month without counterfeit” was held in the republic. In the course of preventive measures carried out jointly with the territorial bodies of justice and tax authorities, more than 2,000 facts of the sale of counterfeit products were revealed.

5 resolutions of the Cabinet of Ministers of the Republic of Uzbekistan on customs and tax legislation have been developed (introduction of a customs audit, improvement of the customs examination procedure, simplification of requirements for customs clearance of foreign raw materials and materials).

The possibility of online viewing of real estate objects, including the boundaries of real estate objects located in the city of Tashkent (http://map.geoportal.uz/#/) has been created.

The Law of the Republic of Uzbekistan dated August 17, 2021 № LRU-708 “On amendments and additions to certain legislative acts of the Republic of Uzbekistan in connection with the allocation and use of land plots, as well as improving the system of land registration and maintaining the state land cadastre” was adopted.

With court decisions rendered by courts in civil, criminal, economic and administrative cases at all levels (with the exception of court decisions rendered in closed court sessions), in order to ensure familiarization via the Internet on the official web page of the Supreme Court (https://public .sud.uz/#!/sign/view) data is posted permanently.

Decree of the President of the Republic of Uzbekistan dated June 16, 2021 № PD-6247 “On additional measures to ensure the openness of the activities of state bodies and organizations, as well as the effective implementation of public control” was adopted.

 

2. Degree of government intervention:

By Decree of the President of the Republic of Uzbekistan dated December 30, 2020 № PD-4938, target indicators of budget allocations allocated for healthcare, public education, roads and water management were experimentally approved.

The Ministry of Finance on the websites (https://openbudget.uz/ and https://www.mf.uz/uz/) constantly posts information on government revenues and expenditures of the Republic of Uzbekistan.

In accordance with the approved auction schedule for 2021, government securities worth 4,866.3 billion soums were placed at 64 auctions.

 

3. Regulatory efficiency:

Since the beginning of 2021, the Central Bank has continued to work on improving the operating mechanism, increased the time for conducting overnight transactions, and overnight deposits began to be repaid at the beginning of the next day.

Decree of the President of the Republic of Uzbekistan dated March 17, 2021 № PD-5031 “On measures to continue the introduction of a market mechanism in the processes of selling highly liquid and monopoly goods”, in accordance with it, polyvinyl chloride, oil, gas condensate, ethyl alcohol, formalin, silver and extraction cottonseed oil is included in the list of highly liquid and monopoly types of goods subject to exchange trading.

From October 1, 2021, when legal entities sell natural gas imported to the Republic of Uzbekistan, a zero percentage excise tax rate, a deferral (installment plan) of paying value added tax for up to 120 days without accruing interest and ensuring its payment are established.

 

4. Market openness:

Decree of the Cabinet of Ministers of the Republic of Uzbekistan dated September 23, 2021 № CMD-596 “On measures to introduce a system for transferring state functions to the private sector” was adopted.

According to the calculations of the International Trade Center, at the end of 2020, the weighted average rate of import customs duties in Uzbekistan amounted to 4.7 percent (in the previous report, this figure was 14.8 percent), the arithmetic average rate was 7.4 percent.

With the practical assistance of the prosecutor's office, on 3,578 loan documents of banks, the return of credit debt in the amount of 476.5 billion soums was ensured, and damages in the amount of 1.7 trillion soums were recovered during checks, the violated rights of 3,134 persons were restored, 180 criminal cases were initiated on the facts gross violations of the law.

For reference: the Index of Economic Freedom regulates the positive relationship between economic freedom and various positive socio-economic goals. Ideas of economic freedom are closely linked to healthy societies, high per capita income, human progress, democracy, and poverty reduction.

In the annual report “The Index of Economic Freedom - 2022”, Uzbekistan ranked 117th and, according to the index methodology, remained among the countries with a predominantly non-free economy.

The Heritage Foundation assessed the decline in this index as a major factor in the fact that the COVID-19 pandemic has led to significant fluctuations in the economic conditions of countries around the world, including in the degree of economic freedom, and that the index methodology has changed.

The action plan to improve the position of the Republic of Uzbekistan in priority international ratings and indices of the socio-economic sphere for 2021 was approved by the protocol №4 of the meeting of the Republican Council for work with international ratings and indices (February 22, 2021).

 

Information Service of the

Ministry of Economic Development and Poverty Reduction