Afrosiab St. 4B, Office 201, Tashkent, Uzbekistan 100031

“Further improvement of the business climate in Uzbekistan: tax, customs, and other issues”

On June 2, American Chamber of Commerce in Uzbekistan representatives, namely Shadab Ahmed Khan, President, Vera Bell, Treasurer, and Tatyana Bystrushkina, Executive Director, participated in a meeting organized by the Ministry of Finance “Further improvement of the business climate in Uzbekistan: tax, customs, and other issues”.

The open policy dialogue gathered several representatives from both private and public sector. Public sector was represented by the Deputy Minister of Finance of the Republic of Uzbekistan, agents from the State Tax Committee, State Customs Committee, Center for Economic Research and Reforms. Private sector was mainly represented by AmCham members, especially Coca-Cola, Procter & Gamble, Ernst & Young, Oriflame, and Dentons.

The main goal of the round table was to launch constructive dialogue between public and private sectors in the sphere of taxation, customs to contribute to business enabling environment and improvement of investment climate.

The round table was opened and moderated by the Deputy Minister of Finance of the Republic of Uzbekistan, Dilshod Sultanov.

As per a survey on hinders in investment and tax and customs policies, that was conducted among AmCham members, several issues were raised across different sectors of the economy, such as agriculture, IT, telecommunication, FMCG, and production.

Shadab Ahmed Khan, President of the American Chamber of Commerce, gave a speech regarding a role that foreign direct investors play in the development and growth of the economy of Uzbekistan. He emphasized the commencement of the project of new reforms or “Reforms 2.0”. Additionally, he highlighted the importance of constructing a consistent and predictable tax and fiscal policy system, as this would ease the way for foreign investors to enter the Uzbek market.

In general, all the panelists were discussing the significance of the so-called “3T”, which stands for trust, transparency, and technology, as those concepts play a crucial role in building up a strong and committed relationship among state authorities, foreign investors, and private sector.

The meeting concluded with mutual consent from both sides to conduct the open dialogue on a more frequent basis. The next round table will touch upon pressing issues of each sector separately. AmCham representatives spoke in support of arranging a consistent and regulated dialogue, which would help both private and public sectors.

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