Tashkent, Uzbekistan (UzDaily.com) -- A Center for Economic Research and Reforms survey among entrepreneurs showed that the improvement of the composite business climate index was significantly influenced by the positive dynamics of indicators in agriculture and industry. 

At the same time, the solution of 8.5 thousand individual business problems during the preparation of the “Dialogue of the President with Entrepreneurs” and additional support measures significantly improved indicators of the current state and expectations of business development prospects.

The Center for Economic Research and Reforms (CERR) conducted another round of a survey among enterprises throughout the country. More than 1,500 companies took part in the August survey in two areas: a qualitative assessment of the current state of the business and entrepreneurs’ expectations regarding business development prospects for the next three months.

In August, the consolidated indicator of the business climate improved by 11 points compared to the previous month and amounted to 64 points, which assesses the state of the business climate in the country as positive. The improvement of the composite index was significantly influenced by the positive dynamics of business climate indicators in agriculture (growth from 45 to 65 points) and industry (from 47 to 67 points). The business climate indicator in the services sector remained unchanged at 63 points.

In the sectoral context, the indicator of the business climate in the field of agriculture amounted to 65 points, services - 63 points, in construction - 52 points and industry - 67 points.

The solution of 8.5 thousand individual business problems during the preparation of the “Open Dialogue between the President and Entrepreneurs” and additional support measures announced during the event in August this year significantly improved the indicator of the current state of business (growth from 39 to 55 points) and the Indicator expectations of development prospects (growth from 69 to 74 points).

In terms of sectors, a sharp increase in the Current State Indicator was noted in agriculture (+30 points) and industry (+29 points).

The share of respondents who noted the current state of their business as good increased from 43% to 49%, and vice versa, the number of respondents who noted deterioration decreased from 17% to 12%.

26% of enterprises increased the number of their employees, and 46% noted an increase in demand for their goods/services.

Optimistic expectations of business development prospects in the next 3 months are characterized by the fact that 73% of enterprises assess the improvement of their business prospects, 69% expect a further increase in demand for goods and services, and 66% plan to increase the number of employees.

An analysis of the relationship between the values of the current situation and expectations shows that, according to the estimates of business entities, a positive trend in the development of the economy will continue in the next 3 months.

Among all respondents, 50% stated that there were no obstacles in the development of their entrepreneurial activities.

However, representatives of enterprises indicated the need to support their business. Among the most worrying problems for entrepreneurs (in descending order) is access to finance, followed by tax administration, land allocation, high tax rates, lack of raw materials, water supply and others.