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Economy 10/09/2008 WB, IFC present annual report "Doing Business 2009"

Doing Business provides a quantitative measure of regulations for starting a business, dealing with construction permits, employing workers, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and closing a business - as they apply to domestic small and medium-size enterprises.

Over 6,700 experts in places, including consultants on doing business, lawyers, accountants and government officials and scientists from many countries of the world support the project. This year, the project covers 181 countries. . The new report identifies 239 reforms between June 2007 and June 2008 that make it easier to do business in 113 economies.

According to the report, Uzbekistan jumped from 145th place in last year’s report to 138th place thanks to establishing a private credit bureau and a public credit registry to share credit information among financial institutions.

The report also notes decrease of tax burden, which resulted in decrease of income tax and single tax payment in 2007. The report underlined adoption of new Tax Code in Uzbekistan.

Umar Shavurov, specialist of "Doing Business 2009", IFC, said the government of Uzbekistan is moving in right direction, He said that the establishment a private credit bureau and a public credit registry to share credit information among financial institutions was significant and it will improve access of population to credit resources.

At the same time, he pointed to the areas, where the government should focus to improve situation. He said the government should pay attention to procedures on property registration, taxation and others.
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