Uzbek leader Islam Karimov said first of all, it is necessary to strengthen rights and protection of private property, create system of reliable guarantee, which should make sure each proprietor that legally bought or created private properties are untouched. He said that entrepreneurs should know that they can invest to their businesses without fear, expand production activity and increase production volume and receive income, own, use and order their properties. He added that they should know that the government is on guard to protect rights of private proprietors.

He added that it is necessary to develop and adopt the law “On protection of private property and guarantees of properties’ rights”, which would strengthen main guarantees of the state regarding private property, which is foundation of market economy.

President Islam Karimov underlined that it is important to adopt a law “On permissive procedures in entrepreneurship activity”, which would improve system of management and eliminates excessive bureaucratic barriers.

He said that it is important determine list and types of permissive procedures, necessary for doing business and resolutely decrease excessive and set legislative ban to introduction of permissions and permissive procedures.

President Islam Karimov noted it is also necessary determine new organizational-legal forum of business by legislation – family business. He said that this form of business fully meets national traditions of doing business and realities of economic activity. “I am sure that creation of legislative base for its organization will allow to raise legal guarantees of family business and create conditions for fast development of family business in various sectors of economy and foundation of new jobs.”

Uzbek head said that it is actual issue to adopt laws, which would ensure further expansion of role and share of small business, including private entrepreneurship, in economy of Uzbekistan.

He underlined that share of small business in 2010 will exceed 50% of GDP, but it does not hold leading role in real economy, first of all, in industry.

President Islam Karimov said it is necessary to prepare new edition of law “On guarantees of free entrepreneurship activity” to solve this task. He said that the law should envisage simplification of scheme of access for creation of small and private businesses, provide freedom for their activity, stimulate this sector due to such mechanisms as crediting, access to resources, receiving state orders, providing new preferences for realization of their products, further simplification of system of financial and statistics reporting, etc.

Uzbek leader said the antimonopoly legislation play key role in developing competition. He said that current law “On competition and limiting monopoly activity in goods markets” is outdated and does not meet on modern requirements.

Islam Karimov underlined that new law “On competition” should be adopted and include norms regulating monopoly activity in goods and financial markets, as well as antimonopoly regulations on exchange trades, simplify procedures on control and regulation of deals on mergers, acquisitions and purchase of shares.

Currently, 80% of GDP in Uzbekistan is provided by non-governmental sector, he said. The Uzbek leader said that it is necessary to review law “On denationalization and privatization”, which was adopted in 1991.

Uzbek leader said that it is necessary to expand share of non-governmental sector and attract new private investors to importance industries of economy, keeping controlling stakes or “golden share” in strategic industries and enterprises of Uzbekistan. At the same time, he called to ensure openness and publicity of privatization sector, expand participation of private sector in privatization process, ensure equal access to privatization for all categories of potential investors.

Islam Karimov also said it is important to adopt new laws to further promotion of free economic market, including law “On activity of credit bureaus and exchange of credit information”, law “On pawn registrar”, law “On innovation and modernization of economy” and others.

Uzbek President underlined that it is necessary pay attention to increasing internal demand, determining important perspectives and priorities of economic development of Uzbekistan. He said it is necessary to pay attention to implementation of projects on introduction of infrastructure, transport and communication objects, raising wages.