Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan will continue economic reforms and increase support for the private sector. This was stated by the President of Uzbekistan Shavkat Mirziyoyev in his address to the Parliament.

“We will resolutely continue economic reforms, we will increase support for the private sector, fully mobilizing internal capabilities for this. And first of all, we will accelerate reforms to further improve the business environment,” the President noted.

First of all, new approaches will be introduced to reduce economic inequality between regions and the balanced development of all districts and cities, the President said.

“Starting from next year, districts and cities will be divided into 5 categories based on existing conditions, potential and opportunities. Thus, 26 districts with a comprehensive development in terms of entrepreneurship will be classified in category 1, 46 districts with good infrastructure - in category 2, 76 districts with (relatively) satisfactory conditions - in category 3, 40 districts that are not attractive enough for business - in category 4, and 20 districts with difficult conditions - to the 5th category,” said Shavkat Mirziyoyev.

The course of the economic development of the district will now be determined depending on its category. Based on the category, subsidies, loans and compensation will be allocated to entrepreneurs. Tax rates will also be differentiated.

For example, for the 20 most difficult districts belonging to the fifth category, we will set the rates of turnover tax, profit tax and social tax at 1 percent. Entrepreneurs in these areas will pay only 1 percent of the amount assessed for land and property tax, and individual entrepreneurs will be exempted from paying fixed taxes, the President noted.