The law was approved at the Eighth session of the Senate of Oliy Majlis of Uzbekistan, which kicked off in Tashkent on 23 March 2012.

The document was developed in order to create maximum favourable conditions for further developing entrepreneurship activity, providing preferences and guarantees to business entities, including state support.

One of main novelties of the law is establishing of principle on priority of rights of business entities. In line with the norms, any contradictions and vagueness of the legislation will be interpreted in favour of business entities.