Tashkent, Uzbekistan (UzDaily.com) -- Deputies of the Legislative Chamber of the Oliy Majlis have passed in the first reading a bill approving the Entrepreneurial Code. This was reported by the press service of the lower house of parliament.

It is noted that the consolidation of more than 100 legislative acts will regulate entrepreneurial relations through a unified document. This contributes to reducing state intervention in business and establishes a unified approach in the field of entrepreneurial law.

The project reinforces the fundamental principles of entrepreneurial activity, such as legality, freedom of entrepreneurship, equality of subjects, fair competition, presumption of good faith, and freedom from corruption. Entrepreneurial entities will be classified into small, medium, and large categories.

The document defines the boundaries and forms of state regulation of entrepreneurship. The project includes lists of 147 control functions of 39 state bodies and 20 types of inspections, which are conducted with the notification of the Business Ombudsman. All inspections not included in the list are proposed to be conducted only with the consent of the Business Ombudsman.

The bill introduces a system to support women’s and youth entrepreneurship. It defines social entrepreneurship, social enterprises, and mechanisms to support socially disadvantaged groups of the population.

In addition, the draft law specifies types of activities that individual entrepreneurs cannot engage in, while giving them the right to engage in any activity not prohibited by law.