Draft Entrepreneurship Code is brought up for discussion in Uzbekistan

The draft Entrepreneurship Code (the “Draft”), developed by the Ministry of Justice, was brought up for discussion on May 30, 2022.

The Draft consists of 8 sections, 34 chapters and 385 articles and combines 9 existing laws, 2 draft laws and 10 legal acts regulating the organization and termination of business.

The Draft provides:

• the division of business entities into small, medium and large;
• the reduction of the base of organizational and legal forms of economic entities, the abolition of the organizational and legal form of “economic company”;
• the definition of the types of activities that individual entrepreneurs cannot engage in. They are granted the right to carry out any activity not prohibited by law;
• the definition of boundaries and forms of state regulation of entrepreneurship;
• the approval of 146 control functions of 43 government agencies and a list of 18 types of inspections carried out in order to notify the Business Ombudsman, etc.