GENERAL MANAGER OF SAMSUNG: UZBEKISTAN IS AN INDUSTRIAL HUB

In recent years, small business and private entrepreneurship are rightly becoming the driving force of economic growth in Uzbekistan.

Measures implemented in the country for its broad support, improvement of the business environment, development of reliable systems for the protection of the rights and guarantees of private property, reduce of the tax burden contribute to the expansion of the share and significance of this sector. Country’s success achieved in this area receives widespread acceptance in the world.
Thus, results of the Republican conference-seminar "On measures to enhance the role and responsibility of law enforcement agencies in the implementation of the Programme of further reform, structural transformation and diversification of the economy in the period of 2015-2019", which was held on September 8, 2015 in Tashkent, caused a wide resonance among experts and business circles of foreign countries.

Yong Sop-moon, General Manager of Samsung Engineering Co., Ltd (South Korea):

— The adoption in Uzbekistan in 2015 of a special program aimed at ensuring the reliable protection of private property, small business and private entrepreneurship, gave a new impetus to the development of this sector and has become a powerful stimulus signal to foreign investors.

The economic policy of the country carried out taking into account the needs of small businesses and private entrepreneurship, which, in turn, promotes the growth of business activity. Cut permits and other procedures, benefits package and the system of financial support - all this opens up opportunities for entrepreneurs.

I am sure that such an approach leads to economic leadership of Uzbekistan in the region and strengthens its potential as an industrial hub.

Rakesh Pandey, CEO of BRAVO Pharmaceuticals Pvt. Ltd. (India):

— The initiative of the President of the Republic of Uzbekistan to hold such a conference-workshop is particularly relevant, as directed for support of small business and entrepreneurship, which is the engine of the economy of any country.

It is gratifying that Uzbekistan improve the business environment is given special attention. As an investor, I think it will certainly play an important role in increasing investment and economic development.

Florence Jansons, a representative of the Chamber of Commerce of Latvia in Uzbekistan:

— The republic’s economy is developing rapidly and it has become particularly evident in recent years, when at the initiative of President Islam Karimov the government has taken serious and important decisions on the sale of the state share of large enterprises and the privatization of commercial properties.

Thus the continued liberalization of the economy, creation of favorable conditions for doing business and attracting foreign investment. Noting that such measures increase confidence and interest in Uzbekistan and of its economic policy.

Many European companies, including Latvian, have shown interest in setting up joint ventures in the country, and hopefully in the near future we will be able to implement a number of projects involving foreign investment.

A key role in achieving strong economic performance also played a number of decisions on the creation of favorable conditions for the development, support and protection of private property, small business and private entrepreneurship.

Working in Uzbekistan, representing the Chamber of Commerce in Latvia, I am no stranger to the results achieved since the adoption of these measures and their impact on business activity in the country. Uzbek and Latvian businessmen say that to do business is becoming easier, there are new directions it actually increased the possibility of obtaining a good profit.

Alex Averbukh, Head of the State Corporation for insurance of risks in international trade Ashra (Israel):

— High macroeconomic indicators show the effectiveness of the "Uzbek model of development", which has successfully passed the test for consistency during the acute phase of the global financial and economic crisis. The strategy of deep reform of the economy, which has been chosen by the country since the first days of independence, proved its steadiness to external negative factors. The evolutionary method of transition to a market economy, while maintaining a strong social policy, provided political stability in the country.

The volume of attracted investments, as well as the world’s leading companies striving to gain a foothold in the capacious Uzbek market indicate the presence of a huge economic potential and create the country’s investment climate.

Information Agency Jahon