Our entrepreneurs are well aware that financial resources become more expensive due to inflation, - Mirziyoyev

Today, on August 18, President Shavkat Mirziyoyev is engaging in an open dialogue with entrepreneurs. To commence the event, the head of state presented prestigious state awards to active entrepreneurs, as announced by the President's press secretary, Sherzod Asadov.

Currently, the President is delivering a speech outlining the priority tasks for entrepreneurial development within the country.

"Our entrepreneurs are well aware of the impacts stemming from factors such as disruptions in logistics and product supply chains due to various conflicts, currency devaluation in partner countries, and the heightened costs of financial resources due to elevated global inflation. It must be acknowledged that challenges lie ahead. I firmly believe that by learning from our shortcomings and propelling ourselves forward, our diligent populace and enterprising entrepreneurs will undoubtedly overcome any difficulties," stated the head of state at the outset of his speech.

The event emphasized that, in these intricate circumstances, the most effective approach involves directly addressing issues with business representatives, jointly finding solutions, and making swift decisions.

It's worth noting that, based on proposals from the previous year, business entities have been categorized into micro, small, medium, and large, with tailored approaches established for each category. Districts and cities have also been classified into five distinct categories, resulting in the introduction of separate tax, credit, and financial aid systems for 60 districts. Consequently, entrepreneurs in these districts have reaped benefits worth nearly 1 trillion soums over the past six months.

This initiative has led to a 1.5-2 times increase in income for entrepreneurs in 20 districts compared to the previous year. The value-added tax refund period has been shortened, resulting in the refund of 20 trillion soums to 6 thousand enterprises in the past year.

"In particular, the implementation of a procedure for promptly returning value-added tax to disciplined exporting enterprises, without waiting for foreign exchange earnings from exports, has deposited 7 trillion soums into the accounts of over 2,000 entrepreneurs," the report states.

Additionally, the waiver of tax debts arising from the use of inefficient tax mechanisms has left businesses with 2 trillion soums at their disposal.