World Bank Document

Strategic Theme 2: Enhance Competitiveness of the Economy 

 

14. 

The competitiveness agenda (second tier of the CPS) focused mainly on advisory 

assistance. Through technical assistance, the World Bank Group advised the government on how 

to improve the regulatory framework for the private sector, aiming to reduce the cost of doing 

business, and hence foster entrepreneurship. Improvements supported by the joint World Bank/IFC 

advisory work

17

 included simplification of permit procedures for businesses that contributed to 

significant improvements in the Doing Business metrics. Complementing these efforts, IFC has 

been providing advisory to the State Tax Committee of Uzbekistan on the development and 

implementation of Risk Based Audit System to risky taxpayers. The system module for taxpayers 

in simplified tax regime is already implemented, while the one for other taxpayers is in 

development. MIGA complemented these by helping Uzbekistan attract and retain foreign direct 

investment. In 2012, MIGA issued a US$119.5 million guarantee for the Khauzak-Shady Block 

and Kandym Field Group project. 

 

15. 

The interventions in a financial sector with low financial intermediation aimed to