Zafar Hoshimov, founder of the Korzinka supermarket chain, shared his thoughts on the changes taking place in the service and trade sectors, strategic planning, and new opportunities. He heads the Association of Trade and Service Entrepreneurs, established at the initiative of the head of state.
Important news in the service sector
On February 7, at a videoconference meeting chaired by President Shavkat Mirziyoyev, it was announced that the social tax exemption for enterprises operating in the trade and service sectors will be extended for three years.
Zafar Hoshimov assessed this meeting as “an example from a classic strategy textbook” and noted that many important issues for entrepreneurs were discussed at the meeting. He noted that clear answers were developed to such important questions in strategic planning as “where?”, “when?”, “with what resources?”.
Social tax exemption and its impact
According to Hashimov, the 1% social tax exemption, which was valid until December 31, 2024, has shown its effectiveness. As a result, this period has been extended for another three years. In 2022, thanks to this exemption, the number of enterprises increased by 1.5 times, and the number of employees by 220 thousand. Many enterprises came out of the “shadow” and began to pay official salaries, and as a result, wages increased by 3.2 times, providing an additional 2.1 trillion soums in tax revenue.
Now the new exemption will apply to service sector workers under the age of 30, who receive a salary of at least 3 million soums. At the same time, control will be strengthened to eliminate the practice of paying salaries “in an envelope”.
Trade and Service Entrepreneurs Association
As noted by Zafar Hoshimov, the newly established association will operate with 10 founders and serve as a “center of support, assistance, advice and expertise” for government agencies, entrepreneurs and individuals who want to develop their business.
Through the association, it is planned to increase the number of jobs in the trade and service sectors from 2.5 million to 3 million, bring enterprises out of the “shadow” and increase the purchasing power of the population.
“Although the service sector is developed today, it still has enormous potential,” says Hoshimov. He expressed confidence that the development of the service and trade sectors can reduce unemployment and poverty in the country.
Activity and exchange of experience in the regions
In an interview with the Uzbekistan 24 TV channel, Zafar Hoshimov, as the chairman of the Association of Retail Trade and Catering Enterprises, said that members of the new association will organize visits to the regions, attract entrepreneurs and share their experience and knowledge with them. Currently, more than 50 thousand employees work in the companies affiliated with the association.
New opportunities for entrepreneurs
It was announced that unsold state-owned facilities will be directly leased to entrepreneurs for 10 years, and if they make payments on time for four years, they will be able to privatize these facilities. In addition, entrepreneurs who organize IT and foreign language courses will not be charged rent for the first year.
Zafar Hoshimov noted that the service sector plays an important role in the development of the country’s economy. The creation of a new association will serve to accelerate this process and create wider opportunities.
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