With the adoption of the Actions Strategy for 2017-2021, Uzbekistan has entered a new phase of dynamic reforms.
In the economy, an agenda of liberalization of economic relations on the basis of market relations, including in foreign trade, foreign exchange and monetary policy have been taken. Particular attention is paid to the development of the private sector and entrepreneurship, improving the investment climate.
Currently, the Republic of Uzbekistan is consistently implementing measures aimed at reducing State participation in the country’s economy, and is undergoing a transition to market mechanisms and indicators of State influence on the economy.
In this regard, the quality and effectiveness of the competition policy, which is designed to provide equal opportunities (level playing field) for all market players, as well as low prices, high quality and variety of goods and services for consumers, has a great importance.
Foregoing is crucial for the national economy, where the methods of current antitrust regulation come down to price regulation, which is not consistent with international practice and does not contribute to the influx of investments, innovations and private capital into monopolized sectors.
It is essential that the process of liberalization of the economy and further denationalization does not lead to the emergence of monopolies when regulatory instruments change.
Otherwise, this discredits the ongoing reforms and does not lead to the expected improvement in the competitive environment, competitiveness of industries, and also to improve the quality of goods and services for consumers.
To achieve the above goals, in accordance with the Decree of the President of the Republic of Uzbekistan dated January 14, 2019 No. UP-5630 “On measures to radically improve the system of managing State Assets, Antitrust Regulation and the Capital Market”, the Antimonopoly Committee of the Republic of Uzbekistan was created.
The primary goals of the newly-created Antimonopoly Committee are to increase the efficiency of the Competition Policy and the Antitrust Regulation system, protect the rights and lawful interests of consumers through the introduction of emerging best methods and instruments of antitrust regulation, including the digitalization of processes, an in-depth analysis of the structure of markets and the root causes of structural deformations in the economy preventing the formation of a healthy competitive environment.
In order to realize these tasks, it is vital to create an effective system of “feedback” with participants of commodity and financial markets, consumers and the expert community.
To that end, the Antimonopoly Committee has created a discussion platform called “Competition 4.0.”.