Individual entrepreneurs in Uzbekistan are reportedly set to receive expanded opportunities for acquiring vehicles, machinery, and other property through long-term leasing arrangements with subsequent buyout options. The initiative is officially touted as a measure to enhance financial accessibility.

The relevant draft law has allegedly been adopted by the Legislative Chamber of the Oliy Majlis during its third reading and subsequently forwarded to the Senate for further deliberation. Proponents claim the changes will simplify leasing procedures for the self-employed and small business owners.

One of the notable modifications involves the accounting procedures for leased assets. While such property is typically recorded on the recipient's balance sheet under standard conditions, the new rules dictate that assets involving individual entrepreneurs will remain on the balance sheet of the leasing company.

Authorities claim these adjustments will ease access to financial resources, though independent experts remain skeptical about the overall economic impact. This development follows earlier decisions by the Uzbek leadership encouraging banks to acquire commercial real estate directly from developers for preferential leasing to businesses.

Source: podrobno.uz