Uzbek Lower House Passes Bill Letting Individual Entrepreneurs Use Leasing

Uzbekistan says it gives priority to supporting entrepreneurship. A bill that makes it easier for individual entrepreneurs to obtain leasing services has been adopted. Under the changes, individual entrepreneurs now have the same rights as legal entities when receiving leasing services.

The bill was considered in the second reading in the lower house of parliament. Deputy Nargiza Salomova said the document expands opportunities for individual entrepreneurs to lease, and improves the legal basis of leasing relations. Under the bill, the leased asset will be recorded on the balance sheet of the lessor when the lessee is an individual entrepreneur. Salomova said this removes a restriction caused by entrepreneurs not having an accounting balance sheet.

The bill has been adopted and sent to the Senate.