A new stage of reforms has begun in the e-commerce sector of Uzbekistan

A new and important stage of digital transformation is beginning in the economy of Uzbekistan. This was reported by Zamin.uz.

President Shavkat Mirziyoyev reviewed a presentation on reforming the e-commerce sector in line with modern requirements and introducing a bonded warehouse system that has proven effective in international practice. These innovations are aimed at fundamentally improving the country's trade system and increasing economic efficiency.

In recent years, the culture of online shopping has grown significantly in our country. The volume of e-commerce has reached 1.3 billion dollars, and today more than 120 platforms are operating successfully.

Through this system, 750,000 of our fellow citizens have gained a stable source of income. However, compared to global experience, we still have many untapped opportunities.

At a time when nearly 22 percent of retail trade worldwide is conducted online, this figure in Uzbekistan is still around 4-5 percent. As one of the key factors for developing e-commerce, it is proposed to establish bonded warehouses.

The advantage of this system is that imported goods are stored in special warehouses under customs control. Customs duties and taxes are paid not while the goods are in the warehouse, but at the moment they are sold to a specific buyer.

This approach serves to save entrepreneurs' working capital and significantly reduce logistics costs. In the coming years, a new mechanism will be introduced on a trial basis.

According to it, the warehouse network of large international trade platforms will be expanded and fully integrated with customs and tax systems. This process will pave the way for attracting at least 500 million dollars in direct investment.

Today, only 34 percent of warehouses in our country meet high-quality standards. Over the next five years, there will be a need for 2.5 million square meters of modern space.

Bonded warehouses will not only facilitate imports but also serve as a convenient bridge for our local producers to bring their products to foreign markets. The head of state gave specific instructions on making the sector transparent and creating a favorable environment for digital platforms.

This indicates that in the near future, online shopping will become even more affordable, faster, and safer.