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Uzbek Government Continues the Policy of Attracting Foreign Investors in Joint-Stock Companies

The number of joint stock companies with state share in Uzbekistan, compared to 2015, decreased by almost two times. And this trend will be continued. President Shavkat Mirziyoyev by his decision has extended the terms of attracting foreign investors to joint-stock companies.

The decision of the head of state gives the positive assessment of the implementation of measures to attract to joint-stock companies of strategic foreign investors, ensuring their active participation in the modernization and technological renewal of production, the development of competitive products and their promotion on foreign markets, as well as the introduction in enterprises of modern methods of corporate management.

However, it is also noted out 17 joint-stock companies lucrative for attracting foreign investment due to inaction of their heads and inefficient organization of the management left behind the schedule to attract foreign investors.

Therefore, the Resolution of the President from January 23, 2017, provides for the prolongation of the terms of attracting foreign investment to joint-stock companies, and made some other amendments have been introduced to the previously adopted regulations.

The Resolution approved two lists. 26 companies included in the first list must complete the work on attraction of foreign investors before 1 October 2017, and another 61 companies included in the second list must complete the same work by 31 December 2017.
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