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Home / Opinion / In Uzbekistan there will be an Investment Code and...

In Uzbekistan there will be an Investment Code and a number of new concepts


The project on the concept of the Investment Code, developed by the State Committee for Investments, is presented on the portal regulation.gov.uz.

The document provides an assessment of the current state of investment legislation in Uzbekistan. This is a significant array of normative legal acts scattered across various sectors, which reduces its effectiveness and complicates enforcement. Therefore, it is proposed to systematize and codify existing norms in this area.

The concept developers envisaged introduction of such innovations in the investment sphere as introduction of a single legal regime for both domestic and foreign investors, new guarantees against discrimination and unfavorable changes in legislation.

In addition, the legislation is planned to introduce such innovations as an investor visa; investment loan; investment tax credits; investment subsidies; revised terms of concessions and Production Sharing Agreements (PSAs); foreign investment; additional guarantees for foreign investors.

With the adoption of the Code, there will be a transition from direct government regulation of investment relations to a system for monitoring, supporting and stimulating their subjects.

It is expected that the adoption of the document will help reduce the facts of interference in the activities of the subjects of investment activities on the part of state and economic management bodies and their officials.
The existing gaps and conflicts in this area will be eliminated.

The adoption of the code will help to strengthen the support of investors, more efficient and quick consideration of their appeals, timely protection of violated rights and legal interests of investors regardless of nationality.

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