UzA English

07.08.2018 22:01

Investments and economic prosperity

Investments and economic prosperity
A roundtable discussion on this theme was held at the Ministry of Justice.

The event was attended by entrepreneurs from Tashkent, foreign investors, representatives of consulting firms.

At the event, the specialists of the sphere told about the essence and significance of the Decree of the President of Uzbekistan “On measures of cardinal improvement of the investment climate in the Republic of Uzbekistan” of August 1, 2018.

The decree defines the procedure according to which the khokims of districts (cities) allocate non-agricultural land plots for long-term lease to enterprises with participation of foreign investments for up to 50 years, but not less than the time specified in the application for the implementation of investment projects.

In addition, the Chairman of the Council of Ministers of the Republic of Karakalpakstan, khokims of the regions and Tashkent were granted the right to conclude investment agreements with foreign investors when implementing investment projects with a share of foreign investments in the equivalent of no more than $10 million.

The program of measures on increasing the investment attractiveness of the country also provides for the drafting a single legislative act on streamlining investment activities, the abolition of the practice of imposing a fine on business entities for the late transfer of foreign exchange earnings to their settlement accounts, and fundamental reform of licensing procedures.

Mukhayyo Toshkorayeva, UzA
7 033