National Venture Fund is being created in Uzbekistan
On November 3, 2020, the Cabinet of Ministers adopted a Resolution “On measures to organize the activities of the National Venture Fund “UzVC”” No.ПКМ-684.
Fitch Ratings assigned “BB- (EXP)” rating to debut Eurobonds of Ipoteka-Bank
Fitch Ratings has assigned an expected Long-term rating of 'BB- (EXP)' to the upcoming issue of Ipoteka-Bank's senior unsecured US dollar-denominated Eurobonds.
Licensing procedure for credit bureaus changed in Uzbekistan
The Resolution of the Board of the Central Bank, registered under No.3042-2 dated November 6, 2020 amended the Regulation “On the procedure for registration and licensing of credit bureaus” (the “Regulation”).
In Uzbekistan a Presidential Decree on reforming enterprises with State participation and the privatization of State assets has been adopted
In the framework of the Presidential Decree No.УП-6096 “On measures to accelerate the reform of enterprises with the State participation and the privatization of state assets” dated October 28, 2020 (the “Decree No.УП-6096”), the following lists were approved
ADB approved USD 200 million loan to improve power sector in Uzbekistan
On 28 September the Asian Development Bank (ADB) approved a USD 200 million policy-based loan to Uzbekistan. The loan will be used for strengthening Uzbekistan’s power sector by improving its financial sustainability and ensuring adequate investment in critical infrastructure. This policy-based loan became the first of its kind in Uzbekistan’s energy sector.
The list of offshore zones has been updated in Uzbekistan
In accordance with the additions to Regulation “On the procedure for monitoring the validity of the conduct of foreign exchange transactions by legal entities and individuals” (Appendix to the Resolution No.2467 dated June 12, 2013) (the “Regulation”), the changes were made.
Amendments and additions have been made to the Clearing System of Central Bank of Uzbekistan
By the Resolution of the Board of the Central Bank No. 2570-1 dated September 28, 2020, the following adjustments were made.
The World Bank maintains a positive outlook for the economy of Uzbekistan
On October 7 this year, the World Bank published a new regional economic review. According to this review, Uzbekistan will be one of only two countries in the Europe and Central Asia region that will demonstrate economic growth in 2020.
Fitch maintains Uzbekistan's credit rating at BB-
The international rating agency Fitch Ratings (the “Agency”) has released a regular report on the sovereign credit rating of Uzbekistan. According to the report, Uzbekistan's sovereign credit rating remained unchanged at BB- (stable).
A new edition of the Law of the Republic of Uzbekistan “On public procurement” has been drafted
The Ministry of Finance of Uzbekistan, together with specialists from relevant ministries and departments, has developed a new edition of the Law of the Republic of Uzbekistan “On public procurement” (“Draft law”). Asian Development Bank and the World Bank also took an active part in the development of the Draft law.
29.09.2020
The team of GRATA International was ranked among the best firms in Kazakhstan and placed in the highest tiers - "outstanding" and "recommended".
GRATA International law firm took part in the International Legal Banking Forum
On September 24-25, 2020, the Forum on theme: "Topical issues of law in the banking sector" was held.