Жаңалықтар

The President of the Republic of Uzbekistan signed a Decree “On improving the position of Uzbekistan in international ratings and indices” No.УП-6003 dated 2 June 2020 (the “Decree No.УП-6003”). A Republican Council, which will function in this direction, is being established.

Affirmation of ratings by Fitch Ratings (the “Agency”) reflects a combination of a “weaker level” assessment of the city’s risk profile and an “AA” debt resistance rating according to the rating scenario. The Agency also notes that the city’s issuer default ratings are one step lower than the independent “BB” credit rating due to poor reporting practices and transparency that lags behind international standards.

On 12 May 2020 President of the Republic signed the Decree “On Strategy of reforming the banking sector of the Republic of Uzbekistan for 2020-2025 years” No.УП-5992 (the “Decree No.УП-5992”). The Decree No.УП-5992 established Strategy and the “Roadmap” of reforming the banking sector, as well as the main principles and directions of transformation of this sphere.

International rating Agency "S&P Global Ratings" (the “Agency”) has published a regular report on the sovereign credit rating of the Republic of Uzbekistan. According to the report, the rating of Uzbekistan is "BB-".

On May 27, 2020, there has been adopted a Resolution of the President “On measures to regulate the process of shared construction of apartment buildings” No.4732 (the “Resolution No.4732”), which will regulate the usage of proceeds accumulated from equity holders and the construction of buildings on the basis of shared construction.

For the purposes of further improving legal conditions to attract investments to the Republic of Uzbekistan and implementing investment projects, a draft Law “On Limited Partnership” (the “Draft Law”) was prepared and published for public discussion.

The President of Uzbekistan signed a Resolution “On measures to accelerate the construction of multistorey block of flats in the regions” No.ПП-4718 dated 19 May 2020 (“Resolution No.ПП-4718”) aimed at immediate elimination of the consequences of emergency incidents that occurred in the Bukhara and Sirdaryo regions, as well as accelerated urbanization in all regions of the Republic.

The President of the Republic of Uzbekistan signed a Decree “On urgent measures to support the tourism sector for reducing the negative impact of the coronavirus pandemic” No.УП-6002 dated 28 May 2020, which is aimed at providing various types of incentives such as reducing tax rates, providing subsidies for participants of the tourism sector.

On May 18, President of Uzbekistan signed a Decree «On subsequent measures to support the population and entrepreneurs during the coronavirus pandemic» No.УП-5996 (the “Decree No.УП-5996”) aimed at supporting the population and reducing negative consequences of the pandemic on citizens as well as entrepreneurships.

Cabinet of Ministers of the Republic of Uzbekistan has adopted Resolution “On measures of organizing activities of the Free Economic Zone “Chiroqchi”” No.267 dated May 6, 2020 (“Resolution No.267”), which establishes the boundaries of the territory of the “Chiroqchi” FEZ, approved the structure of its management, its charter and sources of financing its activities.