News

Based on the Presidential Decree No.UP-5614 of January 8, 2020, as well as Presidential Resolutions No.PP-4422 dated August 22, 2019, No.PP-4477 dated October 4, 2020 and No.PP-4779 dated July 10, 2019, there has been envisaged the introduction of the mechanism for the implementation of investment projects on the terms of public-private partnership (PPP) in the field of electricity generation based on renewable energy sources (RES).

In accordance with the Presidential Resolution No.PP-4699 “On measures for the widespread introduction of the digital economy and e-government” dated April 28, 2020, a project for the implementation of dispatch control and data collection (SCADA) and energy management (EMS) systems are envisaged.

According to the Presidential Decree No.UP-6042 “On additional measures of further development of the export and investment potential of the Republic” dated August 18, 2020 (the “Decree No.UP-6042”), the appointment of the Deputy Prime Minister for Investments and Foreign Economic Relations as the Chairman of the Governmental Commission was envisaged.

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.

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).

Delegates of the UN General Assembly elected 15 new members of the UN Human Rights Council (the “Council”) on October 13. According to the voting results, Uzbekistan, Russia and Ukraine became members of the Council. The newly elected members of this body will begin their work on January 1, 2021.