News

In accordance with the Decree of the President of the Republic of Uzbekistan “On additional measures to ensure price stability in consumer markets and increase the effectiveness of antimonopoly measures”

The Cabinet of Ministers adopted the Resolution “On approval of the Regulation on the procedure for state reimbursement of costs for the creation of external infrastructure for investment projects of foreign and local investors” No. 306 dated June 7, 2022 (the “Resolution No. 306”).

On June 7, 2022, the President of the Republic of Uzbekistan signed the Law “On Advertising” No. ЗРУ-776 (the “Law on Advertising”).

On May 16, 2022, the President of the Republic of Uzbekistan signed the Law “On amendments and additions to certain legislative acts of the Republic of Uzbekistan in connection with the adoption of the Law “On International Commercial Arbitration”” No. ЗРУ-769 (the “Law No. ЗРУ-769”).

The Law of the Republic of Uzbekistan “On Cybersecurity” No. ЗРУ-764 dated April 15, 2022 (the “Cybersecurity Law”) will enter into force on July 17, 2022. The Cybersecurity Law consists of 40 articles and is intended to regulate relations in the field of cybersecurity.

Decree of the President of the Republic of Uzbekistan “On additional measures to simplify the application of the customs regime “processing on the customs territory”” No. УП-115 dated April 25, 2022 (the “Decree No. УП-115”) introduced a procedure, in accordance with which from May 1, 2022

On April 20, 2021, the President signed the Law of the Republic of Uzbekistan “On non-banking credit organizations and microfinance activities” No.ЗРУ-765 (the “Law No.ЗРУ-765”). The purpose of Law No.ЗРУ-765 is to regulate relations in the field of activities of non-banking credit organizations and microfinance activities.

Resolution of the President “On additional measures to introduce effective mechanisms to support the capital market” No.ПП-90 dated January 17, 2022 (the “Resolution No.ПП-90”) establishes that from April 1, 2022 to December 31, 2024

The Cabinet of Ministers of the Republic of Uzbekistan approved the Regulation on the procedure for determining the customs value of goods imported into the customs territory of the Republic of Uzbekistan by Resolution No.160 dated April 6, 2022 (the “Regulation”). Resolution No.160 was adopted in accordance with Decree of the President “On measures to further improve the activities of justice bodies and institutions in the implementation of state legal policy” No.УП-5997 dated May 19, 2020.

In Uzbekistan, on April 13, 2022, a new law “On insolvency” No. ZRU-763 dated April 12, 2022 (the “Law on insolvency”) came into force. The Law on insolvency regulates the insolvency of legal entities and individuals, as well as individual entrepreneurs, but does not apply to government agencies and other non-profit organizations.