Amendments to the legislation of Uzbekistan
On December 2, 2020 the President of the Republic of Uzbekistan has approved the Law “On amendments to certain legislative acts of the Republic of Uzbekistan in connection with the adoption of measures to mitigate the negative impact on economic sectors of the coronavirus pandemic and global crisis phenomena”.
New incentives for value added tax (VAT) and customs duties in Uzbekistan
To support the import of new technological equipment that is not produced in Uzbekistan, Article 6 of Article 246 of the Tax Code of the Republic of Uzbekistan provided for the exemption of such equipment from VAT.
11.12.2020
On 8-10 December 2020, the firm arranged the online conference 'Labour Law Issues: Practical cases' for Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russia, Tajikistan and Uzbekistan. The conference was held through ZOOM platform both in Russian and English.
Market rules will be introduced and the “Code of electric networks” will be developed in the energy sector of Uzbekistan
On October 23, representatives of the Ministry of Energy held a round-table discussion with a number of international financial institutions on further reform of the energy sector in Uzbekistan.
USD 457.8 million will be invested into the Uzbekistan’s electric power complex
The Cabinet of Ministers of the Republic of Uzbekistan approved the electric power investment project “Introduction of an automated system for accounting and control of electricity in the Republic of Uzbekistan” worth USD 457.8 million. The Resolution on this matter was adopted on October 30, 2020.
In Uzbekistan there has been determined a new Investor of the project on renewable energy sources
On October 31, the Cabinet of Ministers adopted Resolution No.ПКМ-667 “On additional measures for the implementation of the investment project “Construction of a 100 MW photovoltaic power plant in Navoi region”” (the “Resolution No.ПКМ-667”).
UzAuto Motors is planning to issue Eurobonds for USD 300 million
According to the information published on the Unified Portal of Corporate Information, UzAuto Motors is planning to issue Eurobonds in the amount of USD 300 million in 2021 with a maturity of 5-7 years. It is noted that UzAuto Motors will place Eurobonds on the London stock exchange.
A thermal power plant with a capacity of 1500 MW is being built in the Sirdaryа region of Uzbekistan
On the basis of the Presidential Resolution No.4799 “On measures to organize the construction of a new thermal power plant with a capacity of 1500 MW in the Sirdarya region” dated August 10, 2020, it was envisaged to build a thermal power plant on a turnkey basis in the Boevut district and in the city of Shirin of the Sirdarya region.
A new small industrial zone has been created in the Tashkent region
The Resolution of the Cabinet of Ministers No.ПКМ-657 “On measures to create a small industrial zone in the Yangiyul district of the Tashkent region” (the “Resolution No.ПКМ-657”) provides for the opening of a small industrial zone with an area of 36 hectares.
The activities of enterprises with a state share will be transparent
In accordance with the Resolution of the Cabinet of Ministers No.674 “On measures to improve the system of disclosure of information on business entities with state participation and state unitary enterprises” dated October 30, 2020 the following proposals of the Agency for State Assets Management, the Ministry of Information Technologies and Development of Communications as well as the Ministry of Economic Development and Poverty Reduction were approved.