30.10.2020
On 29 October 2020, an international online conference was held on: Recognition and Enforcement of Judgements and Arbitral Awards in 10 jurisdictions of GRATA International on ZOOM platform.
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.
22.10.2020
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).
SCADA and EMS systems will be implemented in Uzbekistan
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.
The special commission will be engaged in the development of exports and attraction of investments in Uzbekistan
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.
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).
22.10.2020
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.