Uzbekistan ranked 93rd among 131 countries in the Global Innovation Index
In the newly published Global Innovation Index (the “GII”) for 2020, Uzbekistan ranked 93rd. Thus, the country returned to the rating after five years of absence from it due to unavailability of data.
The Central Bank of Uzbekistan cuts the base rate to 14% per annum
The Chairman of the Central Bank of the Republic of Uzbekistan stated in a press conference that this decision was taken in order to reduce the inflation rate in the economy and to support economic activity during the pandemic.
25.09.2020
On September 17, following the decision of the Special Republican Commission, Uzbekistan Airports announced the procedure for passengers to enter Uzbekistan by air.
25.09.2020
On 1 September, the Special Republican Commission decided to ease quarantine measures starting from 5 September.
The Cabinet of Ministers approved the strategy for improving the public finance management system of the Republic of Uzbekistan for 2020-2024
This document was adopted in accordance with the Resolution of the President “On measures to ensure the implementation of the Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2020””.
VEB.RF provides financing to Kamaz Asia Leasing in Uzbekistan
State development corporation VEB.RF and leasing company JV LLC Kamaz Asia Leasing have signed a loan agreement for EUR 12,5 million. The agreement provides for financing the purchase of 250 units of vehicle and special equipment of the KAMAZ brand in the Republic of Uzbekistan. The equipment will then be leased to Uzbek companies.
The Rules for conducting foreign exchange transactions have been approved in the Republic of Uzbekistan
The Resolution of Board of the Central Bank as registered with the Ministry of Justice under No.3281 dated 31 August 2020 approved the Rules for conducting foreign exchange transactions in the Republic of Uzbekistan (the “Rules”). These Rules entered into force on 1 September 2020.
27.08.2020
The Special Republican Commission has adopted a resolution to gradually easy the quarantine measures.
A number of licenses and permits are being cancelled by the Decree of the President of the Republic of Uzbekistan
On 24 August, the Decree of the President of the Republic of Uzbekistan “On measures to fundamentally improve the licensing and permitting procedures” (the “Decree”) has been adopted.
Excise tax on imported vehicles and recycling fee
According to the Presidential Decree “On measures to further streamline foreign economic activity and stimulate the development of the domestic market for motor vehicles” dated 3 June 2020, No.ПП-4739, from 1 August 2020, the current excise tax rates on the following types of imported vehicles are canceled: