The Concept of Development of the Water Economy of the Republic of Uzbekistan for 2020-2030 was approved
In the course of reforms aimed at the efficient and conscious use of land and water resources, on 10 July 2020, the President of the Republic of Uzbekistan approved the Concept for the Development of the Water Economy for 2020–2030 (the “Concept”).
The system of pre-trial settlement of disputes will be improved in Uzbekistan
In order to enhance the tools for alternative dispute resolution, improve the dialogue between state bodies and the population and protect their rights, the President of the Republic of Uzbekistan signed a Resolution “On measures to improve further mechanisms for alternative dispute resolution” No.ПП-4754 dated 17 June 2020 (the “Resolution No.ПП-4754”).
The State Tax Committee adopted the Regulation on the procedure for conducting on-site tax audits
The Tax Committee approved the Regulation on the procedure for conducting an on-site tax audit (hereinafter referred to as the "Regulation") within the framework of Article 139 of the Tax Code by the Resolution "On approval of the Regulation on the procedure for conducting an on-site tax audit" No. 3247 dated 18 June 2020.
Road map for reducing the share of shadow economy is adopted
On 20 June 2020, there was adopted a Resolution of the Cabinet of Ministers of the Republic of Uzbekistan "On measures for reducing the share of the" shadow economy "in the Republic of Uzbekistan" No.394, according to which the "Road map" was approved.
The National Strategy for improvement of mechanisms on human rights and freedoms is defined
The President of the Republic of Uzbekistan signed the Decree "On approval of the Republic of Uzbekistan's National strategy on human rights" No.УП-6012 from 22 June 2020 (the “Decree No.УП-6012”) that envisages the adoption of a long-term strategy for the protection of human rights and freedoms.
Investment Company JSC "UzAssets" is formed by the Decree of the Cabinet of Ministers
The Cabinet of Ministers adopted the Resolution “On additional measures to improve the privatization processes” No.381 dated 15 June 2020 (the “Resolution No.381”) to implement investment projects using advanced foreign experience. Within this framework, the Decree No.381 established an investment company JSC "UzAssets”, the founder of which is the State Assets Management Agency.
Asian Development Bank projects slowdown in economic growth of Uzbekistan in 2020
Asian Development Bank (the “ADB”) has reconsidered its economic growth projections for Uzbekistan in 2020 by decreasing the projection from 4,7% to 1,5%. ADB has adjusted and updated the economic growth forecasts due to the pandemic, which has decreased the volume of foreign trade and money transfers. Forecasts of the World Bank and European Bank for Reconstruction and Development regarding Uzbekistan's economic growth for 2020 coincide, amounting to a GDP growth of 1,5%.
Uzbekistan ranked 87th in the United Nations e-Government Development Index
According to the UN e-Government Development Index (the “EGD Index”), Uzbekistan ranked 87th among 193 UN member countries. Compared with the previous year's EGD Index, Uzbekistan's position has been lowered by 6 points. However, Uzbekistan still holds 2nd position in EGD Index among the Central Asian countries.
Uzbekistan is included in the rating of the Competitive Industrial Performance Index for the first time
For the first time, Uzbekistan has been included in the rating of the Competitive Industrial Performance Index (the “CIP Index”) calculated by the United Nations Industrial Development Organization. CIP Index ranks and evaluates the country's ability to produce and export manufacturing goods at a competitive level. Uzbekistan ranked 92nd out of 152 countries listed in CIP Index.
Uzbekistan plans to issue Eurobonds worth USD 500 million
Uzbekistan plans to issue Eurobonds in national currency equivalent to USD 500 million in the domestic market. Based on the budget requirements, Eurobonds denominated in UZ equivalent to USD 500 million, can be placed this year and the same amount next year.