EC grants Uzbekistan the status of a beneficiary of the GSP +
On 30 November 2020, the European Commission took an early positive decision on the application of the Republic of Uzbekistan to obtain the status of a beneficiary of the Generalized System of Preferences plus (the “GSP +”).
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.
The Ministry of Economic Development of the Russian Federation plans to grant a residence permit to foreign citizens who are investing in Russian business. This bill is aimed at simplifying the stay of investors in the country.
On November 30, 2020, at a meeting of the Government of the Russian Federation, it was decided to extend the moratorium on scheduled inspections in relation to small businesses. The document was published on the website of the Government of the Russian Federation.
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”).
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.
New responsible person for RES of the Ministry of Energy of the Republic of Uzbekistan has been appointed
Abdullajon Otaboev has been appointed Head of the Department for Development of Generation Based on Renewable Energy Sources of the Ministry of Energy.
Financial support to exporters has been expanded in Uzbekistan
The President of the Republic of Uzbekistan on October 21 signed a new Decree “On further expansion of financial support for export activities” No.УП-6091 (the “Decree No.УП-6091”).
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.
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.