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The control and monitoring system for the implementation of investment projects is started in Uzbekistan
The Regulation of organization the implementation and operation of the Automated Information System “Control and Monitoring the Implementation of Investment Projects” was approved in accordance with the Resolution of the Cabinet of Ministers dated July 22, 2019 No. 616 “On organizational measures for the implementation and operation of the information system in the field of monitoring and monitoring the implementation of investment projects”.
Regulatory developments in the legislation of the Republic of Uzbekistan
Since July 1, 2019, changes came into force that will affect customs regulation, licensing, public procurement, investor relations, corruption risk assessment and many different sectors.
The Central Bank keeps the refinancing rate at 16% per annum
By decision from 20 July 2019, the Board of the Central Bank kept the refinancing rate unchanged at 16% per annum.
Nurlan Kyshtobaev took part in the signing of agreements between EBRD and Optima Bank
On 21 May 2019, the European Bank for Reconstruction and Development and Optima Bank signed risk participation agreements in the aggregate amount up to USD 20 million. According to these agreements, EBRD will share the risks of up to 50 percent for some loans issued by Optima Bank. Borrowers under the agreements will also have the opportunity to use various technical cooperation programs to familiarise themselves with the best practices of international and local experts.
All projects involving foreign direct investment would be divided into four lists
The head of state proposed to introduce a new system of control to ensure timely realization of investments. In accordance with it, all projects involving foreign direct investment would be divided into four lists to be monitored separately.
Shaimerden Chikanayev spoke at China Global Investment Summit 2019
China Global Investment Summit 2019 (China Global Investment Summit 2019) was held on April 18-19, 2019 in Shanghai, China. One of the speakers was Shaimerden Chikanayev, Partner, Director of Banking & Finance Department, GRATA International.
Amendments have been introduced to regulations and legislative acts of KR on investment funds activity
On April 1, 2019, the President of the Kyrgyz Republic Sooronbay Jeenbekov signed the Law of the Kyrgyz Republic “On Amendments to Certain Legislative Acts on the Issues of Investment Funds Activities”.
Uzbekistan announced US$1bn bond issue
The Ministry of Finance of the Republic of Uzbekistan successfully priced its inaugural US$1 billion which was formed by a dual US$500mm 4.750% tranche due February 2024 and a US$500mm 5.375% due February 2029.
GRATA International in China Business Law Journal: Deals of the Year 2018
We are glad to announce that one of GRATA International’s successful projects has been selected as of the winners of China Business Law Journal: Deals of the Year 2018.