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The Agency for the Development of Small Business and Entrepreneurship under the Ministry of Economy and Industry is established
According to the Decree of the President of the Republic of Uzbekistan No. UP-5780 dated August 13, 2019 “On additional measures to strengthen the protection of private property and guarantees of property rights, radically improve the organization of work to support entrepreneurial initiatives, as well as expand access of business entities to financial resources and production infrastructure”, the Agency for the Development of Small Business and Entrepreneurship under the Ministry of Economy and Industry was established.
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.
Common system for long-term saving
On 1 January 2019 (subject to some provisions that will become effective later), the Act on Employee Capital Plans of 4 October 2018 are coming into force.
New rules for registering transactions
On 13 October, 2018, the regulation of the Minister of Finance on the provision of information on so-called above-threshold transactions to the General Inspector of Financial Information came into force.
Change of the rules for submitting financial statements by companies
As of 1 October, 2018, the rules for submitting company financial statements have changed. First, the reports must be in electronic form and, secondly, they must be signed by an authorized person.
Gulnur Nurkeyeva attended Investment and Financing Innovation Law & Commerce Forum
On 11-14 October 2018 Elite Global Legal Alliance (EGLA) held its Fourteenth General Meeting & Investment and Financing Innovation Law & Commerce Forum
Uzbekistan and Belarus sign contracts worth US$231 million
President of Belarus Alexander Lukashenko paid an official visit to Uzbekistan on 12-13 September 2018.
Government adopted the bill to increase investor protection on the polish financial market
On September 4, the government submitted to the parliament a bill strengthening the position of the Polish Financial Supervisory Authority (Polish financial regulator) and increasing investor protection.