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Fitch assigns Uzbekistan first long-term issuer rating
Fitch Ratings assigned Uzbekistan a long-term issuer default rating in local and foreign currency at BB-, the rating outlook is “stable", Trend reports on Dec. 21 referring to the agency’s press service.
Promotion of tourism in Uzbekistan
With aim to develop a tourism industry, including accelerating the implementation of investment projects for the construction of modern hotels and similar accommodation facilities, attracting foreign direct investment in the development of the hotel industry in the country, the President of the Republic of Uzbekistan has enacted two specific bylaws – the Decree of the President of the Republic of Uzbekistan No. UP-5611 “On Additional Measures for Accelerated Development of the Tourism Industry” (the “Decree No. UP-5611”) and the Resolution of the President of the Republic of Uzbekistan No. PP-4095 (the “Resolution No. PP-4095”) were issued on 5 January 2019.
Draft Regulation on Free Economic Zones Published
A draft Regulation was published on, according to which the activity of free economic zones will be regulated.
Uzbekistan establishes FEZ “Andijon-Farm”
President of Uzbekistan Shavkat Mirziyoyev signed a decree on creation of a free economic zone “Andijon-farm”.
Navoi Mining and Metallurgical Combine to be reorganised
Navoi Mining and Metallurgical Combine (the "NGMK") will be reorganized into a joint stock company and will cease to be a state enterprise.
The direction of economic development are defied until 2021
The decree of the President of Uzbekistan "On additional measures to ensure the further development of the economy and improve the efficiency of economic policy" approved the "Road map" of the main directions of structural reforms of the Republic of Uzbekistan for the period of 2019-2021, developed with the participation of the World Bank and other international financial institutions