VEB.RF provides financing to Kamaz Asia Leasing in Uzbekistan
State development corporation VEB.RF and leasing company JV LLC Kamaz Asia Leasing have signed a loan agreement for EUR 12,5 million. The agreement provides for financing the purchase of 250 units of vehicle and special equipment of the KAMAZ brand in the Republic of Uzbekistan. The equipment will then be leased to Uzbek companies.
The Rules for conducting foreign exchange transactions have been approved in the Republic of Uzbekistan
The Resolution of Board of the Central Bank as registered with the Ministry of Justice under No.3281 dated 31 August 2020 approved the Rules for conducting foreign exchange transactions in the Republic of Uzbekistan (the “Rules”). These Rules entered into force on 1 September 2020.
The Special Republican Commission has adopted a resolution to gradually easy the quarantine measures.
A number of licenses and permits are being cancelled by the Decree of the President of the Republic of Uzbekistan
On 24 August, the Decree of the President of the Republic of Uzbekistan “On measures to fundamentally improve the licensing and permitting procedures” (the “Decree”) has been adopted.
Excise tax on imported vehicles and recycling fee
According to the Presidential Decree “On measures to further streamline foreign economic activity and stimulate the development of the domestic market for motor vehicles” dated 3 June 2020, No.ПП-4739, from 1 August 2020, the current excise tax rates on the following types of imported vehicles are canceled:
On 12 August of this year a video conference was held under the chairmanship of the President of Uzbekistan dedicated to the development of industries in regions and the expansion of production of competitive products. During the meeting, the President instructed to create industrial clusters in each region, including scientific, innovative, design, financial, engineering and investment organizations.