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:
Industrial clusters will appear in every region of Uzbekistan
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.
Regulation on the application of the Convention on Temporary Admission has been approved
The State Customs Committee has approved the Regulation “On the application of the Convention on Temporary Admission (Istanbul, 26 June 1990)”. The Regulation defines the procedure for the convention on temporary import in customs control and customs clearance of goods on the customs border of Uzbekistan.
The President has signed a number of regulatory acts on Sanitary and Epidemiology Services
On 25 July of this year, the Resolution of the President of the Republic of Uzbekistan “On measures of organization of the activity of the Service of Sanitary and Epidemiological well-being and public health of the Republic of Uzbekistan” No.ПП-4790 (the “Resolution No.ПП-4790”) and the Decree of the President of the Republic of Uzbekistan “On measures of mitigating the coronavirus pandemic, fundamental development of the system of sanitary and epidemiological well-being and protection of health of the population” No.УП-6035 (the “Decree No.УП-6035”) were adopted. These legal acts focus on further improvement of the activity of the Sanitary and Epidemiology Service (the “SES”).
A Presidential Decree on improving the efficiency of justice has been signed
On July 24, the President signed a Decree “On additional measures of further improvement of the functioning of courts and increase of the efficiency of justice” No.УП-6034 (“Decree No.УП-6034”).
Preferences for green energy producers
According to the Presidential Decree “On additional measures to reduce the dependence of economic sectors on fuel and energy products by increasing the energy efficiency of the economy and using available resources” No.ПП-4779 dated 10 July, 2020, it was established that from 1 August, the tariff for guaranteed electricity purchase of newly introduced solar, wind, and biogas power plants, micro and small hydroelectric power plants with a capacity of up to 1 MW, is set at the second group of consumers. At the moment, it is UZS 450 for 1 kW per hour, including VAT.