Note on the Law of the Republic of Uzbekistan “On Investments and Investment Activities”
On December 25, 2019, the Law of the Republic of Uzbekistan No. ZRU – 598 “On Investments and Investment Activities” (the “Law”) was adopted, which has entered into force on January 27, 2020. The Law covers all basic principles envisaged at all stages of investments and investment activities in relation to both domestic and foreign investors.
Regulation Of The Pharmaceutical Industry In Uzbekistan
Currently, the pharmaceutical industry in Uzbekistan is experiencing a modification of regulatory requirements. In recent years, the country has achieved positive results in the formation and development of the primary health care system for population.
Amendments and additions to the Tax Code of the Republic of Uzbekistan
In the light of the adoption of the Law “On introduction of amendments and additions to the Tax Code of the Republic of Uzbekistan” No. ZRU-599 dated 30 December, 2019, a new edition of the Tax Code was adopted.
State aid in the sector of renewable energy resources in Uzbekistan
Renewable energy resources (“RER”) are defined under Uzbek law as solar and wind power, geothermal and hydro power, as well as biomass energy.
PPP law initial focus of new Uzbek agency
With Uzbekistan announcing that it is establishing a coordinating agency to facilitate planning and implementation of PPPs, the new agency’s focus in its first year will likely be on helping to draft and shepherd passage of a PPP law through the country's Supreme Assembly, according to a legal adviser in Tashkent.
Amendments to the Constitution were provided within the framework of the reform of the judicial system of Uzbekistan. The Supreme Economic Court and the Supreme Court are united into a single supreme judiciary body in the sphere of civil, criminal, administrative and economic legal proceedings - the Supreme Court of the Republic of Uzbekistan.
Uzbek government intensifies restructuring of the state apparatus by adding modern-thinking specialists to the management, alongside with radical improvements in legislation, directed to full-scale liberalisation, increasing trade turnover and development of local industry, attracting foreign investors, full transfer to market economy and overcoming such obstacles as corruption, restrictions for payment on current international transactions, tariff and non-tariff barriers.
Amendments to foreign currency exchange regulations in Uzbekistan
Resolution of the Cabinet of Ministers as of June 30, 2017 No. 449 introduced the market rate of foreign exchange for certain transactions in the over-the-counter foreign exchange market.