Uzbekistan is a promising and secure country for investment

15 Aug 2018

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The Decree of the President of the Republic of Uzbekistan of August 1, 2018 "On Measures to Improve the Investment Environment in the Republic of Uzbekistan" was an important step towards the investor activity and the necessary easing for their free functioning .

... Seyfi Gasemi, the Executive Director, President and Chairman of the Board of Directors of Air Products, USA, has made a decision to invest in our country with a radical change in our government. He noted that Uzbekistan, China, Saudi Arabia and Russia are the safest countries for promising and foreign investors.

Air Products has conducted an independent audit to identify promising countries in the world, involving the Macro-Advisory consulting firm. According to him, the wide-ranging reforms being implemented in our country, in particular, support and guarantees entrepreneurship, protection of investors, entrepreneurs, financial and judicial reforms, and most importantly, As a result of these efforts, Uzbekistan was recognized as one of the most promising countries in the region not only in the region, but also throughout the world.

Of course, every investor will study the environment in Mr. Harper as if he could invest in any country. The law, the conditions created and the results are very important.

In this sense, the Presidential decree has created a number of guarantees and privileges that are in line with the investor's demand and desire. For example, the share of foreign investment in the charter capital of enterprises with foreign investments decreased from 30 to 15 per cent and the minimum authorized capital of enterprises with foreign investments decreased from 600 million to 400 million soums. Foreigners and stateless persons were granted a three-year multi-year visa. The state duty for state registration of enterprises with foreign investments was reduced to three times.

Also from October 1, 2010 a new mechanism for allocating land parcels for investment activities is introduced. According to him, entrepreneurs will be given land for up to 50 years. And most importantly, there is a new order for local governments in dealing with investors. Suppose the investor and business entity operate on the basis of the administrative document adopted by the public authority or official, but if the higher authority considers this decision illegal, in this case, the entrepreneur has the opportunity to fully compensate the damage.

"The most important task of today is to support entrepreneurs in the country, in particular, investors, and to create opportunities for them," said Otajon Pirmanov, employee of the State Committee for Investments. - The State Committee for Investments is the authorized state body responsible for coordinating the formation and implementation of a single public investment policy and attracting foreign investments. Our Committee works in partnership with other government agencies, local authorities and other organizations, including international organizations, international financial institutions and foreign investors. Today, investment offers from domestic and foreign investors are being studied. A weekly meeting of the week is held every Thursday to address the current investment challenges. Investors are able to deal with their plans and problems.

The majority of enterprises and enterprises in the structure of O'zquriilishmateriallari, which is the national economic management body of Uzbekistan's construction materials industry, are also closely linked to foreign investment. It is important to put into operation new capacities and attract investment funds for the production of new construction materials.

In particular, it is planned to produce 3,000 tonnes of basalt fiber armature a year in Farish district at the Uzbek-British Joint Venture "Mega Invest Sanoin" with a US $ 15.3 million foreign investment. At the first stage of the project, US $ 10.5 million was used for foreign investment and 900 tons of basalt fiber reinforced-concrete products were set up, and 90 new jobs were created.

Not surprisingly, nowadays, the demand for building materials in our country is increasing day by day, products of such joint ventures are in the domestic and foreign markets. Therefore, the new power is an important factor not only in the growth of the product range, but also in the creation of new jobs.

In the Jizzakh Free Economic Zone, Mingyuan Silu Industry, a joint venture, plans to utilize about $ 110 million in production of 24 million square meters of glass products annually, of which 56.1 million dollars is foreign direct investment.

It is noteworthy that the company is unique in Uzbekistan, not only in Central Asia. This opportunity will be a good result in expanding the business and setting up exports. The production of decorative glassware is planned to be exported to Kazakhstan, Afghanistan, Tajikistan, and Kyrgyzstan.

The main source of investment flows to the sectors of our economy is the fact that the existing opportunities in our country, the conditions created for foreign investors, adequate notification of relief and priorities.

Nasiba Ziyodullayeva, UzA.

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