The next meeting of the Foreign Investors Council has begun in Uzbekistan

The next meeting of the Foreign Investors Council has begun in Uzbekistan

The next meeting of the Foreign Investors Council has begun under the chairmanship of Shavkat Mirziyoyev.
At the beginning of the meeting, the Head of State expressed gratitude to the President of the European Bank for Reconstruction and Development, Adil Reno-Basso, for his support for the reforms being implemented in Uzbekistan and for his effective chairmanship of the council.
 
It was noted that in recent years, the Foreign Investors Council has transformed from a consultation forum into a platform for practical reforms, serving as a reliable bridge between New Uzbekistan and the international investment community. Today, the council has the status of an independent association and has risen to the level of a strong institution.
 
The President noted that specific decisions were made on 21 initiatives put forward at the previous meeting, and noted that the proposals of investors are being reflected in state policy. It is noted that the Tax Code has been amended to make it more favorable for investors, internal debt transactions between companies have been exempted from financial control, and accelerated depreciation of fixed assets has been created. A number of mandatory requirements for foreign companies reporting on international standards have also been abolished.

In addition, a draft law “On Alternative Investment Funds” has been developed, a program has been prepared to introduce responsible business standards and bring 16 technical regulations into line with international standards. The meeting also paid special attention to the issues of creating equal and fair conditions for foreign investors, further improving the investment climate, and expanding international obligations.