Some of the most notable legal developments in Uzbekistan in January 2023 were the adoption of a Law bringing changes to the legislation on corporate governance in business entities, measures to support the textile industry, and measures to empower the Chamber of Commerce and Industry.
А Law introducing amendments to the corporate legislation has been adopted. The Law will come into force on 20 April 2023 and will, among others, provide for the following:
The President has signed a Decree on the reform and support of the textile industry. The Decree aims to increase the volume of production and export of finished textile products by 2.1 times and by 2.6 times respectively over the next 5 years and, among others, provides for the following measures:
The President has signed a Resolution empowering the Chamber of Commerce and Industry of Uzbekistan (a state-supported association of all country’s business entities, whose main aim is to promote their interests). It is, among others, provided in the Resolution that:
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Kosta Legal Law Firm