In October 2021, some of the most notable legal developments in Uzbekistan were changes in the legislation on geological exploration and the use of subsoils, additional measures to support the import of goods not produced in Uzbekistan, measures to support exporters, and the adoption of the Presidential Resolution on digitalizing insurance services. It was also provided in Presidential Resolution No. PP-5268 that the government would assist businesses with mitigation of their foreign currency exchange risks by, among others, requesting local banks to convert some of the loans they extended to businesses in a foreign currency into loans in the national currency.
The President has signed a Resolution providing for the setting of a zero-rate customs duty on the import of 82 categories of raw materials, including asbestos, coloring matter of a plant or animal origin, textile paints, ready-made adhesives, artificial fur, cotton and linen fabrics, fabrics made of synthetic and artificial multifilament yarns.
The President has signed a Resolution on measures for reducing foreign currency exchange risks of Uzbek businesses and assisting them with the performance of loan obligations in a foreign currency. The Resolution, among others, provides for the following:
The State Assets Management Agency and the Ministry of Finance have approved a Sample Regulation for Conducting the Pre-Qualification Procedure in Public Procurement. Both corporate purchasers (i.e. generally, state-owned enterprises and their affiliates) and budget purchasers (i.e. state agencies and establishments) may use the Regulation. The pre-qualification procedure established in this Regulation shall apply where such procurement methods as a selection of the best offer or a tender are used. Where a potential supplier passes the pre-qualification procedure, he may participate in relevant procurement procedures for up to 1 year.
The Presidential Resolution “On the Measures for Digitalizing the Insurance Market and Developing the Sphere of Life Insurance” has been adopted. Some of the measures provided by the Resolution include the following:
Have a good day!
Kosta Legal Law Firm