of April 30, 2020 No. 264
About introduction of amendments to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 2, 2005 No. 180 "About measures for implementation of the Presidential decree of the Republic of Uzbekistan "About additional measures for stimulation of attraction of direct private foreign investments""
In pursuance of the resolution of the President of the Republic of Uzbekistan of January 28, 2019 "About the organization of activities of the Ministry of investments and foreign trade of the Republic of Uzbekistan" the Cabinet of Ministers decides No. PP-4135:
1. Make changes to the resolution of the Cabinet of Ministers of August 2, 2005 No. 180 "About measures for implementation of the Presidential decree of the Republic of Uzbekistan "About additional measures for stimulation of attraction of direct private foreign investments"" according to appendix.
2. Recommend to National broadcasting company of Uzbekistan, to provide to National news agency of Uzbekistan together with the Ministry of investments and foreign trade of the Republic of Uzbekistan, the Ministry of Justice, Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and the city of Tashkent extended coverage in mass media and carrying out explanatory work among investors about procedure for the conclusion and implementation of investment agreements.
3. To the ministries and departments to bring the regulatory legal acts adopted by them into accord with this resolution in a month.
4. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan concerning investments and foreign economic relations - the minister of investments and foreign trade S. U. Umurzakov.
Prime Minister of the Republic of Uzbekistan
A. Aripov
to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of April 30, 2020 No. 264
The changes made to the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 2, 2005 No. 180 "About measures for implementation of the Presidential decree of the Republic of Uzbekistan "About additional measures for stimulation of attraction of direct private foreign investments""
1. State Items 1 and 2 in the following edition:
"1. Approve:
Regulations on the notification procedure on application of guarantee, the stipulated in Clause 19 Laws of the Republic of Uzbekistan "About investments and investing activities", according to appendix No. 1;
Regulations on procedure for the conclusion, change, termination and implementation of investment contracts between the Government of the Republic of Uzbekistan and foreign investors according to appendix No. 2.
2. Determine that by provision to the foreign investor by the Government of the Republic of Uzbekistan additional to the established legislation of guarantees and measures of support (privileges and preferences) signs the investment contract between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments and foreign trade of the Republic of Uzbekistan and the foreign investor, with the subsequent approval of the agreement by the President of the Republic of Uzbekistan or the Cabinet of Ministers of the Republic of Uzbekistan".
2. To state the text of appendix No. 1 in the following edition:
"Regulations on the notification procedure on application of guarantee, stipulated in Clause 19 Laws of the Republic of Uzbekistan "On investments and investing activities"
1. This Provision determines the notification procedure about application of the guarantee provided to foreign investors and their investments by article 19 of the Law of the Republic of Uzbekistan "About investments and investing activities".
2. If the subsequent legislation of the Republic of Uzbekistan worsens investment conditions, the foreign investor notifies the relevant authorized body on application of guarantee.
Authorized bodies which are notified on application by the foreign investor of guarantee are the state organizations performing state registration of legal entities, the Ministry of Foreign Affairs, the Ministry of Internal Affairs, the Ministry of investments and foreign trade of the Republic of Uzbekistan, the State Tax Committee of the Republic of Uzbekistan and servicing banks.
3. The notification on application of guarantee goes (is transferred) in writing in:
the servicing bank - in case of introduction of the additional requirements complicating the procedure of repatriation or reducing the size of the income (profit) of the foreign investor translated abroad, except as specified, stipulated by the legislation;
the relevant state organizations performing state registration of legal entities - in case of introduction of quantitative restrictions on amounts of implementation of investment and other additional requirements by the amount of investments, including in the form of increase in the minimum size of foreign investments in the companies with foreign investments, restrictions on equity of the foreign investor in authorized capitals of the companies of the republic, and also other additional requirements on implementation of foreign investments;
The Ministry of Foreign Affairs and (or) the Ministry of Internal Affairs of the Republic of Uzbekistan - in case of introduction of supplementary procedures of registration and prolongation of visas of foreign investors;
The ministry of investments and foreign trade of the Republic of Uzbekistan - in the presence of the investment agreement providing to the foreign investor additional to the established legislation of guarantee and measure of support - on those conditions of investment which are specified in the investment agreement.
The notification can be directed by the investor after adoption of the act of the legislation worsening investment conditions at any time. In the notification circumstances which the foreign investor considers deterioration in conditions of investment, and the act of the legislation existing for date of investment which provisions he intends to apply during guarantee effective period are specified.
4. The notification of the foreign investor is the basis for application by authorized body concerning the foreign investor of the legislation existing for date of investment. The notification, irrespective of date of the direction it in authorized body, is effective from coming into force of the act of the legislation worsening investment conditions.
In case of disagreement with the notification of the foreign investor the authorized body can address to the Ministry of Justice of the Republic of Uzbekistan behind the legal conclusion about legitimacy of application by the foreign investor of article 19 of the Law "About Investments and Investing Activities".
5. The Ministry of Justice of the Republic of Uzbekistan in two weeks from the moment of receipt of the address sends the motivated conclusion to the relevant authorized body.
The authorized body can take a legal action with the claim for illegality of application of guarantee by the foreign investor.
In case of availability of the legal conclusion of the Ministry of Justice of the Republic of Uzbekistan about illegality of application by the foreign investor of guarantee, the authorized body can take a legal action with the corresponding claim, without payment of the state fee.
6. Disagreement of authorized body with the notification of the foreign investor, its appeal to the Ministry of Justice of the Republic of Uzbekistan behind the legal conclusion and in court with the claim for illegality of application of guarantee by the foreign investor are not the bases for suspension of application concerning the foreign investor of guarantee.
7. Action of this provision does not extend to acceptance, amendment or cancellation of acts of the legislation which are directly connected with ensuring protection of the interests of homeland security of the Republic of Uzbekistan determined according to legal acts and international treaties of the Republic of Uzbekistan".
3. To state the text of appendix No. 2 in the following edition:
"Regulations on procedure for the conclusion, change, termination and implementation of investment contracts between Government of the Republic of Uzbekistan and foreign investors
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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