Starting from March, 1st Uzbekistan will significantly simplify business registration and doing business; Huaxin Cement will build a new cement plant in Jizzakh region; A new hotel will build in the center of Tashkent; State stock in the alcohol industry to be put for sale; Russia plans to create textile clusters in cooperation with Uzbek business;
Starting from March, 1st Uzbekistan will significantly simplify business registration and doing business
In Uzbekistan starting from March, 1st 2019, a new order will come into force, within the framework of which business registration and doing business will be simplified significantly.
In particular, for state registration of business entities – banks can now remotely open bank accounts for legal entities whose founders are residents of the Republic of Uzbekistan and individual entrepreneurs in the process of their state registration if the necessary conditions exist for remote identification of applicants in accordance with the requirements of the Group on the development of financial measures to combat money laundering of money.
In addition, simplifications were introduced in other areas, including in the protection of minority shareholders, obtaining building permits, connection to the power supply system, property registration, enforcement of contracts and others.
The Chinese company Huaxin Cement founded FE Huaxin Cement Jizzakh LLC for realization of a project worth $ 150 million. The Chinese company will allocate $ 78 million to purchase equipment.
The capacity of the new cement plant will be 1.2 million tons of cement per year. In particular, the plant will produce up to 480 thousand tons of M400 cement and 720 thousand tons of Portland cement M500 cement. It is expected that the plant will start to operate in December 2019. At the first stage, it is planned to export about 120 thousand tons of cement.
The government of Uzbekistan has provided a number of tax benefits to Huaxin Cement Jizzakh within the framework of the project.
A new hotel will build on the site of the Uzbekenergo in the center of Tashkent on the Amir Timur Square.
“In accordance with the proposals of the Cabinet of Ministers, JSC Uzbekneftegaz and JSC Uzbekenergo, a modern hotel complex will be constructed on the land plot where the administrative building of JSC Uzbekenergo is now located. Foreign investors will be attracted to the project,” the document says.
The administrative building in question is located on Istiklol Street, right opposite the Tashkent State University of Law.
“Uzsharobsanoat” will be liquidated and state shares in the company will be put up for sale. The state will keep only the functions of the regulator.
As a result, the Viticulture and Wine Development Agency under the Ministry of Agriculture and the Alcohol and Tobacco Market Regulatory Inspectorate under the Ministry of Finance are being established.
By the October, 1st investment requirements for the sale of alcohol, distillery and wine products will be prepared.
Until the end of 2019, official resources will also be put up for sale in the authorized capital of the agro firm, wholesale bases and other Uzsharobsanoat organizations according to the list (to be presented later).
In order to further develop cooperation in the textile, garment and knitwear industries, the parties will implement it in the following main areas and forms: the development of the creation in the Russian Federation of finishing, garment and knitwear industries and (or) clusters with the participation of Uzbek enterprises.
In addition, it is planned to work out the issue of creating cotton-textile clusters in Uzbekistan with the attraction of Russian investments. As expected, they will ensure the supply of products to Russia at competitive prices.
In accordance with the agreement, the parties will also stimulate the creation of joint ventures that expand textile, clothing and knitwear production in the Russian Federation and Uzbekistan, and promote the creation of trading houses in the territories of both countries.