Shavkat Mirziyoyev met with heads of leading companies and banks of German; Frontera Capital announced its desire to strengthen the banking market of Uzbekistan; During 2018 the state sold 842 assets to private owners; Turkey will provide a project proposal for the production of agricultural equipment; Procedure for licensing crypto-exchange in Uzbekistan has been approved
Shavkat Mirziyoyev met with heads of leading companies and banks of German
The Head of state met with representatives of German business circles and invited them to participate in the work of the Expert Council under the President.
To establish a direct dialogue with foreign investors an Expert Council under the President of Uzbekistan was founded for consulting and expert support of state reforms, developing proposals on topical issues, including development of the investment climate of the country. Moreover, the Head of state invited the participants of the business forum to actively participate in the work of the Council.
The meeting discussed the development of partnerships between financial organizations, firms and companies of Uzbekistan and Germany, the expansion of investment and technological cooperation, as well as training of qualified personnel.
Frontera Capital announced its desire to strengthen the banking market of Uzbekistan
Frontera Capital wants to gain a foothold in the banking market of Uzbekistan, follows from the press service of the Ministry of Foreign Affairs. On January 22, the Ambassador of Uzbekistan in Benelux states Dilier Khakimov met with the head and owner of Frontera Capital Vincente Ponz.
Frontera Capital is an investment company that focuses on emerging markets with its head office in the United Arab Emirates, and representative offices in London, Amsterdam and other financial centers of the world.Earlier, the investment company signed an agreement with Sanoat Qurilish Bank, which will allow attracting at least $ 50 million in the near future using investment and credit instruments.
It is reported that Vincente Ponzo showed interest in banking and financial potential of Uzbekistan in terms of investments. In this regard, the company’s management will arrive in Tashkent at the end of January. During the visit, company delegation will have meetings and negotiations with government, as well as with the heads of a number of commercial and private banks of Uzbekistan.
During 2018 the state sold 842 assets to private owners
In 2018 the government sold 842 assets to the private sector for a total amount of 113 billion UZS, according to the report of the State Competition Committee.
Almost half (498) was sold at “zero” cost, but under investment liabilities in the amount of 670 billion UZS, $ 187 million and the creation of 15.5 thousand new work places. In total, investors have committed themselves in the amount of 814 billion UZS and $ 792 thousand, the creation of 18.4 thousand new work places.
Nevertheless, there are still enough state-owned enterprises and institutions in the country – 21.8 thousand.
Turkey will provide a project proposal for the production of agricultural equipment
The Turkish company FSM Traktor intends to start production of agricultural machinery in Uzbekistan, reports the press service of the State Committee of Investments of the Republic.
This was stated by Chairman of the Board of FSM Traktor Erdogan Oren during the meeting at the State Investment Committee. The parties discussed the participation of the Turkish company in the implementation of joint investment projects in the agricultural machinery industry.
According to the investor, at the early stages of the project, it is planned to organize a large-unit assembly of tractors with a capacity of 75 h/p to 150 h/p with consequent localization in future.
Procedure for licensing crypto-exchange in Uzbekistan has been approved
The procedure for licensing crypto-exchange in Uzbekistan has been approved by the order of the Director of the National Agency of Project Management
Only foreign companies can open crypto-exchange through its subsidiaries or other legal entities in Uzbekistan. They must meet specific requirements:
- availability of authorized capital in the amount of not less than 30 000 MMW;
- the presence of a functioning electronic system of crypto-exchange trading, which are located on servers within the country;
- the existence of crypto-stock exchange trading rules (procedure for admission to trading, the amount of payment, registration of transactions, etc.);
- storage of information on operations, identification data, business correspondence for 5 years;
- and other.
The license is issued for an indefinite period. In case of violation of the rules and requirements, its action may be suspended or even canceled.