Uzbekistan will become the second country where Turkey will be engaged in mineral exploration; Registration of real estate and obtaining information about it is being simplified in Uzbekistan; The association “Uzeltehsanoat” is being created; The draft State Program for 2019 is open for discussion; The management of the free economic zone “Namangan” has been created; A draft of the Free Economic Zone Regulations has been published.
Uzbekistan will become the second country where Turkey will be engaged in mineral exploration
Turkey is going to sign a final agreement on the exploration of metal deposits in Uzbekistan, Daily Sabah reports with reference to the Deputy Minister of Energy and Natural Resources of the country Mithat Kanziz.
Uzbekistan will become the second country after Sudan, where Turkey will be engaged in mineral exploration, Kanziz said. This will be done by a subsidiary of the General Directorate of Mineral Research and Exploration (MTA):
“We are going to sign a final agreement with Uzbekistan. It will include a plot of 700 km and two licenses,” he explained.
Registration of real estate and obtaining information about it is being simplified in Uzbekistan
The Government of Uzbekistan approved the Regulation on the state registration of property rights in new edition. In comparison with the previous version, the act has undergone the following changes:
- uniform rules for state registration of rights to real estate objects are defined for individuals and legal entities
- legal entities and individuals are granted free access to information from the State Register of Real Estate Rights. The State Register is the official source of information on the registered rights to real estate, the reliability of which is guaranteed by the state. It will be available on the Internet for universal access.
- information and communication data exchange between authorized bodies is being implemented to create favorable conditions for legal entities and individuals to register their rights to real estate objects.
- a pre-trial dispute resolution mechanism is introduced. For this purpose, special commissions are created at the State Committee for Land Statistics and the territorial subdivisions.
The association “Uzeltehsanoat” is being created
In Uzbekistan, the Association of Enterprises of the Electrotechnical Industry of Uzbekistan will be created on the basis of the JSC “Uzeltehsanoat”.
Property and other funds belonging to the state, as well as receivables and payables, will be transferred to the new association, with the exception of real estate and blocks of shares in the authorized capital of business entities owned by JSC “Uzeltehsanoat”.
Until January 1, 2022, enterprises that are part of the Uzeltehsanoat Association are granted a delay of value-added tax for a period of 120 days when importing components, raw materials and materials for their own main and auxiliary production, as well as construction materials imported under implemented investment projects.
The draft State Program for 2019 is open for discussion
Discussion of the state program will last until January 15. The state program will be implemented in five main areas:
- In the field of improving state and public construction
- In the area of ensuring the rule of law and further reforming the judicial system
- In the field of economic development and attracting active investment:
- the introduction of a modern system of national payments, with its full implementation from January 1, 2020;
- development of a new version of the Tax Code by September 1, 2019;
- reforming and accelerating the development of the insurance market: developing a new version of the Law “On Insurance Activity”, granting banks the status of insurance agent;
- measures for the privatization of land occupied by buildings and structures of citizens and legal entities;
- development of a national concept for the digital economy;
- gradual abolition of tax and customs benefits;
- ratification of the Rome Declaration on World Food Security, as well as the Cartagena Protocol on Biosafety;
- developing an investment policy strategy; creating “investment hubs” in the country;
- revision of the Law on Concessions;
- speeding up the process of Uzbekistan’s accession to the World Trade Organization, etc.
- In the sphere of social development
- In the field of security, interethnic harmony and religious tolerance
The management of the free economic zone “Namangan” has been created
On August 20, 2018, the Free Economic Zone Namangan was established by the Decree of the President of the Republic of Uzbekistan.
In accordance with the document, in January 2019, the Government adopted a resolution on the creation of the state unitary enterprise of the FEZ “Namangan”.
The main tasks of the created unitary enterprise are:
- Attracting foreign and domestic investors to implement investment projects on the territory of the FEZ;
- The organization of all permits required to connect to the engineering and communication infrastructure, on the principle of “single window”;
- The implementation of systematic control over the proper performance of obligations by selected investors in accordance with the established procedure.
A draft of the Free Economic Zone Regulations has been published
The draft was prepared in pursuance of the Presidential Decree “On measures to further improve the system of coordination and management of free economic zones” dated December 21, 2018 and will be included in the annex to the Resolution of the Cabinet of Ministers.
The project consists of 4 sections. Besides, the Regulations have been amended and supplemented with some acts of the Cabinet of Ministers of the Republic of Uzbekistan.
The document will determine the timing and mechanism for registering new enterprises, including the structures that are responsible for regulating these issues.