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PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of April 10, 2012 No. UP-4434

About additional measures for stimulation of attraction of direct foreign investments

(as amended on 30-04-2021)

Note that for years of independence in Uzbekistan the favorable investment climate is created, the broad system of privileges, preferences and guarantees on protection of the rights and interests of foreign investors is legislatively installed.

As a result in the republic it is created and successfully is effective over 4,2 thousand companies with foreign investments in the leading industries and spheres of economy. Annually more 3,0 of one billion foreign investments, mainly straight lines to which share it falls over 26,6 of percent of total amount of investment into national economy that is the specific certificate of the growing interest and trust of foreign investors to stability and reliability of economy of the republic, perspectives of its development accustoms.

At the same time the continuing world financial and economic crisis, toughening of the competition in the world and regional investment markets require acceptance of additional measures for creation of more favorable investment climate in the country, to stimulation of attraction of foreign investments for projects implementation on upgrade, technical and technology updating of productions, and also liquidation of the bureaucratic barriers and obstacles taking place in work with foreign investors, to non-admission of illegal intervention from the state and monitoring bodies in activities of the companies with foreign investments.

For the purpose of creation of the most favorable investment climate for the foreign investors performing direct attachments in development of high technology productions, strengthenings of stimulation of attraction of foreign investments and modern technologies to regions of the republic, further strengthening of system of guarantees and privileges for foreign investors and the companies with foreign investments:

1. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 19.06.2020 No. UP-6011

2.

2. Determine that tax benefits in the form of exemption of the land tax, the property tax and tax for use of water resources depending on amount of the brought direct private foreign investments for the term determined by the decision of the President of the Republic of Uzbekistan are provided to legal entities.

The company with participation of direct private foreign investments has the right to use other tax benefits provided by the tax legislation.

3. Establish procedure according to which within investment projects worth over 50 million US dollars and shares of the foreign investor at least 50 percent the construction necessary external, outside the production site, engineering and communication networks is performed at the expense of budgetary funds and other internal financing sources.

4. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 19.06.2020 No. UP-6011

5. Strictly forbid and consider illegal establishment by the ministries, departments, state bodies on places, law enforcement and monitoring bodies, commercial banks of the additional requirements and restrictions connected with activities of foreign investors and the companies with foreign investments.

To the Prosecutor General's Office of the Republic of Uzbekistan to establish tough control of unconditional observance of the public and economic board of the current legislation by all bodies for protection of the rights and guarantees of foreign investors, the companies with foreign investments and to take effective measures on prevention of violation of the established legislation and accountability of guilty officials.

6. Grant the right to State commission on holding tenders in case of sale of state-owned property to foreign investors (Azimov R. S.) to implement according to requests of foreign investors for creation of the companies with foreign investments the low-liquid objects which are on balance of public authorities on places on "zero" redemption value, without carrying out tender by the conclusion of direct agreements with the investor under specific investment obligations.

7. To the Ministry of Foreign Affairs, the Ministry of Internal Affairs of the Republic of Uzbekistan to provide registration to the officials and specialists of the foreign companies participating in implementation of investment projects, entrance and multi-visas for a period of 12 months according to requests of the ministries, departments, economic associations.

8. To the Cabinet of Ministers with involvement of the Ministry of Economic Development and reducing poverty, the Ministry of Finance, Ministry of investments and foreign trade, the State committee according to the statistics, the Central bank of the Republic of Uzbekistan to provide on system basis broad access in accordance with the established procedure for foreign investors to the economic information necessary for realization of investing activities by them, including data on the Government budget and its execution, monetary policy, indicators of foreign trade and others.

9. To the Ministry of Justice together with the Ministry of Economic Development and reducing poverty, the Ministry of investments and foreign trade to establish system monitoring of realization in practice of the legislation on the provided guarantees, privileges and preferences for foreign investors and the companies with foreign investments and to quarterly enter in the Cabinet of Ministers information regarding non-compliance by the ministries, departments and other contractors of the provided privileges and preferences.

10. Make changes and additions to the Presidential decree of the Republic of Uzbekistan of April 11, 2005 No. UP-3594 "About Additional Measures for Stimulation of Attraction of Direct Private Foreign Investments" according to appendix No. 2.

To the Ministry of Economics, the Ministry of Foreign Economic Relations, Investments and Trades together with the Ministry of Justice of the Republic of Uzbekistan and other interested ministries and departments to make in the Cabinet of Ministers offers on the changes and amendments in the legislation following from this Decree in a month.

11. To impose control of execution of this Decree on the Prime Minister of the Republic of Uzbekistan Mirziyoev Sh. M.

President of the Republic of Uzbekistan

Islam Karimov

Appendix № 1

to the Presidential decree of the Republic of Uzbekistan of April 10, 2012 No. UP-4434

No. UP-6011 voided according to the Presidential decree of the Republic of Uzbekistan of 19.06.2020

Appendix № 2

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