of December 24, 1998 No. 719-I
About investing activities
The purpose of this Law is regulation of the relations in the field of investing activities.
The legislation on investing activities consists of this Law and other acts of the legislation.
If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about investing activities then are applied rules of the international treaty.
In this Law the following basic concepts are applied:
investments - the material and non-material benefits and the rights to them, including the intellectual property rights, and also the reinvestments put in objects entrepreneurial and other types of activity which are not prohibited by the legislation;
the investor - the subject of investing activities performing investment of own means and attraction of other investment resources into objects of investing activities;
the investment obligation - obligation of the investor assumed by it for achievement of the particular purposes provided by the investment project;
investing activities - the set of actions of subjects of investing activities connected with implementation of investments;
the participant of investing activities - the subject of investing activities providing execution of orders of the investor;
reinvestments - any investment income put in objects entrepreneurial and other types of activity which are not prohibited by the legislation including profit, percent, dividends, royalty, license and commission fees, payments for technical assistance, maintenance and other forms of remunerations.
Investments on subject to appointment are subdivided on capital, innovative and social.
The investments put in creation and reproduction of fixed assets including into new construction, upgrade, reconstruction, modernization, and also into development of other forms of production of goods belong to capital investments.
The investments put in development and development of new or advanced goods (works, services), production process, new marketing method or organizational method under the authority of business activity belong to innovative investments.
The investments put in human development, skills and know-how and also into development of other forms of the non-material benefits belong to social investments.
Forms of implementation of investments are:
creation of legal entities or equity in their authorized funds (authorized capital), including property acquisition and shares;
acquisition of securities, including the debt obligations emitted by residents of the Republic of Uzbekistan;
acquisition of concessions, including concessions on investigation, development, production or use of natural resources;
acquisition of property right according to the legislation, including the property right to intellectual property items, and also to objects of trade and services industry, together with the parcels of land on which they are placed;
acquisition of right of ownership and use of the earth (including on the basis of lease) and other natural resources.
Investments can be performed also in other forms which are not contradicting the legislation.
Change of forms in which originally or repeatedly investments invest does not lead to change of their qualification as investments.
The investment project - complex of the interconnected actions or the separate action directed to implementation or investment attraction for receipt of economic, social and other benefits.
The investment project includes:
development of the specification on designing;
determination of the designer of the investment project;
development of the preproject and project documentation;
determination of technology, the equipment and methods of implementation of works for the purpose of implementation of the investment project;
determination of financing sources;
determination of participants of investing activities;
conducting examination and approval of the preproject and project documentation of participants of investing activities and other stipulated by the legislation bodies, including assessment of pecuniary, economic, social and ecological benefits of the investment project;
decision making about implementation of the investment project;
determination of the supplier of the equipment and the choice of contract organization in accordance with the terms, provided in the preproject and project documentation, and also with requirements, stipulated by the legislation;
accomplishment of undertaken obligations and the reached agreements from investing party and participants of investing activities according to the investment project, including financing implementation, delivery, installation and commissioning of the equipment, accomplishment of construction and installation works, distribution of benefits from implementation of the investment project;
implementation of monitoring of the course of implementation of the investment project from investing party and participants of investing activities and other bodies, stipulated by the legislation.
Need and the sequence of implementation of the actions specified in part two of this Article is determined by subjects of investing activities in the procedure established by the legislation.
Treat investment resources:
cash and other financial resources, including the credits, shares, shares and other securities;
personal and real estate (buildings, constructions, equipment and other material values) and rights to them;
intellectual property items, including set of the technical, technology, commercial and other knowledge constituted in the form of the technical documentation, skills and know-how necessary for the organization of this or that type of production, know-how;
rights of possession and uses of the earth and other natural resources, buildings, constructions, the equipment, and also other corporeal rights following from the property right.
Other values according to the legislation also can be carried to investment resources.
Objects of investing activities are objects entrepreneurial and other types of activity which are not prohibited by the legislation.
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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The document ceased to be valid since January 27, 2020 according to article 66 of the Law of the Republic of Uzbekistan of December 25, 2019 No. ZRU-598