On 24 November 2020, an international online investment conference “Uzbekistan Investor Day” was held, organized by the Capital Market Development Agency together with the international investment bank Wood & Co.
The Ministry of Finance of the Republic of Uzbekistan prepared a draft Law of the Republic of Uzbekistan “On amendments and additions to some legislative acts of the Republic of Uzbekistan in connection with the adoption of the main directions of tax policy for 2021”.
Today, the Central Bank hosted a seminar on combating corruption and the shadow economy, as well as its prevention, with the participation of representatives of the General Prosecutor’s Office and the Anti-Corruption Agency, employees of the Central Bank and commercial banks.
The Ministry of Finance of Uzbekistan will allocate 1 trillion soums, attracted through the placement of Eurobonds, to three banks for the development of family entrepreneurship.
Fitch Ratings has assigned Ipoteka-Bank’s US$300 million 5.5% debut Eurobond placement due in 2025 a final rating of ‘BB-’. The bank is using the proceeds mainly for extending foreign-currency facilities to local borrowers in Uzbekistan.
Promsvyazbank provided one of the world’s largest gold producers to the Navoi Mining and Metallurgical Plant (NGMK) with a revolving credit line in the amount of US$200 million to finance the company’s investment projects. This was reported by the press service of PJSC Promsvyazbank (PSB).
In order to create wide opportunities for legal entities and individual entrepreneurs, in February this year, the Central Bank launched an Instant Payments System, which allows payments to be made online around the clock.
The State Tax Committee of Uzbekistan (STC) has launched a system for registering electronic contracts. This was reported by the press service of the committee.
On 19 November 2020, the XVII meeting of the Coordinating Council on Accounting of the Member States of the Commonwealth of Independent States (CIS) was held. In connection with the situation continuing in the world due to the coronavirus pandemic, this meeting was held in the format of a video conference.
VEB.RF, in a consortium with Russian partner banks, is ready to work out financing of the second stage of the program to increase hydrocarbon production being implemented in Uzbekistan. The total volume of loans planned for attraction is estimated at US$650 million, according to the corporation’s website.