President Shavkat Mirziyoyev made opening remarks at the III Tashkent International Investment Forum. He welcomed the participants and appealed to investors, encouraging them to cooperate with Uzbekistan.
“Uzbekistan’s main goal is to become a reliable and long-term partner for foreign investors,” the head of state emphasized. “Our state guarantees the development of market relations, reliable protection of the rights of investors, improvement of a favorable investment and business environment, facilitate fair competition, ensuring the inviolability of private property and the independence of the judicial system.”
Shavkat Mirziyoyev underscored that these principles were enshrined in the new Constitution, adopted last year in the referendum.
The President of Uzbekistan presented a number of country proposals aimed at strengthening the protection of investor rights.
“We will adopt the Investment Law in a new edition. The document was drafted in accordance with the provisions, rules and standards of the World Trade Organization,” said Shavkat Mirziyoyev, expressing gratitude to the European Bank for Reconstruction and Development, the World Bank, the International Monetary Fund, and the Organization for Economic Cooperation and Development for their cooperation in this work.
In addition, the president said, the International Commercial Court will soon begin activities in Uzbekistan at the International Center for Digital Technologies.
“It will occupy a special place in Uzbekistan’s judicial and legal system. We will soon adopt a special law to this end. We will also introduce provisions into the procedural codes aimed at the full implementation of the decisions of the International Commercial Court,” announced Shavkat Mirziyoyev.
He also announced plans to introduce “completely new approaches to the system of industrial zones.”
“In order for investors to implement high-tech projects, even more favorable conditions will be created for them. In the management of industrial zones, the practice of actively attracting private operators, including experienced foreign companies, will be expanded. Restrictions on the period of activity of special economic zones will also be abolished,” said Shavkat Mirziyoyev.
The period for leasing land plots to foreign investors in Uzbekistan will be doubled - from 25 years to 49 years. “While, existing benefits and preferences guaranteed by law will be fully preserved,” the president emphasized.
All these issues will also be discussed on May 3 at the next meeting of the Council of Foreign Investors under the President.
