September 22, 2018

State Development Program of Uzbekistan replaces Investment Program

The Law of the Republic of Uzbekistan dated July, 27, 2018 No ЗРУ-488 “On Introduction of Changes and Amendments to the Certain Legislative Acts of the Republic of Uzbekistan in Connection with Adoption of Additional Measures on Providing of Intensive Development of the Economy” has entered amendments to the Civil Code, Tax Code, Budget Code, Customs Code and Economic Procedure Code of Uzbekistan as well as to Uzbekistani Laws “On Investment Activity” and “On Mandatory Insurance of the Civil Liability of Carrier“.

According to the foregoing Law, the earlier applied “Investment Program” was replaced by the “State Program of Development of the Republic of Uzbekistan”. The procedures of development, approval, shaping and state examination of the State Program of Development are now referred to the competence of the President of Uzbekistan. Formerly these procedures were performed by the Cabinet of Ministers.