Uzbekistan offers state support to large investors

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This follows from the Resolution of the Cabinet of Ministers, “On approval of the state compensation for the creation of external infrastructure investment projects of foreign and local investors,” adopted on June 7 this year (Resolution).

The Resolution defines the procedure for providing foreign and local investors with the necessary external engineering and communication networks for investment projects worth over UZS 200 billion (approx. US$18.5 million), except for two regions — Karakalpakstan and Khorezm. In these regions, the state will allocate funds for the provision of infrastructure for projects exceeding UZS 50 billion.

A special commission under the Ministry of Economic Development and Poverty Reduction will assess the feasibility of allocating budgetary funds to provide investment projects with infrastructure.

In addition to the requirements to have an investment project assessed, the applicant must meet the following requirements:

  • The project should be included into the government’s investment program.
  • The share of the investor’s own funds in the project must be not less than 25 percent.
  • At the time of applying, the project should be at least 50 percent implemented.

The application procedure, requirements for project assessment and financing of investment projects is established by an implementing regulation to the Resolution.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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