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The investment policy of the Republic of Uzbekistan

During the years of independence in Uzbekistan created a favorable investment climate, an extensive system of legal guarantees and privileges for foreign investors, developed integral system of measures to stimulate the activities of enterprises with foreign investments.

Investment legislation of the Republic of Uzbekistan is one of the most advanced in the legislative system of the CIS countries, having incorporated the basic provisions of international investment law, in particular the provisions guaranteeing the rights of foreign investors, providing certain preferences for investors and others.

The basis of the legal regulation in the sphere of attracting foreign investments in the Republic of Uzbekistan are:

· The Law "On Foreign Investments";

· The law "On investment activity";

· The Law "On guarantees and measures to protect the rights of foreign investors"

As well as the number of legal acts adopted in the form of decisions of the President of the Republic of Uzbekistan and resolutions of the government.

In accordance with current legislation the concept of foreign direct investment includes:

· Foreign investments of tangible and intangible benefits and the rights to them, including intellectual property rights;

· Any income from foreign investments made by foreign investors in objects of entrepreneurial and other activities.

Foreign investment in the territory of the Republic of Uzbekistan can be carried out and various forms. In particular:

· Share in authorized funds and other property of economic societies and companies, banks, insurance companies and other enterprises established jointly with legal entities and (or) natural persons of the Republic of Uzbekistan;

· Creation and development of economic societies and companies, banks, insurance companies and other enterprises, fully owned by foreign investors;

· The acquisition of property, shares and other securities, including debt securities issued by residents of the Republic of Uzbekistan;

· Investment of intellectual property rights, including copyrights, patents, trademarks, utility models, industrial designs, trade names, know-how and goodwill (goodwill);

· Purchase of concessions, including concessions for the exploration, development, production or use of natural resources;

· Acquisition of the right of ownership of trade and services, on premises, together with the land on which they are placed, atakzhe ownership and use of land (including by lease) and natural resources.

In Uzbekistan, there are no restrictions on the form of investment. Foreign investors may establish in the country in any businesses permitted by law, the legal form.

To date, potential foreign investors are offered a variety of forms of investment:

· Creation of a joint venture;

· Creation of the enterprise so100 percent foreign capital;

· Acquisition of part or all of the shares of the privatized enterprises.

Enterprises with foreign investment are newly created enterprises that fulfill the following conditions:

· Size of the share capital of the company not less than the amount equivalent to US 150tys.dollarov;

· One of the participants of the enterprise is a foreign entity;

· The share of foreign investment is at least 30 percent of the authorized capital of the enterprise.

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