1. What is the “Foreign Investors Council"
The Foreign Investors Council under the President of the Republic of Uzbekistan (hereinafter - the Council) is an advisory and advisory body under the President of the Republic of Uzbekistan.
The Council carries out its activities in accordance with the Constitution of the Republic of Uzbekistan, laws of the Republic of Uzbekistan, decrees of the chambers of the Oliy Majlis of the Republic of Uzbekistan, decrees, decrees and orders of the President of the Republic of Uzbekistan, decrees and orders of the Cabinet of Ministers of the Republic of Uzbekistan, other legislative acts of the Republic of Uzbekistan.
The Council is an institutional platform for direct dialogue between the Government of the Republic of Uzbekistan and representatives of investors, including foreign companies, banks, investment and other structures, international financial institutions operating in the Republic of Uzbekistan, coordinated by the Ministry of investment, industry and trade with the assistance of the European Bank for Reconstruction and development.
2. Goals, tasks and functions of the Council
The purpose of the Council is the further development of a favorable, non-discriminatory, transparent and constructive business environment in Uzbekistan, which helps to attract investment, primarily foreign, through an open and constructive dialogue between government bodies of the Republic of Uzbekistan and representatives of international financial institutions, foreign companies, banks, investment and other structures operating in the Republic of Uzbekistan.
The main tasks of the Council are:
- effective identification of key obstacles to attracting investment and the work of investors, including foreign ones, and ensuring a favorable business environment and investment climate in the Republic of Uzbekistan;
- development of solutions to eliminate these obstacles through the joint efforts of state bodies of the Republic of Uzbekistan and representatives of foreign companies, banks and investment structures, as well as international financial institutions operating in the Republic of Uzbekistan.
The functions of the Council are:
- facilitating a constructive dialogue between state bodies and the private sector regarding the necessary steps to address the most pressing issues of economic and private sector development, improve the business environment and stimulate investment, especially foreign ones;
- identifying the main barriers to attracting investments, primarily foreign ones, in various sectors of the economy, and developing measures to improve the business environment and investment climate, and further integrating the economy of the Republic of Uzbekistan into global value chains, as well as developing and proposing appropriate amendments to the legislation Republic of Uzbekistan;
- development of recommendations, including in the form of draft relevant regulatory legal acts with the application of auxiliary assessment reports for consideration by the Government and other state bodies of the Republic of Uzbekistan;
- facilitating the exchange of experience and best practices in the field of reform and bringing state regulation with other countries to ensure the achievement of the goals of the Council.
participation in the development of a strategy for coordinating and prioritizing the investment policy of the Republic, as well as attracting foreign investment in the country's economy.
Foreign Investors Council Web-site:https://investorscouncil.uz/