The Senate Committee on Budget and Economic Issues held preliminary discussions on several laws aimed at further improving the country’s investment climate, supporting entrepreneurship, ensuring legality in the construction sector, and promoting sustainable economic development, the press service of the Senate reports.
The senators first reviewed the Law “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan.”
It was noted that the Law is intended to introduce a special tax regime for foreign nationals, attract high-income investors and qualified professionals to the country, further improve the investment climate, and promote the training of skilled personnel for various sectors of the economy.
The Law also provides for additional tax incentives to support the dual education system. Senators emphasized that the Law is important for enhancing the country’s investment attractiveness.
The Committee then discussed the Law “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Aimed at Strengthening Guarantees of the Freedom of Entrepreneurial Activity and Improving Mechanisms for Supporting Business Entities.”
The Law establishes the fundamental principles of entrepreneurial activity at the legislative level, expands the legal framework for state support of entrepreneurs, and introduces additional guarantees to ensure the inviolability of private property.
It also provides for the creation of a register of mandatory requirements in the field of entrepreneurship and introduces legal regulation of the institutions of responsible business conduct and social entrepreneurship. The Law is expected to further improve the business environment and increase the country’s investment attractiveness.
The Committee also considered the Law “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Aimed at Preventing Illegal Occupancy of Unfinished Multi-Apartment Residential Buildings.”
This Law is intended to prevent the occupancy of apartment buildings that have not been officially commissioned, strengthen legality in the construction sector, and ensure reliable protection of human life and health.
The Law increases the liability of developers and contractors and establishes direct criminal liability for such violations. According to the senators, it will serve as an important legal safeguard for ensuring safety and protecting citizens’ rights in the construction sector.
Following the discussions, the Committee adopted the relevant decision.
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