President of Uzbekistan Shavkat Mirziyoyev spoke at the III Tashkent International Investment Forum, welcoming participants and addressing investors, urging them to cooperate with Uzbekistan.
"Our main goal is for Uzbekistan to become a reliable and long-term partner for foreign investors," emphasized the head of state. "Our government guarantees the development of market relations, reliable protection of investors' rights, improvement of a favorable investment and business environment, creation of broader opportunities and conditions for fair competition, ensuring the inviolability of private property, and the independence of the judicial system."
Shavkat Mirziyoyev noted that these principles are enshrined in the updated Constitution adopted last year in a referendum.
The President of Uzbekistan presented a series of country proposals aimed at strengthening the protection of investors' rights.
"We will adopt the 'Investment Law' in a new edition. The document is developed in accordance with the provisions, rules, and standards of the World Trade Organization," stated Shavkat Mirziyoyev, expressing gratitude to the European Bank for Reconstruction and Development, World Bank, International Monetary Fund, and Organization for Economic Cooperation and Development for their cooperation in this work.
Additionally, the president announced that soon the International Commercial Court will start operating in Uzbekistan under the International Center for Digital Technologies.
"It will occupy a special place in Uzbekistan's judicial system. For this purpose, we will adopt a special law in the near future. We will also introduce provisions into procedural codes aimed at the full implementation of the decisions of the International Commercial Court," announced Shavkat Mirziyoyev.
The President of Uzbekistan also mentioned plans to introduce "completely new approaches to the system of industrial zones."
"In order to implement high-tech projects by investors, even more favorable conditions will be created for them. The practice of actively attracting private operators, including experienced foreign companies, will be expanded in the management of industrial zones. Restrictions on the duration of activity in special economic zones will also be lifted," said Shavkat Mirziyoyev.
The lease term of land to foreign investors in Uzbekistan will be extended by two times - from 25 years to 49 years. "At the same time, the guaranteed benefits and preferences provided by the laws will be fully preserved," emphasized the president.
All these issues will also be discussed on May 3 at the next meeting of the Foreign Investors Council under the president.
