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FDI: Entry and ownership rule
On 15 February 2016 entered into force Decree No. 33 of the Cabinet of Ministers of Uzbekistan. It approved a liberalising measure concerning foreign investments.
Concretely, the measure approves a list of joint stock companies:
Decree No. 33 states that law-makers' goal with this state initiative is to attract more foreign investors into joint stock companies, to create favorable conditions for their active participation in corporate governance, modernisation, the technical and technological re-equipment of production, the organisation of production of high-quality, competitive products and their promotion on foreign markets, as well as to considerably reduce the state presence in the economy by reducing government assets and shares in the authorised capital of joint stock companies.
The attraction of foreign investors as a state priority is also emphasised in article 5 of Decree No. 33. It requests state bodies, as well as the companies listed in Appendix 1 and 2, to introduce measures for attraction of foreign investors. Broad media coverage in Internet, in the Uzbek media and abroad, containing information on the offered for purchase assets, preferences and rebates is also requested in the legal act.
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