UZBEKISTAN – JANUARY 1-31, 2020 Top News of the period ..................................................................................................................................................................... 2 Uzbekistan to host first Tashkent International Investment Forum 2 National mining pool to be created in Uzbekistan 2 First crypto exchange launched in Uzbekistan 3 Politics and Law ..................................................................................................................................................................................... 3 Senate of Belgium ready to expand inter-parliamentary cooperation with Uzbekistan 3 Shavkat Mirziyoyev signs decree creating Tashkent Pharma Park 4 Uzbekistan to introduce a system of reference pricing for medicines 4 Rules for issuing electronic money approved in Uzbekistan 5 Uzbekistan to establish paulownia plantations 6 Cotton processing enterprises to be privatized 6 Economy and Finance ......................................................................................................................................................................... 7 Uzbekistan to build chemical plant to replace imports of hydrogen peroxide 7 Uzbekistan establishes a new public fund to support bloggers and mass media 7 The first three free trade zones to be created in Uzbekistan 8 Innovative technologies to be widely introduced in the construction industry 8 Modern projects to be introduced into the livestock industry 9 EBRD looking for expansion in Uzbekistan 10 World Bank ready to participate in modernization of airports in Uzbekistan 10 Uzbekistan to hold large-scale aviation forum 11 Business 11 Starbucks plans to open its shops in Uzbekistan 11 New state airline to appear in Uzbekistan 12 Two hectares of land plot near Karatepa reservoir in Samarkand put up for auction 13 Hotel Chorsu put up for auction at purchase price of 1 soum 13 Procter & Gamble intends to start production in Uzbekistan 13 Hyatt Regency Tashkent to be privatized 14 Business incubators for startups to be created in Tashkent 14 Tourism and Culture .......................................................................................................................................................................... 14 Uzbekistan is the safest country for travel and investment - Pakistani journalist 14 Uzbekistan is represented at the tourism fair "Vakantie Salon Antwerp - 2020" 15 CNN: Uzbekistan is an unmissable gem of Central Asia 16 //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 4/03/2019 Uzbekistan, January 1-31, page 1 of 17 2020 TOP NEWS OF THE PERIOD Uzbekistan to host first Tashkent International Investment Forum First Tashkent International Investment Forum will be held in March of 2020, Trend reports via Uzbekistan’s Ministry of Investments and Foreign Trade. The event aims to bring together more than 1,500 executives of foreign and domestic companies, investors, exporters and international media. The main purposes of the event are: opportunity to demonstrate the leading enterprises of Uzbekistan, as well as their sales to foreign investors, which are able to provide modernization and technological upgrading of production. The event is held by initiative of the president of Uzbekistan, Shavkat Mirziyoyev. "The global experience shows, that only the state conducting active investment policy reaches stability and competitiveness of the national economy. So it can be stated, that, investment is the driver of the economy, its heart", stressed the head of state. The forum program includes sessions in several areas: "Openness to business", "Deepening of regional ties" and «Use of technological innovations". The Forum is organized by Uzbekistan’s Ministry of Investment and Foreign Trade. Trend News Agency – trend.az National mining pool to be created in Uzbekistan Uzbekistan plans to place crypto assets to state-owned companies Mobiuz and Uzbekgidroenergo to attract investors, follows from the draft presidential decree placed on regulation.gov.uz portal. In particular, for development purposes, it is proposed to create a National mining-pool. “For the further development of the digital economy and cryptocurrency exchanges of Uzbekistan, it is proposed to regulate the circulation of crypto assets with separate special regulatory legal acts. In addition, all operations with crypto assets, as well as income received from this activity, are not taxed, and foreign exchange transactions with them are not subject to legal norms about currency regulation,” the report said. The project provides for creation of the Regulatory sandbox for development of digital technologies of Uzbekistan Blockchain Valley and the National mining-pool of Uzbekistan (Cryptocurrency Mining Pool) to combine the hardware capacities of miners - residents and non-residents of Uzbekistan. From February 1, it is proposed to make industrial mining a licensed type of activity, and private - to register in the National mining-pool. At the same time, membership in the mining pool for all miners will be mandatory. For them, a privilege is provided for paying for electricity without the use of a raising factor. For the purposes of a legal experiment, exemption from compliance with legal requirements is allowed for residents of the Regulatory Sandbox. In addition, they are exempted from customs payments (excluding customs duties and VAT) for imported computer equipment and other equipment as part of //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 4/03/2019 Uzbekistan, January 1-31, page 2 of 17 2020 their projects. For foreign citizens, who have concluded an employment contract with a resident of the Regulatory Sandbox, it is not necessary to obtain permission to engage in labor activities in Uzbekistan. In addition, in accordance with the presidential resolutions PP-3832 dated July 3, 2018 “On measures for the development of the digital economy in the Republic of Uzbekistan” and PP-3926 dated September 2, 2018 “On measures for organizing the activities of crypto exchanges in Republic of Uzbekistan”, transactions of legal entities and individuals related to the circulation of crypto assets, including those carried out by non-residents, are not subject to taxation, and income derived from these operations is not included in the tax base for taxes and other mandatory payments. kun.uz First crypto exchange launched in Uzbekistan On January 20, the South Korean Kobea Group launched the UzNEX crypto exchange in Uzbekistan, the only crypto exchange in Central Asia, UzA said in a statement. The exchange will use the soum, credit cards and US dollars in trading. The opening ceremony was held at the Korean Cultural Center in Tashkent as part of a conference on blockchain technology. In the ceremony were present CEOs of blockchain companies in South Korea, Japan, Singapore, as well as officials of Uzbek ministries and departments. “Security experts from the world's leading crypto exchanges will around the clock and continuously monitor the platform, and the Engineering Technology Center will provide specialized solutions based on the recommendations of the Financial Action Task Force on Money Laundering (FATF). In addition, the world-famous company in the field of security of digital assets, BitGo will provide a “hot wallet”, the statement said. The Kobea Group also plans to open blockchain departments in biggest universities in Uzbekistan. Tashkent Times – tashkenttimes.uz POLITICS AND LAW Senate of Belgium ready to expand inter-parliamentary cooperation with Uzbekistan On January 23, 2020, Ambassador of Uzbekistan Dilyor Khakimov met with the new President of the Belgian Senate Sabine Laruelle, in Brussels. At the meeting, the parties discussed the current state of bilateral relations and prospects for expanding them. Issues of strengthening inter-parliamentary dialogue were also considered, the MFA said. Sabine Laruelle noted that Brussels highly appreciates the nature and content of large-scale reforms carried out at the initiative of President Shavkat Mirziyoyev, his open policy. The President of the Senate expressed the hope that during the upcoming visit to Brussels, the head of Uzbekistan will visit the Belgian Senate, which will contribute to the expansion of inter-parliamentary cooperation. In this context, she welcomed the successful holding of parliamentary elections in Uzbekistan on December 22 last year based on universally recognized democratic principles. //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 4/03/2019 Uzbekistan, January 1-31, page 3 of 17 2020 The Belgian side supported the proposal to pay more attention to issues of trade-economic cooperation between the parties, in particular between the regions of Belgium and Uzbekistan, representatives of small and medium-sized businesses. Also, one of the key areas for the development of relations should be tourism and an increase in the number of Belgian travelers in Uzbekistan. Sabine Laruelle also praised the abolition of the visa regime for citizens of the EU countries. The Senate President expressed great interest in the efforts of Uzbekistan to overcome the consequences of the Aral Sea tragedy. In this regard, she noted