24 March 2019

00:00:00 (GMT+5)

Tashkent +13,5 °C

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30 Jan  2019 477

The Ministry of Investment and Foreign Trade established

The Ministry of Investments and Foreign Trade was established on the basis of the Ministry of Foreign Trade and the State Committee on Investments under the Presidential Decree on measures to improve the management system in the areas of investment and foreign trade.

It was determined that the new ministry is the successor of the Ministry of Foreign Trade and State Investments on their rights, obligations and treaties, including international ones.

New ministry tasks include:

- implementation of the unified state investment policy;

- coordination of work on attracting foreign investment, as well as the activities of government agencies and organizations on relevant issues;

- ensuring constant feedback with investors, assisting regions and domestic companies in attracting investments;

- implementation of a unified state policy in the field of foreign trade;

- regulation of Uzbekistan’s accession to the World Trade Organization and cooperation with other multilateral economic organizations.

The ministry is assigned responsibility to comply information on investors' appeals, and their submission for Presidential Administration. It takes into account proposals for the protection of their rights and legitimate interests, including potential candidates to invest funds in the development of a particular industry.

It was confirmed that a centralized investment projects database will be created on the Investment Portal until March this year.

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