On November 13, President of Uzbekistan Shavkat Mirziyoyev signed a decree establishing the Council of Foreign Investors under the President.
The Council is an advisory body under the President of the Republic of Uzbekistan.
The composition of the Council is composed of leaders and representatives of foreign companies, banks, investment and other structures, international financial institutions and foreign government financial organizations, including the European Bank for Reconstruction and Development, which carry out investment and business activities in the Republic of Uzbekistan in the established manner, and also other participants.
The Council operates in the form of plenary and interim sessions. Plenary sessions of the Council are held once a year, intermediate sessions – at least twice a year. The coordination of plenary sessions of the Council is coordinated by the Administration of the President of the Republic of Uzbekistan and intermediate sessions are carried out by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan.
The main tasks of the Council:
- advising the Government of the Republic of Uzbekistan on the most important areas of investment, industrial, technological and innovative development of the country;
- direct participation in creating a favorable investment climate and effective mechanisms to stimulate domestic and foreign entrepreneurs to invest in priority sectors of the economy;
- ensuring effective interaction of state bodies and economic entities with foreign companies, banks, investment and other structures;
- identification and analysis of key factors that impede the attraction of investments and investor activity;
- development of effective proposals aimed at eliminating the factors hindering investment processes;
- assistance in improving export support mechanisms, consistent development of trade infrastructure, e-commerce system, creating favorable conditions for the promotion of domestic goods and services to foreign markets;
- introduction of positive foreign experience in the processes of creating and using modern product quality management systems;
- preparation of proposals and recommendations for further improvement of the legal framework in the field of investment regulation;
- identifying priority areas and developing effective measures to improve the international image, increase the position of the Republic of Uzbekistan in international ratings and indices.