Uzbekistan develops draft law “On innovation activity”

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan developed a draft law “On innovation activity”, which was published on the portal for discussion of normative legal acts.

The draft law was prepared in order to implement the roadmap for effective implementation of the Concept of the Administrative Reform of the Republic of Uzbekistan in order to strengthen innovative activity in solving the country’s social and economic problems and ensuring the competitiveness of the national economy.

Currently, the legislation of Uzbekistan has no document directed at developing innovations, regulate relations in this area, implementing and developing of promising scientific developments, etc.

The study showed that some countries adopted legislations in this area, including the United States, France, etc.

The main objectives of the bill are to create an effective mechanism for approbation, implementation and industrial development of promising scientific developments, providing additional incentives and benefits to enterprises developing and implementing innovative projects, primarily in high-tech industries.

The draft law contains eight chapters and 57 articles. It includes norms that contain a conceptual framework that will uniquely interpret certain terms used in the field of innovation; types of innovation activities and types of innovations are also indicated.

The document determines subjects and objects of innovation. The draft law envisages creation of innovative enterprises specializing in the implementation of innovative activities.

The development of such enterprises, including in the form of small ones, is one of the specific measures envisaged by the Concept, to encourage the development and introduction of innovations into production. The draft law regulates the procedure for transferring to developers the rights to objects of intellectual property and technologies created with the use of state budget funds.

In order to stimulate the expansion of sources of financing for innovation, it is envisaged that funding is provided both from budgetary and extrabudgetary resources, including through special innovative and / or venture funds.

It is planned to introduce insurance products to insure financial and other losses, taking into account high-risk nature of innovation activity.

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