The Fund for Support of Digital Economy Development “Digital Trust” to be established in Uzbekistan

Tashkent, Uzbekistan ( -- Uzbek President Shavkat Mirziyoyev signed a resolution “On formation of Fund for Support of Digital Economy Development “Digital Trust”.

According to the document, the Fund will attract and consolidate investors’ funds for development of projects in the field of the digital economy, including those related to the implementation of the blockchain.

The new fund will carry out perspective and strategic projects in the field of digital economy, including in the sphere of crypto-assets and crypto-exchanges.

Fund for Support of Digital Economy Development "Digital Trust" will support training activities in the development and implementation of blockchain.

Among the objectives of the fund - support for startups in the field of blockchain, platforms for the circulation of crypto-assets and other areas of the digital economy.

The Fund’s resources will be formed through the deductions of the National Project Management Agency under the President of Uzbekistan (NAPU), grants and loans from international organizations, income from the shares owned by NAPA in the authorized capital of companies, income from the placement of temporarily available funds and other sources not prohibited by law.

The fund will finance projects in the digital economy, including blockchain, crypto-assets. The fund will be used to purchase shares and stakes in statutory funds of companies in the field of digital economy.

The Fund will finance the costs of organizing training events, conferences, seminars, including abroad. The fund will provide grants and grants to support students and young professionals. The fund will finance the attraction of foreign specialists to Uzbekistan.

The head of Uzbekistan also provided tax and customs benefits to the Digital Trust Foundation till 1 July 2021.

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