Tashkent, Uzbekistan (UzDaily.com) — During the third plenary session, the Senate reviewed the Law "On Investments and Investment Activities."

This law regulates relationships arising from the implementation of a unified state policy in the field of investment activities, particularly direct investments.

The law aims to create a favorable investment climate in the country, actively attract direct investments, and ensure the rights of domestic and foreign investors and entrepreneurs.

The objectives of the law also include poverty reduction, safeguarding public health, providing quality education, rational use of natural resources, increasing processing and production capacities, developing a green economy, and protecting human rights.

Moreover, the law defines the key concepts, principles, and goals of investments and investment activities. It guarantees the freedom of investments, ensuring transparency and openness, freedom to conduct business, and the right to freely dispose of funds.

The law also provides for incentives for small, medium, large, and strategic investment projects, depending on the size of investments.

The scope of measures and incentives to stimulate investments is expanded, and the required share of foreign investments for forming the charter fund of foreign-invested enterprises is reduced from 15% to 10%.

The adoption of this law creates opportunities for both domestic and foreign investors to submit investment proposals to the authorized state body through the "single window" system and ensures fair and equal treatment, as well as the corresponding state support for their guarantees, rights, and obligations.

After the discussion, the law was approved by the senators.