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  • 16 Jan 2017 12:30 PM | Anonymous, 10.01.2017

    Kazakhstan, the world's top uranium producer, is cutting output of the commodity by 10% this year due to poor market conditions triggered mostly by a global oversupply of yellowcake. State-owned  uranium  company  and  global  production  leader,  Kazatomprom,  said  production  for 2017  will  be  reduced  by  2,000  tonnes,  which  is  about  3%  of  the  total  global  output,  according Cantor Fitzgerald Canada Research’s figures. “These strategic [uranium] assets are far more valuable to our shareholders and stakeholders being left  in  the  ground  for  the  time  being,  rather  than  adding  to  the  current  oversupply  situation,” Kazatomprom Chairman Askar Zhumagaliyev said in the statement. "Analysts see the move as a “game changer” that should boost the global uranium market in the very short term." He added the production would pick up pace once market conditions improve.

    Cantor  Fitzgerald’s  analysts  Rob  Chang  qualified  the  move  as  a  “game  changer,”  adding  he expected  to  see  across  the  board  strength  in  the  uranium  space  very  soon.  “Kazatomprom’s relentless  increases  in  production  over  the  years  was  one  of  the  top  causes  for  uranium  price weakness,” Chang said in a note to investors. He added market observers had given up on expecting Kazakhstan to exercise production restraint as  its  mines  were  the  world’s  lowest  cost  operations  and  constant  output  hikes  appeared  to  be  a cultural focus for the country. “This news is a definite surprise and may be the inflection point for the uranium space to head higher across the board,” he said. Kazakhstan’s  uranium  is  produced  by  Kazatomprom,  its  subsidiaries  and  joint  ventures  with international  partners.  The  exact  change  in  production  levels  vary  by  mine  and  were  approved through  the  respective  management  boards.    This  includes  joint  ventures  with  Cameco’s (TSX:CCO-TSX, NYSE:CCJ) Inkai mine that was expected to produce 5.8 million pounds this year prior to today’s announcement. Kazatomprom said that even with the announced output cuts, the company will continue to be the world’s No.1 uranium producer. Kazakhstan climbed to the top position on the uranium production ranking in 2009 with almost 28% of the total world’s output, then 33% in 2010, rising to 41% in 2014, and 39% in 2015. 


  • 10 Jan 2017 12:22 PM | Anonymous

    Citizens of 80 countries can enter Belarus visa-free for up to 5 days through Minsk National Airport, the press service of the President of Belarus reports on 9 January.

    Visa-free entry will apply to citizens of 39 European states, including all EU countries, as well as to Brazil, Indonesia, the USA, Japan and other states (see the FULL list bellow). 

    These are, first of all, countries without migration problems, strategic partners of Belarus and the states that have unilaterally lifted visas for Belarusian citizens.

    The new rules also cover such categories of travelers as non-citizens of Latvia and persons without citizenship from Estonia.

    To enter Belarus visa-free, foreigners need to have a valid passport or other travel document, a certain sum of money (equivalent of 2 basic amounts, or 42 Belarusian rubles, for each day of stay), a medical insurance valid in Belarus.

    Citizens of Vietnam, Haiti, Gambia, Honduras, India, China, Lebanon, Namibia, Samoa must also have a valid multiple visa to any EU member state or Schengen country with a mark about the entry into their territory, as well as tickets confirming leave from Minsk National airport within 5 days from the date of entry.

    Visa-free travel does not apply to persons coming to Belarus with flights from Russia and intending to fly to Russia.

    The decree will come into force one month after its official publication.

    Belarus has recently lowered the cost of long-term visas for European citizens.

    Last year, Belarus continued steps in facilitating visa procedures for foreign tourists. In April it granted visa-free entry for citizens of the UAE; in August to Chinese tourists arriving in groups. In the end of November, visa-free trips to Belarus opened for Brazilian citizens. In October 2016, the Augustow Canal park in Hrodna region became visa-free for visits lasting up to 5 days, which has attracted tourists from over 20 countries.

    The list of 80 countries in Decree No8 “On the introduction of the visa-free entry and departure for foreign citizens”

    Albania Estonia**** Lithuania San Marino
    Andorra Finland Luxembourg Saudi Arabia
    Antigua and Barbuda France Macau** Seychelles
    Australia Gambia* Macedonia Singapore
    Austria Germany Malaysia Slovakia
    Bahrain Greece Malta Slovenia
    Barbados Haiti* Mexico Sovereign Military Order of Malta**
    Belgium Honduras * Monaco Spain
    Bosnia and Herzegovina Hong Kong ** Namibia* Sweden
    Brazil Hungary New Zealand Switzerland
    Bulgaria Iceland Nicaragua The Argentine
    Canada India * Norway The Federated States of Micronesia
    Chile Indonesia Oman The Netherlands
    China* Ireland Panama The Republic of Korea
    Commonwealth of Dominica Italy Peru The Republic of Vanuatu
    Croatia Japan*** Poland The United Kingdom
    Cyprus Kuwait Portugal The United States of America
    Czech Republic Latvia *** Romania Uruguay
    Denmark Lebanon * Saint Vincent and the Grenadines Vatican City
    El Salvador Liechtenstein Samoa* Vietnam*

    * If there is a valid document for travel abroad with a valid multiple visa of the states-members of the European Union or the states-participants of the Schengen area with a note of entry to the territory of a state-member of the European Union or a state-member of the Schengen area, as well as tickets confirming the date of departure from the Minsk National Airport.

    ** It is not a state.

    *** Including persons with non-citizen status of the Republic of Latvia.

    **** Including persons without citizenship, permanently residing in Estonia.

  • 10 Jan 2017 11:53 AM | Anonymous

    Kazakhstan exports more than imports in 2016, 30 December 2016

    Kazakhstan’s foreign trade turnover in 2016 is expected to amount to US $58 billion, Sputnik news agency reported with reference to Meirzhan Maikenov, deputy chairman of the national investment and export promotion agency KAZNEX INVEST. “As a result of 2016, Kazakhstan’s foreign trade would total $58 billion,” Maikenov told a news conference  on  December  28,  with  Kazakhstan’s  export  amounting  to  $35  billion  and  import amounting to $23 billion. “There  is  a  positive  balance:  we  are  exporting  more  than  importing,”  the  official  said.  He  also emphasized that processed products have accounted for 35 percent of the total exports, which, in his opinion, testifies to improving the country’s export basket. Last year, Kazakhstan’s foreign trade amounted to $60.7 billion, with the export at $41.2 billion and import at $19.5 billion. Kazakhstan exported its products to 117 countries. In Maikeyev’s words, Kazakhstan exports raw materials mainly to non-CIS countries and processed products are exported to CIS countries, the Caucasus, China, and Iran.   

    Crude oil and metals remain the main export items of Kazakhstan, and the country’s export revenues have declined due to lower oil and commodity prices. The government of Kazakhstan has been pursuing a policy of increased domestic production and import substitution, including for food products. Deputy  Agriculture  Minister  Gulmira  Isayeva  said  earlier  this  year  that  domestic  producers  now meet 95 percent of the Kazakh population’s needs for basic food products.

    Kazakhstan's new measure to boost tourism, investment, 3 January 2017 

    Kazakhstan has lifted visa requirements for citizens of the European Union, OECD countries and a number of other states as part of efforts to boost investment and tourism. The  measure  adopted  earlier  by  neighboring  Uzbekistan  comes  as  Kazakhstan  as  Central  Asia's largest economy has been battered by low oil prices and financial distress in neighboring Russia.

    According to Kazakhstan’s foreign ministry, since the beginning of 2017, citizens of EU and OECD countries, as well as Malaysia, Monaco, the United Arab Emirates and Singapore, could travel to Kazakhstan for up to 30 days without a visa. In  a  statement,  the  ministry  said  the  initiative  was  meant  to  "promote  an  even  more  favorable investment climate" and "develop the country's tourism potential." "The move will open up additional opportunities to the business community for cooperation with the outside world and facilitate international contacts in different spheres," the statement said. Kazakhstan's landscape is dotted with mountains, lakes and desert, and the glitzy capital Astana is home to futuristic architecture.

    Back  in  December,  neighboring  Uzbekistan  announced  plans  to  roll  back  its  highly  restrictive tourism regime by cancelling visa requirements for 15 countries. That move followed the election of interim leader Shavkat Mirziyoyev, who succeeded the late Islam Karimov. 

  • 19 Dec 2016 10:54 AM | Anonymous

    As distributed by the Embassy of Uzbekistan in the United States of America in its electronic communication: DOWNLOAD PDF

  • 22 Nov 2016 9:08 AM | Anonymous

    Jennifer Campbell,, 16.11.2016

    Canadians wanting to travel to Kazakhstan will have an easier time of it come January, when they can do so visa-free.

    Kazakh Ambassador Konstantin Zhigalov said his government decided to lift visa requirements for all Organization for Economic Co-operation and Development member states, which includes Canada, starting Jan. 1. Beginning that day, Canadians will be able to travel to Kazakhstan visa-free for up to 30 days.

    “This is an unprecedented measure aimed at making travel to our country easier for all OECD countries,” the ambassador said. “(Our) embassy had been working hard to get Canada on the list of visa-free countries because it makes it much easier for the citizens of Canada travelling to Kazakhstan for business, tourist, private and transit purposes.”

    Although it hasn’t happened yet, Zhigalov said he hopes the Canadian government will reciprocate and allow Kazakh citizens to travel visa-free to Canada.

    The Kazakh embassy has been busy these days — it has established a Kazakstan-Canada business council and a Canada-Kazakhstan Parliamentary Friendship Group.

    From a business point of view, Kazakhstan is an important trading partner, with more than $7 billion in bilateral trade between 2012 and 2014, a volume that’s lessened in recent years because of lower commodity prices and overall market volatility. Yet even today, Kazakhstan is on Canada’s global market action plan.

    The creation of the business council aims to reinvigorate trading activities, the ambassador said. It was officially launched earlier in 2016 with its inaugural meeting in Astana, Kazakhstan’s capital, attracting more than 130 participants, including 30 representatives from Canadian companies, government and non-profit organizations. Annual meetings, alternating between Canada and Kazakhstan, are planned although the 2017 meeting will again be held in Astana, because the city is hosting EXPO-2017 and will attract many of the Canadian members.

    The parliamentary friendship group, meanwhile, held its inaugural meeting last month to review bilateral relations and identify new priorities. MP Robert Nault and Sen. James Cowan will co-chair the group.

    “We very much appreciate the commitment of Canadian parliamentarians to strengthening (our) partnership in the wake of the 25th anniversary of our diplomatic relations,” Zhigalov said.

    Finally, for the first time in its history, Kazakhstan joins the UN Security Council as a non-permanent member, beginning Jan. 1.

    “It is the first time not only for Kazakhstan, but for the entire Central Asian region, to have a voice in the world’s most powerful body,” Zhigalov said.


  • 14 Nov 2016 11:36 AM | Anonymous

    On November 8-9, 2016 Ms. Tatyana Valovaya, Member of the Eurasian Economic Commission’s Board – Minister in charge of the Development of Integration and Macroeconomics, visited Montreal and Ottawa.

    In Ottawa, Minister Valovaya met with Ms. Alex Bugailiskis, Assistant Deputy Minister, Europe, Middle East and Maghreb, Department of Global Affairs of Canada and discussed the current status and prospects of the Eurasian Economic Union (EAEU) ‒ a regional economic integrational organization that unites Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

    The meeting was also attended by H.E. Mr. Konstantin Zhigalov, Ambassador of Kazakhstan to Canada, given that this year, Kazakhstan is chairing the EAEU.

    Minister Valovaya briefed the Assistant Deputy Minister of Foreign Affairs of Canada with the main principles of creation and development of the Eurasian Economic Union, noting that during the establishment of the EAEU it was taken into account the experience and the “lessons” of the European Union. The Eurasian Economic Commission’s Minister emphasized that the EAEU is based on economic integration only and it has no political inspirations. This principle protects the EAEU from the appearance of the internal problems, which are currently being faced by the European Union (including “Brexit”). Another important factor is the lack of plans to create a single currency within the framework of the EAEU (it’s a non-monetary union), and this is partly justified by the occurrence of the negative experience of the Eurozone’s functioning. At the same time, the EAEU is working on the harmonization of national legislations in the financial sector, in order to establish by 2025 a single market for financial services (with a supranational institution that will be located in Almaty and it will regulate the financial market).

    During the meeting, both sides also discussed other issues concerning the EAEU’s functioning, as well as the prospects of possible cooperation between the EAEU and Canada.

    While in Ottawa, Minister Valovaya gave a lecture titled “Eurasian Economic Union: Current Developments and Prospects” at Carleton University. 

    In Montreal, Minister Valovaya as a keynote speaker participated in a seminar titled “Trading with the Eurasian Economic Union”, which was arranged with assistance of the Canada Eurasia Russia Business Association (CERBA). She presented to the Canadian business community information about the EAEU and advantages of doing business with the EAEU member countries. 

    Along with Minister Valovaya, the event was attended by H.E. Mr. Armen Yeganian, Ambassador of the Republic of Armenia to Canada, H.E. Mr. Konstantin Zhigalov, Ambassador of the Republic Kazakhstan to Canada, H.E. Alexander Darchiev, Ambassador of the Russian Federation to Canada and Mr. Oleg Kravchenko, Director of the Americas Department, Ministry of Foreign Affairs of the Republic of Belarus. 

    Ambassador Zhigalov informed the attendees about the priorities of Kazakhstan’s presidency at the EAEU in 2016 that was declared as the “Year of the deepening of the Union’s economic relations with third countries and key integrational associations”. Kazakhstan has proposed to deepen the EAEU contacts with the key blocks, including the Shanghai Cooperation Organization. Free movement of goods and services within the EAEU corresponds to “The Silk Road Economic Belt” initiative suggested by the Chinese leadership.

    Kazakhstan also raises the issue of the need to establish cooperation between the Eurasian Economic Union and European Union. We have proposed an initiative to arrange a joint conference between the EAEU and EU, where both trading blocs could consider the idea of ​​the Great Eurasia that will bring together in a single integration project of the 21st century the Eurasian Economic Union, the Silk Road Economic Belt and the European Union.

    Many countries have expressed their interest in creating a free trade zone with the EAEU. In 2015, the EAEU signed the first free trade agreement with Vietnam. More than 30 countries, including China, India, Israel, Egypt, Iran expressed their desire to expand trade and economic cooperation with the EAEU member countries. The intention of these and other countries has been encouraged by their willingness to use the advantages of cooperation with the Eurasian economic alliance and common market of the five states, as well as to elevate the existing partnership to a new level.

    The economic potential of the Eurasian integration is very high. The combined amount of the nominal GDPs of the five members of the Eurasian Economic Union is $2.2 trillion and the common market covers more than 182 million people.

    In this regard, Ambassador Zhigalov invited the Canadian companies to partner with the Alliance, including with Kazakhstan, through participation in CERBA and the Kazakhstan ‒ Canada Business Council.

  • 31 Oct 2016 2:09 PM | Anonymous

    Embassy of the Republic of Kazakhstan to Canada, 29 October 2016

    Natural Resources Canada Official meets Kazakhstan counterparts in Astana

    On October 24-28, 2016, Mr. Mark Pearson, Director General, External Relations, Science and Policy Integration, Natural Resources Canada visited Astana and participated in the Extractive Industries Transparency Initiative (EITI) Board meeting. The EITI is a global Standard to promote the open and accountable management of natural resources, and both Kazakhstan and Canada are committed to promote public awareness about how countries manage their oil, gas and mineral resources.

    Moreover, Mr. Pearson met with the leadership of Kazakhstan’s Ministry Investments and Development, Committee of Geology and Subsoil Use, “KazGeology” National Company and KazEnergy Association. Both parties discussed the current status and prospects of the Kazakhstan – Canada partnership in the area of mining and geology, exchanged of views on the best practices in geological survey, resource exploration and development, as well as implementation of international standards in this area. It was agreed to further support mutually beneficial cooperation in the mining area, including with help of Kazakhstan’s delegation, which is going to participate in the Prospectors & Developers Association of Canada’s (PDAC) International Convention, Trade Show & Investors Exchange in march, 2017 in Toronto.

    Alberta trade mission visits Kazakhstan

    A trade mission of the province of Alberta to Kazakhstan (Almaty, Taldy-Korgan, Astana) was arranged on October 24-29, 2016. The mission included five Canadian companies and three business associations (Amity Ag, Xports International, Boda Farm, Agriprocity, Stamp Seeds, Canadian Beef Breeds Council, Canadian Hereford Association, Canadian Angus Association), as well as representatives of Lakeland College. Along with visiting farms in Almaty and Akmola regions, the companies and associations from Canada took part in the KazAgro / KazFarm agricultural and animal breeding industry fairs in Astana, in which a company from the province of Saskatchewan, Bourgault Industries Ltd also took part.

    While in Astana, the trade mission’s participants met with Vice-Minister of Investments and Development of Kazakhstan Yerlan Khairov, leadership of the Ministry of Agriculture, National Export and Investment Agency “Kaznex Invest”, “Astana Socio-Entrepreneurial Corporation” JSC and others. Both sides expressed their interest to further cooperate in the agricultural area, including beef cattle breeding, grain production, agricultural equipment, education. 

  • 31 Oct 2016 2:01 PM | Anonymous

    Embassy of the Republic of Kazakhstan to Canada, 26 October 2016

    Inter-parliamentary cooperation has been a key area of Kazakhstan-Canada partnership for many years. In October 2012, a parliamentary delegation led by Mr. Nurlan Nigmatulin, the Speaker of Kazakhstan’s Majilis, lower chamber of the Parliament, visited Canada and held talks with the Governor General, Prime Minister, and the Speakers of Senate and House of Commons. In September 2014, the first ever Canadian parliamentary delegation led by Mr. Leon Benoit, then-Chair of the House Natural Resource Committee, paid a visit to Kazakhstan.

    Following the parliamentary elections in Canada in 2015 and in Kazakhstan in March 2016, Kazakhstan-Canada Parliamentary Cooperation Group was relaunched with new members. On October 26, 2016, Ambassador Konstantin Zhigalov and the Parliamentary Group’s members held the Group’s inaugural meeting to reinvigorate bilateral relations and identifying new avenues of cooperation between two countries.

    The Group will be led by two Co-Chairs: The Honourable Robert Nault, Chair of the House Standing Committee on Foreign Affairs and International Development, and Senator James Cowan. The inaugural meeting was attended by Senator David Wells, Mr. James Maloney, Chair of the House Standing Committee on Natural Resources, The Honourable Candice Bergen, MP, The Honourable Gerry Ritz, MP, The Honourable Peter Kent, MP, Mr. Randy Hoback, Vice-Chair of the House Standing Committee on International Trade. A number of other MPs and Senators have also agreed to join the Group’s activities in the nearest future.

    At the meeting, paying a special tribute to the past achievements of Kazakh-Canadian relations in political, economic, cultural spheres, and praising the current level of cooperation, including but not limited to the recent meetings of President Nursultan Nazarbayev with Prime Minister Justin Trudeau, Foreign Ministers Erlan Idrissov and Stephane Dion, establishment of Kazakh-Canadian Business Council, Ambassador Zhigalov emphasized the importance of  setting new goals and targets to be achieved in the years to come.

    Members of Canadian Parliament expressed their commitment to strengthening Kazakhstan-Canada partnership ahead of the symbolic dates of the 25th Anniversary of Kazakhstan's Independence in 2016, 25th Anniversary of Kazakh-Canadian diplomatic relations and 150th Birthday of Canada in 2017. The members agreed to join efforts to organize exchange visits of the two countries’ parliamentary delegations in 2017.

    Participation of Canadian companies in the International Exhibition EXPO-2017, which will be held from June to September 2017 in Astana, arranging high-level visits and promoting inter-parliamentary dialogue, business links and people-to-people ties between the two countries were among the issues discussed. A decision was made to establish the Group’s Secretariat to further facilitate common efforts aimed at building an even stronger Kazakhstan-Canada partnership.

  • 20 Oct 2016 10:26 AM | Anonymous

    US Department of the Treasury bulletin of 10/18/2016 11:38 AM EDT

    The Department of the Treasury, in consultation and coordination with the Department of State, is authorizing by general license transactions involving certain Belarusian entities blocked pursuant to Executive Order 13405.  This license does not generally authorize the release of property blocked pursuant to E.O. 13405.  This authorization expires on April 30, 2017, unless extended or revoked.

  • 14 Oct 2016 10:03 AM | Anonymous

    Press Service of the President of the Republic of Uzbekistan, 7 October 2016

    In order to ensure the accelerated development of small business and private entrepreneurship, further strengthen the legal mechanisms for protection and guarantees of the inviolability of private property, elimination of bureaucratic obstacles to business development, improvement of investment climate and business environment in the country: 

    1. Identify provision of greater freedom for small business and private entrepreneurship, radical reduction of government intervention in their activities, provision of early warning, efficient prevention of violations as a top priority of the state policy and the primary task of public authorities, involved in the sphere of further development of entrepreneurship. 

    Public authorities, especially law enforcement and regulatory agencies must: 

    • ensure unconditional implementation of the above requirements, as well as the principle of priority of the rights and lawful interests of business entities in their work; 
    • within two months submit substantiated proposals based on critical analysis of their functions and authorities, aimed at improving and enhancing the effectiveness of measures on prevention of violations; 
    • ensure strict compliance with the requirements of the legislation on liability of officials for unlawful interference and obstruction in conducting a business, the unjustified suspension of the activity, as well as compensation of damages to businesses by responsible officials who caused such damages. 

    2. Approve the Program of measures to ensure the rapid development of entrepreneurship, comprehensive protection of private property and substantial improvement of the business climate in the Republic of Uzbekistan according to the annex (hereinafter – Program). 

    Impose on the heads of ministries and public authorities, local governments a personal responsibility for timely and proper execution of activities in the Program. 

    3. Starting January 1, 2017: 

    • to abolish all kinds of unscheduled inspections of business entities, other than inspections related to liquidation of the legal entity, as well as short-term inspections, carried out on the basis of appeals of individuals and legal entities on the facts of violations of the law, exclusively by decision of the National Council on Coordination of Supervisory Authorities. 
    • to abolish all kinds of counter inspections of business entities, including inspections conducted as part of investigation under criminal cases; 
    • to exempt business entities and their staff, first-time offenders of legislation when conducting financial and economic activities, from civil and criminal liability, fines and financial sanctions (other than penalty) in case of voluntary elimination of the violations and compensation of damage to property within the established timeframes, except for cases of harm to human life and health; 
    • to exempt persons who committed an offense related to the implementation of illegal business activities, from civil and criminal liability, in case of voluntary compensation of the damage, registering as business entities and obtaining necessary permits within one month from the date of detection of the offense; 
    • to criminal penalty in the form of deprivation of the right to carry out business activities is not applied to businesses; 
    • to newly established manufacturing enterprises with foreign investments, have the right to pay taxes and other obligatory payments (except for the resource and customs duties) at the rates that were established on the date of their state registration, within the first five years of their operations; 
    • to exempt business entities from paying the state fee when they apply for issuing a writ of execution to enforce the arbitral court decisions; 
    • to abolish the requirement for registration of export contracts of business entities in the state customs service bodies, except for contracts for the export of goods specified in the appendices 1, 2 and 4 of the Decree of the President of the Republic of Uzbekistan dated October 10, 1997 № UP-1871 "On additional measures to stimulate the export of goods (works, services)", maintaining control and monitoring of the foreign trade contracts by currency control authorities through the Unified electronic information system of foreign trade operations; 
    Certificate of origin of the exported goods from the Republic of Uzbekistan are issued within one day to exporters, who had previously received a similar certificate for identical goods.

    4. Recommend the Chambers of the Oliy Majlis of the Republic of Uzbekistan to consider establishment of the Ombudsman institution to protect the rights and lawful interests of business entities under the Oliy Majlis of the Republic of Uzbekistan with the following key authorities: 

    • participation in the formation and implementation of state policy in the field of business development, protection of the rights and lawful interests of business entities; 
    • provision of legal support to businesses going through the inspections of their activities;
    • monitoring of the practical implementation of the norms and requirements of the legislation on guarantees of freedom of entrepreneurship; 
    • assessment of the impact of the adopted legislation on implementation of business activity; 
    • monitoring compliance of public, regulatory and law enforcement authorities, local governments with regulations protecting rights and lawful interests of entrepreneurs; 
    5. The Ministry of Finance, Central Bank, State Tax Committee of the Republic of Uzbekistan, jointly with the relevant ministries and public authorities, submit within three months to the Cabinet of Ministers substantiated proposals aimed at: 
    • further improving the quality and efficiency of tax administration, ensuring minimization of costs for collection of taxes and other mandatory payments, the widespread introduction of remote monitoring and improving the legal literacy of taxpayers; 
    • the introduction of advanced market-based mechanisms of currency regulation and exchange rate policy to stimulate the growth of the export potential of the republic, attraction of foreign direct investments and improvement of competitiveness of domestic producers on foreign markets; 
    • further improvement of the legislation, providing comprehensive legal grounds and criteria for the appointment and conduct of the short-term inspections of business entities; 
    • reduction of the number and timeframes of conducting inspections by improving the efficiency of off-site control of activities of entrepreneurs and business entities; 
    • enhancing the legal framework on provision by audit firms and tax consultants of their services, to strengthen their accountability for the quality of services and the reliability of their reports as one of the main mechanisms for the prevention of offenses and guarantying uninterrupted operation of law-abiding businesses; 
    • introduction of modern principles and mechanisms of regulating the banking sector, the eradication and prevention of administrative interference into the activities of commercial banks by the public authorities, primarily the credit policy; 
    • abolition of barriers to implementation of effective banking operations, as well as ensuring the rights of banks’ clients on the free disposal of their own cash. 
    6. The State Committee for Architecture and Construction, the State Committee for Nature Protection, the Ministry of Health, Ministry of Internal Affairs of the Republic of Uzbekistan, the Agency "Uzstandard" jointly with relevant ministries and public authorities, within three months: 
    • conduct and audit of all the technical requirements (sanitary, environmental, urban planning and construction regulations, fire safety regulations, normative documents on standardization and technical regulations), and based on the best international practice, develop and adopt appropriate regulations, aimed at eliminating inefficient, outdated rules and practices contradicting with market mechanisms; 
    • ensure posting and regular updating of existing regulations in the field of technical regulation on their official websites in order to provide unhindered and free access to them. 
    7. The Supreme Court, Supreme Economic Court, the General Prosecutor's Office, the Ministry of Finance and the Ministry of Justice of the Republic of Uzbekistan jointly with relevant ministries and public authorities within three months: 
    • submit proposals for the phased transfer to the jurisdiction of courts of functions and powers of supervisory bodies on imposing administrative penalties on businesses and their staff; 
    • develop common grounds and substantiated criteria for determining the damages, caused as a result of economic crime and illegal interference into the activities of business entities. 
    8. The General Prosecutor's Office in cooperation with the Supreme Court, the Ministry of Justice, Ministry of Internal Affairs, National Security Service of the Republic of Uzbekistan and other relevant ministries and public authorities within two months submit in the established manner: 
    • draft Law of the Republic of Uzbekistan "On Countering Corruption", aimed primarily at further strengthening the trust of citizens and businesses towards public authorities, to improve investment attractiveness of the country, as well as prevention of corruption offenses; 
    • proposals for further liberalization of criminal legislation related to business activities; 
    • proposals for amending legislation, providing for the establishment of a clear procedural regulation of initiating, conducting and extension of inspections of financial and economic activities within investigation of criminal cases, aimed primarily at ensuring the inviolability of private property, the prevention of undue interference into the activities of entrepreneurs and suspension of their operation. 

    9. The Supreme Economic Court of the Republic of Uzbekistan within three months ensure development of the program, providing for a phased introduction of mechanisms of audio and video recording of hearings, publication on the web-sites of courts of the court decisions, in order to ensure transparency and objectivity, reliable legal protection of entrepreneurs' rights. 

    10. The Ministry of Development of Information Technology and Communications jointly with the Ministry of Justice, Ministry of Economy, Ministry of Finance, Central Bank, the Chamber of Commerce of the Republic of Uzbekistan and other relevant ministries and public authorities, within one month submit to the Cabinet of Ministers proposals on extension of the list of public services, provided exclusively through “single window” centers for provision of public services to businesses. 

    11. The Ministry of Justice, Ministry of Economy, the Ministry for the development of information technologies and telecommunications, the Chamber of Commerce of the Republic of Uzbekistan jointly with other relevant ministries and public authorities, within the three-month period conduct a critical review of regulations for compliance with the legislation on permit procedures, licensing and guarantees of the freedom of entrepreneurship and submit to the Cabinet of Ministers proposals on eliminating obsolete permit procedures and reduction of time related to licensing procedures. 

    12. Assign a control over execution of this Decree to the first deputy Prime minister of Uzbekistan, Minister of Finance of the Republic of Uzbekistan R. Azimov and the Prosecutor General of the Republic of Uzbekistan I. Abdullaev. 

    Acting President of the Republic of Uzbekistan Sh. Mirziyoyev 

    October 5, 2016 Tashkent City 

    * * * 
    Commentary to the Decree of the President of Uzbekistan «On additional measures to ensure the accelerated development of entrepreneurial activity, comprehensive protection of private property and substantial improvement of business climate» 

    This approved decree is aimed primarily at further strengthening the legal protection of private property, creation of favorable conditions and comprehensive support for small business and private entrepreneurship, increasing the investment attractiveness of the Republic and is a clear evidence of the transition of state policy in this sphere to a qualitatively new level. 

    In particular, the decree establishes "providing greater freedom to small business and private entrepreneurship, a radical reduction of interference in their activities with a focus on early warning, improving the efficiency of prevention of violations" as a critical priority and of paramount tasks of the state authorities. For these purposes, the state bodies, especially law enforcement and regulatory agencies are instructed to: 

    • provide the unconditional implementation of the established requirements and the principle of priority of the rights and legitimate interests of business entities, and in connection with the above, to critically review own functions and powers; 
    • ensure strict compliance with the requirements of the legislation on the responsibility of officials for illegal interference and obstruction of business activities, its unjustified suspension and compensation of the damage caused to business entities directly from the guilty. 
    This provision obliges the public authorities to apply not only the most stringent disciplinary, administrative or criminal liability, but also to ensure the recovery of the damage caused to business entities directly from the perpetrators. 

    The implementation of these measures is aimed at preventing the initiation and conduct of illegal inspections, particularly cases of unjustified suspension of the activity of businesses and causing losses due to illegal actions by workers of state organs. 

    The decree establishes a number of fundamentally new mechanisms of state control, aimed at providing reliable legal guarantees against unjustified interference in the activities of business entities. 

    In particular, starting from 1 January 2017, following unprecedented measures are to be applied, including the abolition of all kinds of: 
    • unscheduled inspections over activities of business entities, excluding the inspections in connection with the liquidation of a legal entity, as well as conducted exceptionally by the decision of Republican Council on the coordination of regulatory authorities of short-term inspections based on appeals of individuals and legal entities about the facts of violations of the law; 
    • counter checks of activities of business entities, including in criminal cases. 
    Thus, from now on, regulatory authorities may not initiate unscheduled inspections. In order to ensure legal mechanisms for the protection of the rights and interests of citizens, short-term inspections remain limited only on the basis of appeals of individuals and legal entities on violations of the law. Such inspections can be carried out exclusively by the decision of the national Council, and its duration is limited to one working day. 

    Along with this, continuing the policy towards liberalizing administrative and criminal law, the decree provides for such drastic new measures as the exemption of businesses and their employees, who made financial and economic violations for the first time from all kind of liabilities. Entities carrying out an entrepreneurial activity without state registration are also exempt from liability, in the case of compensation for their damages and of the voluntary elimination of the consequences of violations within the established deadlines. 

    In addition, a criminal penalty of deprivation of the right to engage in entrepreneurial activities in respect of businesses is prohibited from now on. 

    These standards not only preclude double punishment of businesses, but also provide an opportunity for citizens, first-time offenders, who compensated their guilt, to continue their business activities without negative consequences, which also intends to stimulate their business activity. 

    In this regard, appropriate amendments will be made to the Penal code, the Code of Uzbekistan on administrative responsibility, the Tax code and other laws. 

    To improve the investment attractiveness of the Republic, the newly established industrial enterprises with foreign investments can enjoy tax rates and other mandatory payments in effect on the date of their registration during 5 years of their subsequent activity. 

    This exemption applies to all enterprises with foreign investment irrespective of the amount invested. 

    The implementation of the Decree will allow providing continuity and sequence of the course defined by the First President of the Republic of Uzbekistan on the drastic elimination of administrative barriers and artificial obstacles to the development of entrepreneurship as a key factor of sustainable development of the economy.