According to Trend News Agency, Uzbekistan drastically reduced the registration fee for foreign companies, cutting it by a factor of 10 under the “On State Duty” law. The fee dropped from Som 3.4 million (US$272) to Som 340,000 (US$27).

On February 15, 2024, Uzbekistan’s President Shavkat Mirziyoyev signed a measure modifying the country’s laws to bring them into compliance with the World Trade Organization (WTO) accords. The lower house of the Uzbek parliament and the Senate approved the draft bill last December and January, respectively, impacting state obligations, advertising, trademarks and intellectual property.

Moreover, the ban on promoting natural and sparkling wines and imported beer has been lifted. Only wine and beer from nearby producers may be promoted under the existing “On Advertising” regulation, subject to specific restrictions.

Mirziyoyev earlier signed the “On Privatization of State Property” law. The legislation states that state-owned properties, state interests (shares and stakes), state unitary enterprises and state institutions are the targets of privatization of state property. All or a portion of state property may be privatized, except items exempted from privatization under state property management laws.

- Excel V. Dyquiangco