On measures to improve the process of attracting and developing foreign investments and loans (RP-927-son)

24.07.2008

Resolution of the President of the Republic of Uzbekistan

In order to organize wide informing of foreign investors and international financial institutions about the favorable investment climate created in Uzbekistan and potential investment opportunities in the country's economy, to ensure clear coordination of the activities of state and economic authorities in the process of attracting and developing foreign investments and loans for modernization, technical and technological re-equipment of enterprises:

1. To establish that the leading link in the consideration, discussion and decision-making on attracting foreign investment and loans, the preparation of annual Investment programs, as well as medium-term development programs for industries and regions of the country is the Ministry of Economy of the Republic of Uzbekistan, which is responsible for coordinating the activities of all business entities subjects, regardless of departmental subordination, in solving these problems.

2. To approve:

Regulation on the procedure for attracting and developing foreign investments and loans in accordance with Appendix No. 1;

The scheme of interaction of project initiators and government bodies in the process of attracting foreign investment and loans in accordance with Appendix No. 2.

3. The Ministry of Economy, the State Committee of the Republic of Uzbekistan for Investments, other ministries, departments, state and economic management bodies, business entities, regardless of ownership and departmental subordination, when initiating and reviewing investment projects involving foreign investment and loans, strictly adhere to the Scheme according to Appendix No. 2.

4. To assign to the State Committee of the Republic of Uzbekistan on Investments the functions of forming a unified database of investment proposals for attracting foreign investments and loans, searching for potential foreign investors, bringing to them the necessary information on the projects proposed for implementation, as well as assisting business entities in processing the agreements reached with foreign investors and lenders.

On a monthly basis, the State Committee of the Republic of Uzbekistan on Investments shall submit to the Cabinet of Ministers information on the progress in implementing investment proposals included in a single database.

5. The Ministry of Finance of the Republic of Uzbekistan to establish systematic monitoring to ensure timely fulfillment by economic entities of obligations under the issued guarantees of the Republic of Uzbekistan and submit quarterly relevant information for decision-making to the Cabinet of Ministers.

6. The heads of industry complexes of the Cabinet of Ministers together with the Ministry of Economy of the Republic of Uzbekistan to establish strict control over the implementation of the approved network schedules for the implementation of investment projects involving foreign investments and loans, timely preparation and examination of pre-project documentation.

7. The Cabinet of Ministers of the Republic of Uzbekistan (Sh. Mirziyayev) regularly review monthly at the meetings of the Presidium the progress of the implementation of investment projects involving foreign investments and loans included in the Investment Program.

8. The Ministry of Justice of the Republic of Uzbekistan together with the interested ministries and departments within one month to submit proposals to the Cabinet of Ministers on amendments and addenda to the legislation arising from this resolution.

9. The control over the implementation of this resolution shall be assigned to the First Deputy Prime Minister of the Republic of Uzbekistan R.S. Azimov.

President of the Republic of Uzbekistan I. KARIMOV

Tashkent city,

July 24, 2008,

No. RP-927

APPENDIX No. 1 to the resolution of the President of the Republic of Uzbekistan dated July 24, 2008 No. RP-927

REGULATION

on the procedure for attracting and developing foreign investments and loans

I. General Provisions

1. This Regulation determines the procedure for attracting and developing foreign investments and loans, as well as the authority and mechanism of interaction during this process between the initiators of investment projects, the Ministry of Economy, the State Committee of the Republic of Uzbekistan for Investments (hereinafter — the State Committee for Investments), the Ministry of Finance of the Republic of Uzbekistan, and others interested ministries and departments, Information and analytical departments of the Cabinet of Ministers.

2. The following basic concepts are used in this Regulation:

project initiators — ministries, departments, state and economic management bodies — on projects proposed for implementation by business entities that are part of them, as well as large enterprises and business entities together with local government bodies — on projects proposed for implementation by business entities not included in the composition of ministries, departments, bodies of state and economic management;

investment proposal — a proposal for the implementation of a project developed by the initiator, involving the attraction of foreign investment and loans, in the form in accordance with appendixes No. 1 and 1a to these Regulations;

database — a single information database of promising investment offers, compiled by the State Ministry of Investment to attract foreign investment and loans based on proposals from the Ministry of Economy and the State Committee for Competition of the Republic of Uzbekistan;

development programs — medium-term targeted programs for the development, modernization, technical and technological re-equipment of enterprises in the economy and integrated development of the republic, including projects for the construction and reconstruction of industrial and social infrastructure and communications, projects for the introduction of modern energy-efficient and energy-saving technologies, technologies in the field of development of renewable energy sources in accordance with energy service agreements;

The Investment Program of the Republic of Uzbekistan (hereinafter referred to as the Investment Program) is a document approved by the decision of the Government, including targeted programs of investment projects implemented with foreign loans guaranteed by the Government and foreign direct investment and loans, as well as a Consolidated list of priority investment proposals (hereinafter — the consolidated list) for which search and selection of foreign investors and creditors is conducted;

IFEI — international financial and economic institutions that finance (co-finance) investment projects in the Republic of Uzbekistan;

FGFO — foreign government financial organizations that finance (co-finance) investment projects in the Republic of Uzbekistan;

pre-project documentation — documents justifying the feasibility and feasibility of a project, and an assessment of its effectiveness, including preliminary feasibility study / calculation (PFS / PFC), feasibility study / calculation (FS / FC), tender and tender documentation, report of the pre-assessment mission (consultants) of the IFEI and FGFO;

Managerʼs office — a ministry or department whose head is appointed in accordance with the established procedure by the manager of the IFEI from the Republic of Uzbekistan, which is the working body in the framework of cooperation with this organization.

3. The effect of this Regulation applies to investment projects proposed for financing by:

a) foreign direct investment;

b) foreign borrowed, credit and other funds raised on a repayable basis (hereinafter referred to as loans) by the Government or under the guarantee of the Republic of Uzbekistan;

c) foreign loans attracted without issuing guarantees of the Republic of Uzbekistan.

II. The main functions and powers of state bodies and initiators of investment projects

4. In order to ensure effective interaction in the process of attracting foreign investment and loans, to organize high-quality monitoring of the implementation of investment projects:

a) project initiators — ministries, departments, local government bodies, large enterprises and business entities carry out:

development of draft programs for the development, modernization, technical and technological renewal of production in the relevant industries and regions;

timely and high-quality preparation of investment proposals and documentation on initiated investment projects;

search and attraction of potential foreign investors and creditors to cooperation, organization and negotiation with them to discuss the conditions of the project;

selection of effective and most acceptable schemes for the implementation of projects and proposals of foreign investors and lenders;

execution, signing and implementation of agreements reached with foreign investors and creditors;

effective and timely implementation of projects and achievement of design parameters, targeted use of attracted foreign investments and loans, timely repayment of obligations on external borrowings;

providing in the prescribed manner to the Ministry of Economy of the Republic of Uzbekistan of the necessary documents to include investment proposals and projects in the Investment Program;

b) The Ministry of Economy of the Republic of Uzbekistan is the leading link and is responsible for coordinating the activities of all business entities, regardless of departmental subordination in the process of attracting and developing foreign investments and loans, and in accordance with this, it implements:

organizing and coordinating the development of development programs for individual sectors of the economy and regions, taking into account the balanced development of the country's economy, the effective use of natural, mineral and raw materials, production, scientific, technical and labor potential, as well as related infrastructure;

coordination of the work of ministries, departments, bodies of state and economic management in the formation of the Investment Program;

compilation of a list of investment proposals for subsequent consideration by the State Investments Committee on the issue of attracting foreign investors and creditors;

participation in the consideration of proposals of foreign investors and creditors;

the formation of a portfolio of investment proposals proposed for implementation with the participation of IFEI and FGFO;

monitoring and analysis of key indicators of development programs for industries and regions, making relevant proposals to the Cabinet of Ministers for their implementation;

monitoring of investment projects included in the address part of the Investment Program, identifying problematic issues during their implementation and making appropriate proposals to the Cabinet of Ministers;

coordination and monitoring of the construction and reconstruction of the external production infrastructure for specific investment projects;

monitoring the achievement of the indicators provided for in the feasibility study, after the commissioning of projects, the level of capacity utilization;

v) The State Investment Committee carries out:

formation and constant updating of a single database of investment proposals to attract foreign investment and loans;

communication to potential foreign investors and creditors of information on investment proposals proposed for implementation and timely provision of additional information to them;

synthesis and analysis of proposals of foreign investors and creditors;

coordination of negotiations with potential foreign investors and creditors to discuss the terms of the project;

rendering assistance and coordination of activities of state bodies and initiators of projects on attraction and development of foreign investments and loans, registration of reached agreements;

conclusion on behalf of the Government of an investment agreement with a foreign investor in cases established by law;

monitoring the opening of financing and timely fulfillment by foreign investors and creditors of their obligations, the development of foreign investment and loans;

monitoring the development and approval in the established manner of tender and contract documentation, the delivery of equipment and materials, and the performance of work and services;

conducting a system analysis and developing, together with interested ministries and departments, comprehensive measures aimed at improving the investment climate and enhancing the attraction of foreign investment in priority sectors of the economy;

g) The Ministry of Finance of the Republic of Uzbekistan carries out:

execution of financial agreements and issuance of guarantees on behalf of the Republic of Uzbekistan on the basis of relevant decisions of the Government;

ensuring timely and full co-financing of investment projects at the expense of the state budget and state trust funds;

participation in the consideration of proposals of foreign investors and creditors;

the optimal distribution of the volume of external borrowings attracted by the Republic of Uzbekistan on socially significant investment projects, based on the balance of the republican and local budgets;

timely fulfillment of obligations to pay interest, commissions and principal debt on state foreign borrowings, the repayment of which is provided for from the state budget and state extra-budgetary funds, as well as ensuring timely fulfillment of obligations on guarantees issued on behalf of the Republic of Uzbekistan, in the manner prescribed by law;

monitoring the progress of financing projects at the expense of the state budget and state extra-budgetary funds, as well as the use of funds raised on behalf of or under the guarantee of the Republic of Uzbekistan;

d) The Fund for Reconstruction and Development of the Republic of Uzbekistan (hereinafter - FRDUz) and commercial banks for investment projects financed with their participation, carry out:

participation in the consideration of proposals of foreign investors and creditors;

co-financing and refinancing of investment projects on the basis of signed loan agreements and investments in the authorized capital of project enterprises;

system monitoring and verification of strictly targeted use, as well as timely return of issued funds, consideration of their results, adoption of decisions and necessary measures to eliminate identified shortcomings;

e) The State Competition Committee of the Republic of Uzbekistan carries out:

submission to the State Investments Committee of the list of privatized state assets providing for the attraction of foreign investments in order to determine the circle of potential strategic investors and subsequent interaction with them;

providing the Ministry of Economy with the necessary documents to include proposals in the Investment Program;

dissemination of information on privatized objects, conditions for the sale of state assets and legislative norms to foreign investors, as well as regular distribution of materials to the Ministry of Foreign Affairs, the State Investments Committee and the Chamber of Commerce and Industry of the Republic of Uzbekistan for further distribution to potential investors;

making presentations on the Privatization Program and the largest privatized objects, providing for the attraction of foreign investment, as part of investment and business forums, round tables and negotiations in the Republic of Uzbekistan and abroad;

consideration of appeals of foreign investors on the proposed state assets for sale, preparation and submission of proposals in the prescribed manner on the conditions for the possible conclusion of transactions of purchase and sale of state assets;

control over timely fulfillment by foreign investors of obligations under concluded agreements, including investment obligations for objects included in the Privatization Program;

j) The Chamber of Commerce and Industry of the Republic of Uzbekistan carries out:

within the framework of the development of regional development programs, assistance to project initiators providing for the attraction of foreign investments and loans (loans) in the preparation of relevant investment proposals;

assistance to entrepreneurs in negotiations with potential investors and lenders, as well as the development of project documentation;

jointly with the State Committee for Investments organizing and conducting presentations of investment proposals and projects to potential foreign investors and creditors;

z) Information and analytical departments of the Cabinet of Ministers carry out:

conducting a comprehensive analysis and examination of the proposed projects of the Investment Program, sectoral development programs, modernization programs, technical and technological re-equipment of enterprises, a comprehensive assessment of the consequences of their implementation;

providing, on the proposal of the Ministry of Economy, the preparation of proposals for amendments and additions to the lists of investment projects included in sectoral development programs;

preparation of conclusions on the proposals of foreign investors and creditors, the selection of effective and most acceptable project implementation schemes;

coordination of the activities of ministries, departments and project initiators in developing network schedules for the implementation of investment projects and control over the timely preparation and examination of pre-project documentation;

comprehensive examination of draft decisions of the Government on specific investment projects;

coordination of the implementation of specific investment projects, as well as the construction and reconstruction of their external production infrastructure;

generalization and analysis of monitoring results, coordination of the implementation of industry development programs, as well as the development on their basis of proposals and measures for the unconditional achievement of the approved parameters;

ensuring a monthly review at the meetings of the Presidium of the Cabinet of Ministers of the implementation of projects involving foreign investment and loans included in the Investment Program;

i) The Information and Analytical Department for Investment, Innovative Development, Coordination of Activities of Free Economic and Small Industrial Zones, Tourism of the Cabinet of Ministers carries out:

conducting a comprehensive analysis and examination of the proposed projects of the Investment Program, development programs for industries and regions, including a comprehensive assessment of the possible consequences of their implementation;

preparation, together with the relevant information and analytical departments of the Cabinet of Ministers, of conclusions on the proposals of foreign investors and creditors, the selection of effective and most acceptable project implementation schemes;

coordination of the activities of information and analytical departments of the Cabinet of Ministers, ministries and departments identified by the working body-office of the manager, state authorities and local authorities to ensure timely preparation and implementation of investment projects, including those included in the Investment Program;

carrying out, together with the relevant information and analytical departments of the Cabinet of Ministers, a comprehensive examination of draft decisions of the Government on specific investment projects;

generalization and comprehensive analysis of the results of monitoring the implementation of the Investment Program, sectoral and territorial development programs, with the development on their basis of proposals and measures for the unconditional achievement of the approved parameters;

participation in the development and implementation of a set of measures to attract foreign investment, primarily direct, for the implementation of priority projects for the modernization of the economy, technical and technological re-equipment of production;

coordination of information support for potential investors on the investment climate in the Republic of Uzbekistan, including the main procedural issues of investment, as well as proposed investment volumes;

monitoring the conclusion and observance of the terms of investment agreements with foreign investors, timely opening of financing and the fulfillment of obligations by foreign investors and creditors;

consideration together with the structural units of the Cabinet of Ministers of the feasibility study (FS), financing schemes for particularly large and strategically important investment projects;

coordination of the development of cooperation programs with international financial and economic institutions and other investors on issues of attracting foreign investment and loans, as well as developing proposals for priority and promising areas of cooperation;

l) The Center for Comprehensive Expertise of Projects and Import Contracts under the Ministry of Economy and Industry of the Republic of Uzbekistan carries out a comprehensive examination of pre-project and project documentation developed within the framework of state development programs, as well as in public procurement;

III. Initiation of investment proposals and the formation of a database

5. Ministries and departments, state and economic management bodies, as well as local government bodies, develop programs for the development, modernization, technical and technological re-equipment of production in the relevant industries and regions of the republic.

6. The composition of the development programs under development includes a separate section of the list of investment projects proposed for implementation, including with the attraction of foreign investment and loans, in the form approved by the Ministry of Economy of the Republic of Uzbekistan.

7. Development programs are approved by the Cabinet of Ministers of the Republic of Uzbekistan on the proposal of the Ministry of Economy.

The Ministry of Economy within two weeks after the approval of the respective development programs or making changes and additions to the lists of investment projects included in the approved development programs, forms a list of investment proposals for further consideration by the State Investment Committee on the issue of attracting foreign investors and creditors.

8. The Ministry of Economy of the Republic of Uzbekistan includes in the consolidated part of the draft Investment Program investment proposals providing for the attraction of foreign investments and loans on behalf of or under the guarantee of the Republic of Uzbekistan, as well as investment proposals in the amount of more than 500 thousand US dollars, and makes it to the Cabinet of Ministers for approval in the established order.

9. The State Committee on Investments carries out, within three days after the submission of information, the formation and constant updating of the database on the basis of:

a list of investment proposals submitted by the Ministry of Economy;

the list of state assets included in state privatization programs and providing for the attraction of foreign investment submitted by the State Competition Committee.

10. For investment projects not included in the summary part of the Investment Program, sectoral and regional development programs, and involving the attraction of foreign investment and loans, the initiator of these projects makes investment proposals to the Ministry of Economy of the Republic of Uzbekistan.

11. The Ministry of Economy of the Republic of Uzbekistan, after conducting an examination within the established deadlines, sends the initiator of the investment proposal an appropriate conclusion on the feasibility of further elaboration of the issue of project implementation with an indication of the proposed deadlines.

12. Amendments and additions to the lists of investment projects included in the Investment program and development programs are carried out:

on programs for the development of industries - on the proposal of the Ministry of Economy, the head of the corresponding Cabinet of Ministers Complex in the prescribed manner;

on regional development programs - as agreed with the Ministry of Economy, Chairman of the Council of Ministers of the Republic of Karakalpakstan, khokims of the regions and the city of Tashkent;

according to the consolidated list of the Investment Program - according to the joint submission of the Ministry of Economy and the State Ministry of Investments, the Interdepartmental Council on cooperation with international financial institutions, organizations and donor countries, the implementation of large and strategically important investment projects under the Cabinet of Ministers of the Republic of Uzbekistan - on projects involving foreign investment and loans on behalf of the Government or under the guarantee of the Republic of Uzbekistan, as well as investment offers with amount over 500 thousand. USD.

After making changes and additions, the Ministry of Economy sends to the State Investment Committee an investment proposal for inclusion in the database.

13. Preparation by the initiator of pre-project documentation is carried out in cases provided for by law, as well as in the case of request for pre-project documentation by potential investors, as reported by the State Committee for Investments, the initiator, the Ministry of Economics and the corresponding Information and Analysis Department of the Cabinet of Ministers.

In this case, in cases stipulated by law, the relevant Information and Analysis Department of the Cabinet of Ministers sets deadlines for the development and submission of pre-project documentation to the authorized bodies for examination.

IV. Selection of a potential investor

14. The State Committee on Investments informs potential foreign investors and creditors of information on investment projects proposed for implementation by:

placement of the State Treasury of Investment proposals on the Internet;

distribution of investment offers to foreign companies and financial organizations;

presentations of investment proposals during organized investment and business forums, exhibitions, round tables, seminars and conferences in the Republic of Uzbekistan and abroad;

publication of relevant information on investment projects proposed for implementation in presentation materials and other information publications distributed among potential foreign investors during ongoing events and negotiations.

15. In case of interest on the part of potential foreign investors and creditors in the implementation of any specific investment project, the State Investments Committee provides the necessary assistance, in particular by:

informing about the existing regulatory framework for the implementation of investment projects in the Republic of Uzbekistan, about the benefits and preferences established by law for foreign investors and enterprises with foreign capital, the procedure and procedures for opening and functioning of enterprises with foreign capital;

informing about the availability of natural, mineral and raw materials, production, scientific, technical and labor resources, as well as the corresponding infrastructure, necessary for the implementation of the project;

establishing contacts between initiators and potential foreign investors and creditors;

organization of visits to the Republic of Uzbekistan, including visa support, preparation and coordination of the meeting schedule.

16. In the event that potential foreign investors and creditors apply directly to the initiators, to the relevant Information and Analytical Departments of the Cabinet of Ministers, the Chamber of Commerce and Industry, the State Committee for Competition, other ministries and departments, the received applications are sent to the State Investment Committee for generalization and analysis.

17. The State Investment Committee within a week sends the project initiator received proposals from potential investors and creditors for further elaboration.

18. For projects that meet the requirements of the Regulation on the procedure for the development, examination and approval of documentation of investment projects, approved by the Cabinet of Ministers of the Republic of Uzbekistan dated June 7, 2007 No. 110:

The State Ministry of Investment sends to the project initiator, to the Ministry of Economy, the Ministry of Finance and FRDUz (for projects co-financed by FRDUz funds) the proposals received from potential investors and creditors;

The State Ministry of Investment sends to the project initiator, to the Ministry of Economy, the Ministry of Finance and FRDUz (for projects co-financed by FRDUz funds) the proposals received from potential investors and creditors;

The Ministry of Economy, the Ministry of Finance, the State Investments Committee and FRDUz, within ten days, send to the initiator of the project conclusions on the advisability of further elaboration of the project with the proposed potential investors and creditors;

the project initiator submits to the Cabinet of Ministers his proposal and the conclusions of the ministries on the feasibility of further implementation of the project with the participation of a specific foreign investor and creditor;

the corresponding Information and Analytical Department of the Cabinet of Ministers in coordination with the Information and Analytical Department on investment, innovative development, coordination of activities of free economic and small industrial zones. of tourism on the basis of the documents submitted, prepares a joint opinion approved by the Deputy Prime Minister in charge of the relevant Information and Analytical Department of the Cabinet of Ministers.

19. Based on the proposals and conclusions received, the initiator of the project:

develops a network schedule for the implementation of the project, which is included in the consolidated list of the Investment Program, industry development program, coordinates it with the Ministry of Economy and the State Committee for Investments and submits for approval to the head of the relevant Complex of the Cabinet of Ministers;

develops a network schedule for the implementation of the project included in the regional development programs, and submits for approval to the Chairman of the Council of Ministers of the Republic of Karakalpakstan, khokims of the regions and the city of Tashkent;

takes measures for the further development of pre-project documentation and project implementation in accordance with the approved network schedule.

20. The development of pre-project documentation is provided by the project initiator in strict accordance with the approved network schedule. Examination and approval of pre-project documentation is carried out in the manner prescribed by law.

21. Information and analytical departments of the Cabinet of Ministers, the Council of Ministers of the Republic of Karakalpakstan, khokimiyats of the regions and the city of Tashkent together with the Ministry of Economy of the Republic of Uzbekistan coordinate the further implementation of the investment project in accordance with the approved network schedules.

V. Registration of agreements with foreign investors and creditors

22. Registration of agreements reached with foreign investors and creditors is carried out by concluding:

protocols of intentions and memoranda between the initiator and the foreign investor;

an investment agreement in the manner prescribed by law, including when providing a foreign investor with additional benefits and preferences;

agreements with foreign banks and financial institutions on attracting external borrowing;

documents on the establishment of enterprises with foreign investment and the acquisition by foreign investors of a share in the authorized capital (fund) of enterprises;

memoranda and other documents, taking into account the practice of cooperation of the Republic of Uzbekistan with IFEI and FGFO.

23. The State Committee on Investments coordinates the execution of agreements with foreign investors and creditors.

24. Decision-making on financing the project at the expense of the IFEI and FGFO, the conclusion of agreements with them on behalf of the Government or under the guarantee of the Republic of Uzbekistan is carried out in the manner prescribed by the Regulation on the procedure for the development, examination and approval of documentation of investment projects, approved by the Cabinet of Ministers of the Republic of Uzbekistan dated June 7, 2007 No. 110.

25. The Ministry of Finance of the Republic of Uzbekistan, on the basis of relevant decisions of the Government, draws up financial agreements concluded on behalf of the Government of the Republic of Uzbekistan and issued guarantees of the Republic of Uzbekistan.

26. The transfer of projects from the Consolidated List to the address part of the Investment Program is carried out in accordance with the established procedure by the Interdepartmental Council on issues of cooperation with international financial institutions, organizations and donor countries, implementation of large and strategically important investment projects under the Cabinet of Ministers of the Republic of Uzbekistan upon joint submission by the Ministry of Economy and Ministry of Foreign Economic Relations, Investments and Trade.

VI. Monitoring the progress of investment projects involving foreign investment and loans

27. Every year, when forming the Investment Program, the Ministry of Economy includes in the address part investment projects that provide for attracting foreign investments and loans on behalf of the Government or under the guarantee of the Republic of Uzbekistan, as well as investment proposals in the amount of over 500 thousand US dollars, according to which the pre-project documentation and agreements on financing projects with foreign investors and lenders.

28. Project initiators on a monthly basis submit information to the State Investments Committee and the Ministry of Economy on progress in the implementation of investment projects in accordance with the approved network schedules, indicating detailed information about the current state, existing issues and problems that impede the timely implementation of the investment project.

For projects financed by loans and borrowings of the IFEI and FGFO, attracted on behalf of the Government or guaranteed by the Republic of Uzbekistan, and co-financed from the state budget, commercial banks serving initiators on a quarterly basis provide information to the Ministry of Finance on the amount of borrowed funds accrued interest and commissions, accumulated funds to ensure timely repayment of loans and payment of interest and commissions for guaranteed government om loans, as well as on the implementation of other commitments made before MFEI IPFO and in accordance with the terms specified in the agreements.

29. During the preparation and implementation of investments, the State Investment Ministry, in accordance with the approved network schedules, monitors the progress of the implementation of investment proposals included in the database, including for:

timely development, examination in authorized bodies and approval in the prescribed manner of pre-project documentation;

execution and implementation of agreements reached with foreign investors and creditors;

opening financing and timely fulfillment by investors and creditors of their obligations, development of foreign investments and loans;

development and coordination in the established manner of tender and contract documentation, delivery of equipment (materials and services).

opening financing and timely fulfillment by investors and creditors of their obligations, development of foreign investments and loans;

development and coordination in the established manner of tender and contract documentation, delivery of equipment (materials and services).

In case of lagging behind the approved network schedules, the State Committee on Investments shall enter information indicating the reasons and proposals for eliminating the admitted lag. The Information and Analytical Department for Investment, Innovative Development, and Coordination of the Activities of Free Economic and Small Industrial Zones, Tourism, together with the relevant Information and Analytical Departments of the Cabinet of Ministers, takes measures aimed at solving the emerging problems.

31. After drawing up documents on the reached agreements with foreign investors and creditors, the State Investments Committee continues to monitor the project until the funds are fully utilized.

At the same time, the State Committee on Investments on a monthly basis provides the Ministry of Economy with information on the implementation of investment projects included in the address part of the Investment Program.

32. The Ministry of Finance of the Republic of Uzbekistan:

carries out accounting and monitoring of the development and timely fulfillment of obligations to pay interest, commissions and principal debt on state external borrowings, the repayment of which is provided for by the state budget and state extra-budgetary funds, as well as ensuring timely fulfillment of obligations on issued guarantees of the Republic of Uzbekistan, in the procedure prescribed by law, and quarterly submits relevant information to the Cabinet of Ministers;

submits to the Information and Analytical Department for Investment, Innovative Development, Coordination of Activities of Free Economic and Small Industrial Zones, Tourism of the Cabinet of Ministers in the established form, information on the volumes and geography of state external debt;

develops proposals on the marginal parameters of state external borrowing, improving the structure of public external debt and optimizing the costs of its servicing.

33. The Fund for Reconstruction and Development of the Republic of Uzbekistan for investment projects financed with its participation, carries out:

system monitoring and verification of strictly targeted and effective use, as well as timely return of funds issued by the Fund, consideration of their results, decision-making and necessary measures to eliminate identified shortcomings;

monitoring the activities of business entities on which investment projects are being implemented, in terms of fulfilling their obligations until the full repayment of the loan issued by the Fund.

On a monthly basis, FRDUz provides monitoring results to the Information and Analytical Department for Investment, Innovative Development, Coordination of Activities of Free Economic and Small Industrial Zones, and Tourism of the Cabinet of Ministers.

34. The State Competition Committee of the Republic of Uzbekistan on a monthly basis provides information to the State Investment Committee on monitoring the timely fulfillment by foreign investors of obligations under concluded agreements, including investment obligations for facilities included in the Privatization Program.

35. The Ministry of Economy of the Republic of Uzbekistan monitors:

implementation of programs for development, modernization, technical and technological re-equipment of enterprises in industries and regions, their results;

implementation of projects involving foreign investment and loans included in the address part of the Investment Program;

timely commissioning of facilities included in the Investment Program, and achievement of indicators provided for in the feasibility study of projects;

the progress of construction and reconstruction of the external production infrastructure for specific investment projects;

level of capacity utilization for completed investment projects as part of development, modernization, technical and technological re-equipment of enterprises in the industry.

The Ministry of Economy submits to the Information and Analytical Department for Investment, Innovative Development, Coordination of Activities of Free Economic and Small Industrial Zones, Tourism of the Cabinet of Ministers generalized monitoring results with the identification of problematic issues during the implementation of the address part of the Investment and Development Programs, as well as proposals and necessary measures to eliminate identified deficiencies.

36. Each month, to make the necessary decisions, the relevant Information and Analytical Department, together with the Information and Analytical Department on investment, innovative development, coordination of activities of free economic and small industrial zones. of tourism of the Cabinet of Ministers submits to the Presidium of the Cabinet of Ministers for consideration the generalized results of monitoring the implementation of investment projects involving foreign investment and loans.

APPENDIX No. 1 to the Regulation on the procedure for attracting and developing foreign investments and loans

Typical investment proposal form

1. Name of the project;

2. General information about the project initiator:

name and details;

main activity;

main economic and financial indicators (cost and volume of products (services) produced, export, turnover, etc.);

previously implemented projects, including those involving foreign investment and loans.

3. Information about the enterprise on the basis of which it is planned to implement the project (if it exists):

name of the company and its details;

main activity, types of products and services;

main economic and financial indicators for the last 3 years (cost of fixed assets, volume of manufactured products and exports, turnover, net profit, etc.);

common territory and free production facilities;

information on available engineering support facilities and infrastructure;

personnel potential.

energy saving potential and assessment of energy resource savings and other costs due to the introduction of modern energy efficient and energy-saving technologies;

the potential for updating fixed assets and increasing the capacity of energy facilities through the introduction of modern energy-efficient and energy-saving technologies.

4. Information about the project:

4.1. Marketing:

products proposed for production, forecast volume of production of goods and services;

marketing research results with an assessment of the possibility of domestic sales and exports;

main producers of similar products in the country and region;

assessment of the competitiveness of products in terms of quality and price indicators.

4.2. Production:

security of the project with raw materials and other material resources, with an assessment of the price, quantity and quality;

the characteristic of the technology proposed for installation and its main parameters (productivity, estimated cost, consumption of energy and material resources, etc.);

the number of required personnel, including engineers and workers.

4.3. Construction, reconstruction or modernization:

investment direction — new construction, reconstruction, technical re-equipment, including the implementation of measures to save energy and increase the efficiency of energy use, or another direction;

requirements for providing the facility with production infrastructure, length, capacity / capacity (road, railway line, water supply, sewage, heat supply, gas supply, electricity, heating).

4.4. Financing:

estimated cost of the project, including the cost of construction or reconstruction;

estimated date of commissioning of the facility, set in accordance with development programs;

project financing scheme proposed by the initiator.

5. Expected results from the project:

expected annual revenue and net profit;

export volume.

the expected amount of energy savings and other costs due to the introduction of modern energy-efficient and energy-saving technologies.

6. Status of development and examination of project documentation.

APPENDIX No. 1a to the Regulation on the procedure for attracting and developing foreign investments and loans

PASSPORT

of investment offer ________________________________________ (name and location of the project)

No‎ Name of indicators Unit of measurement Project options Note 1.‎ Total cost of the project, including: thousand dollars ‎ ‎ 1.1.‎ in national currency million soums ‎ ‎ 1.2.‎ in foreign currency thousand dollars ‎ ‎ 2.‎ Costs in foreign currency, total million soums ‎ ‎ 2.1.‎ including for the purchase of equipment thousand dollars ‎ ‎ 2.2.‎ for construction works thousand dollars ‎ ‎ 3.‎ Costs in national currency, total million soums ‎ ‎ 3.1.‎ including for the purchase of equipment million soums ‎ ‎ 3.2.‎ for construction works million soums ‎ ‎ 4.‎ Sources of financing: ‎ ‎ ‎ 4.1.‎ budget funds million soums ‎ ‎ 4.2.‎ foreign loans, total thousand dollars ‎ ‎ -‎ including under the guarantee of the Government thousand dollars ‎ ‎ 4.3.‎ foreign direct investment, total thousand dollars ‎ ‎ -‎ including contribution to the authorized capital thousand dollars ‎ ‎ 4.4.‎ own funds million soums ‎ ‎ 4.5.‎ loans from commercial banks million soums ‎ ‎ 4.6.‎ other sources (specify) million soums ‎ ‎ 5.‎ Estimated number of employees people‎ ‎ ‎ 5.1.‎ including newly created jobs people‎ ‎ ‎ 6.‎ Duration of construction, total month ‎ ‎ 6.1.‎ indicative start date month, year ‎ ‎ 6.2.‎ estimated date of putting the facility into operation month, year ‎ ‎ 7.‎ Project payback period, total years ‎ ‎ 8.‎ The annual volume of products, services in kind acc. units ‎ ‎ 8.1.‎ including for export acc. units ‎ ‎ 9.‎ Annual revenue from sales of products and services million soums ‎ ‎ -‎ including for export thousand dollars ‎ ‎ 10.‎ Estimated markets for products: ‎ ‎ ‎ 10.1.‎ domestic market share %‎ ‎ ‎ 10.2.‎ foreign market share %‎ ‎ ‎

APPENDIX No. 2 to the resolution of the President of the Republic of Uzbekistan dated July 24, 2008 No. RP-927

SCHEME

interaction of project initiators and government bodies in the process of attracting foreign investment and loans

I. Interaction at the stage of formation of the Investment Program Project initiators (ministries, departments, business associations, business entities, local authorities) 1. Development of draft programs for the development, modernization, technical and technological re-equipment of enterprises in industries and regions. 2. Timely and high-quality preparation of investment proposals and the necessary documentation for initiated investment projects. 3. Submission to the Ministry of Economy of the necessary documents for inclusion of investment projects in the Investment Program. State Competition Committee 1. Submission to the Ministry of Economy of the necessary documents for inclusion in the Investment Program of proposals for investment by a foreign investor in privatized objects, in accordance with the obligations assumed. 2. Submission to the State Investments Committee of the list of privatized objects and state assets, providing for the attraction of potential foreign investors. Ministry of Economy 1. Consideration of investment proposals of investors and the organization of the development of the Investment Program. 2. Formation of a portfolio of investment proposals proposed for implementation with the participation of the IFEI and FGFO. 3. Providing the State Committee for Investments with a list of proposals for attracting foreign investment and loans. 4. Submission of the Investment Program for approval by the Cabinet of Ministers. State Committee of the Republic of Uzbekistan for Investments (State Investment Committee) 1. Formation and constant updating of a single database of investment proposals to attract foreign investment and loans. 2. Assisting and coordinating the activities of government bodies and initiators of projects to attract and develop foreign investments and loans, and to draw up agreements reached. Information and Analytical Departments of the Cabinet of Ministers (CAD) 1 Conducting a comprehensive analysis and examination of the proposed projects of the Investment Program, sectoral development programs, modernization programs, technical and technological re-equipment of enterprises. 2. Coordination of the development of cooperation programs with the IFEI and FGFO in matters of attracting foreign investment and loans. Cabinet of Ministers Approval of the Investment Program, medium-term sectoral and regional programs for the development, modernization, technical and technological re-equipment of enterprises. II. Interaction at the stage of implementation of the Investment Program State Investment Committee 1. Bringing to potential foreign investors and creditors information on investment proposals proposed for implementation. 2. Summarizing and analyzing the proposals of foreign investors and creditors, sending them to the initiator, the Ministry of Economy, the Ministry of Finance, the Fund for Reconstruction and Development. 3. Conclusion on behalf of the Government of an investment agreement with a foreign investor in cases established by law. Project initiators 1. Registration and signing of agreements with foreign investors and creditors. 2. Development of a network schedule for the implementation of the project, coordination with the Ministry of Economy and the State Committee for Investments. 3. Ensuring effective and timely implementation of projects, targeted use of attracted foreign investments and loans, timely repayment of obligations on external borrowing. IAD Cabinet Approval of network project implementation schedules. State Competition Committee Consideration of foreign investors' appeals on proposed state assets for sale, preparation and submission of proposals according to the established procedure for the conditions for the possible conclusion of government assets purchase and sale transactions with investment obligations. Ministry of Finance Drawing up financial agreements on behalf of the Republic of Uzbekistan or issuing guarantees of the Republic of Uzbekistan on the basis of relevant decisions of the Government. Cabinet of Ministers Approval of the PFS / PFC and FSJER investment projects. III. Monitoring the implementation of projects involving foreign investment and loans Ministry of Economy Monitoring the implementation of projects included in the Investment Program, for the timely commissioning of facilities, achievement of feasibility studies and the level of capacity utilization for completed projects. State Competition Committee Monitoring of timely fulfillment by foreign investors of the accepted investment obligations under the concluded agreements. Ministry of Finance Keeping records and monitoring the development of funds raised on behalf of or under the guarantee of the Republic of Uzbekistan, timely fulfillment of obligations on guarantees issued on behalf of the Republic of Uzbekistan. State Investment Committee Monitoring of the opening of financing and timely fulfillment of obligations by foreign investors and creditors, development of foreign investments and loans. Cabinet of Ministers Monthly review at the meetings of the Presidium of the implementation of projects involving foreign investment and loans included in the Investment Program.