Uzbekistan simplifies creation of joint ventures

TASHKENT -- Uzbek President Shavkat Mirziyoyev Wednesday (August 1) signed a decree reducing barriers for forming joint ventures, Fergana News reported Thursday (August 2), citing the decree.

Measures include cutting the minimum percentage of foreign investments in a venture's charter capital from 30% to 15%, as well as reducing the minimum size of a joint venture's charter fund from 600 million UZS ($770,000) to 400 million UZS ($510,000).

The decree did not state when those reforms take effect.

The changes are part of an effort to improve Uzbekistan's investment climate and attract direct investment.