Senators approve amendments to the Economic Procedural Code

Tashkent, Uzbekistan (UzDaily.com) -- Senators approved the Law of the Republic of Uzbekistan “On introducing amendments and addenda to the Economic Procedural Code of the Republic of Uzbekistan”.

In accordance with the Resolution of the President of the Republic of Uzbekistan dated February 5, 2019 “On additional measures to improve the rating of the Republic of Uzbekistan in the annual report the Doing Business of the World Bank and International Finance Corporation”, the Economic Procedural Code is amended to introduce an order allowing to conduct a pre-trial hearing in Economic Court as a method of resolving disputes, establishing the maximum number of deposits of proceedings (3 times), including the maximum period proceedings suspension (10 days) and interruptions (3 times) for Economic Affairs, as well as the definition of cases where the deposition proceedings or breaks will be permitted only on the grounds of unforeseen and extraordinary circumstances.

It was noted that the adoption of the law will ensure the earliest possible introduction in the country of the conditions stipulated by the Doing Business indicators and, ultimately, the further formation of a favorable investment environment and an increase in the position of Uzbekistan in the same rating. Senators approved the law.