Uzbek Deputies Pass Bill to Boost Investment and Dual Education

Tashkent, Uzbekistan (UzDaily.uz) — The Legislative Chamber of the Oliy Majlis reviewed and adopted in the second reading a draft law "On Amending and Supplementing Certain Legislative Acts of the Republic of Uzbekistan," which aims to increase the investment attractiveness of the country and improve the dual education system.

During the discussion, it was noted that the document provides for measures to stimulate investments by foreign citizens into the economy of Uzbekistan, create favorable conditions to attract foreign direct investment, and further develop the dual education system.

According to deputies, the proposed changes in tax administration, including the introduction of a special tax regime for foreign citizens, will exempt income received by them outside the Republic of Uzbekistan from taxation.

These measures are expected to contribute to the formation of a more attractive investment climate for foreign investors.

In addition, the bill provides for a reduction of the social tax rate from 12 to 6 percent until 1 January 2030 for employees enrolled in dual education programs at industrial enterprises.

This measure is expected to facilitate the training of qualified personnel demanded in the national economy.

Following the review, the deputies adopted the draft law and forwarded it to the Senate.