Uzbekistan’s President Shavkat Mirziyoyev on September 2 approved a package of measures for the development of the country's capital market.
The Ministry of Finance has been instructed to draw up a bill aimed at stimulating investment in the country's stock market.
One measure extends until the end of 2028 benefits introduced for investors in January 2022. Those benefits include personal income tax exemptions on dividends paid to individuals on shares and interest paid to individuals on bonds.
Tax exemptions also apply to income sent to a personal investment account for the purchase of securities on the local stock market.
Citizens, meanwhile, are to be allowed to buy securities on the local market at the expense of their voluntary accumulative pension contributions. The income received can be managed independently even before retirement.
Employees of enterprises are to receive a preferential right to purchase shares when they are publicly placed as part of their employee share ownership plan (ESOP).
In addition, the National Agency for Promising Projects (NAPP) has been appointed as the regulator of the capital market. It will also manage the licensing of the insurance industry and the organising of securities trading.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Iran pushes farm-trade pivot to EEU as US blockade squeezes Gulf ports
The Islamic Republic of Iran wants to widen agricultural trade and joint investment with Eurasian Economic Union (EEU) states, a deputy agriculture minister told the bloc's farm-policy council ... more
Eurasian Development Bank receives first-time Ag credit rating from CCXAP
The Eurasian Development Bank (EDB) has received a first-time long-term credit rating of 'Ag' from Hong Kong-based China Chengxin Credit Ratings Company (CCXAP), with a stable ... more
Uzbekistan's Mirziyoyev heads to Minsk as Lukashenko widens his diplomatic circle
Shavkat Mirziyoyev, Uzbekistan's president, began a two-day official visit to Belarus on July 7 at the invitation of Alexander Lukashenko, in the latest sign of Minsk's push to broaden its ... more