Kosta Legal | Uzbekistan

On November 8, the Fourth Interim Session of the Foreign Investors Council (FIC) was held in Tashkent, where our partner Azizbek Akhmadjonov presented a draft Regulation on the Procedure for Reservation of Lands for Public Needs. Azizbek and our land and real estate team worked closely with the FIC, the Ministry of Investments, Industry, and Trade, and EBRD to develop the Regulation, which, among other things, aims to address various issues related to the allotment of land for implementing infrastructural public-private partnership (PPP) and investment projects. The Regulation will protect the rights of landholders and users, as well as affected third parties, by ensuring early notification of land reservations, guarantee the allocation of chosen land plots to investors, and enhance interdepartmental coordination among public authorities to prevent land reallocation during project development. Relying on its extensive experience in advising on complex land matters at all stages of PPP and investment project development, the team led by Azizbek helped the government to identify key issues in the land allocation process and offered tailored, investor-friendly solutions. #KostaLegal #Uzbekistan #FIC #InvestInUzbekistan

Kosta Legal attends the European Economic Days in Uzbekistan taking place in Tashkent. The annual forum offers a unique platform for dialogue between European and Uzbek business leaders, policymakers, and legal professionals. We look forward to engaging with industry experts and exploring exciting opportunities in Uzbekistan's dynamic market. #KostaLegal #Uzbekistan

It is a great pleasure to assist Voltalia with this and other renewable energy projects in Uzbekistan. Our sincere congratulations to the entire team on reaching this important milestone.

Our team led by partner Nail Hassanov and supported by senior associate Jakhongir Olimjonov has worked alongside the Dubai office of Norton Rose Fulbright in advising the IFC on a $240 million Islamic Equity Bridge Loan financing for ACWA Power to support the development of Uzbekistan's renewable energy sector. The financing will cover the construction and operation of two projects, a 1 GW solar PV plant and a 668 MW BESS, along with around 500 km of high-voltage transmission lines, generating approximately 2,400 GWh of electricity annually after commissioning. We are honored to have advised on this transaction in support of Uzbekistan’s clean energy goals and IFC’s commitment to tackling climate change. Congratulations to all parties involved in this impactful project! #KostaLegal #Uzbekistan

Check out our legal newsletter covering significant legal developments in Uzbekistan for September 2024. Highlights include the adoption of a Law liberalizing specific competition law requirements, a new Presidential Decree aimed at better land use for investment purposes, a Presidential Resolution for the gradual implementation of public health insurance nationwide by 1 October 2026, and two Resolutions from the Cabinet of Ministers focused on the development of tourism. For more details and to download the PDF, visit our website here: https://lnkd.in/d8k5gUdP To stay updated with our monthly newsletter, you can subscribe here: https://lnkd.in/dfVjMcB8 #KostaLegal #Uzbekistan #MonthlyNewsletter

Our partner Nail Hassanov participates in the 2024 #AIIBannualmeeting taking place in Samarkand. This year theme ‘Building Resilient Infrastructure for All’ focuses on infrastructure development in Asia and other regions. ‘New Uzbekistan - Big Country with Big Opportunities’ is one of the most exciting sessions on this year’s agenda. AIIB is a multilateral development bank focused on developing Asia. The total value of the Bank's projects in Uzbekistan exceeds USD 3 billion. #Uzbekistan #AIIB #KostaLegal #Infrastructure

Our legal newsletter for August 2024. August brought several significant legal developments. Notably, the new Laws "On the Electric Energy Industry" and "On Saving Energy, Its Rational Use, and Energy Efficiency" establish a new framework for the energy market, building on the previous Concept for the Gradual Transition to Retail and Wholesale Energy Markets. This aims to attract private investment and foster competition in the previously state-dominated sector. Other key changes include the Law "On Recognition of Rights over Illegally Occupied Lands," new public-private partnership measures, and the creation of the National Investment Fund to manage shares in state-owned enterprises. Additionally, initiatives to develop the factoring services market were implemented and the Singapore Treaty on the Law of Trademarks of 2006 was ratified. To stay updated with our monthly newsletter, you can subscribe here: https://lnkd.in/dfVjMcB8 #KostaLegal #Uzbekistan #MonthlyNewsletter

In line with Uzbekistan’s strategy to attract at least USD 30 billion in private investments into PPP projects by 2030, the President has issued a Decree outlining a strategic roadmap for developing PPPs in the country. Please refer to the overview prepared by our lawyers for a summary of the most significant developments in the PPP regulatory framework introduced by the Decree, as well as a list of the PPP projects to be implemented across various sectors. #Uzbekistan #PPP #Uzbekistan2030 #KostaLegal

In July 2024, significant legal developments in Uzbekistan included changes to the rules for public procurement, new regulations for the use of main power transmission lines, reforms in hydropower, measures to facilitate the development of the jewellery production and tourism sectors, and new regulations on the provision of Islamic finance services by microfinance organizations. To stay updated with our monthly newsletter, you can subscribe here: https://lnkd.in/dfVjMcB8

Our legal newsletter for June 2024. Some of the most important legal developments in Uzbekistan in June included a Presidential Decree on harmonizing national legislation with WTO rules, the adoption of the Law “On Conflict of Interest,” a new tariff policy for energy markets, and Uzbekistan's accession to the Geneva Act of the Hague Convention of 1999 and the Rome Convention of 1961. To stay updated with our monthly newsletter, you can subscribe at: https://lnkd.in/dfVjMcB8