NITN | @notintownlive | 09 Jun 2018
New Delhi, June 8 (NITN) Now the time is right to invest in Uzbekistan because the business climate is changing, the economy is gaining momentum, which makes doing business easier, the country's embassy in India said.
Before, Uzbekistan was associated with strict control of the foreign currency outflows, it is not the case anymore. In September 2017, Uzbekistan liberalized foreign exchange system, which will facilitate doing business and foreign direct investment inflow, it said.
Before, exporters were obliged to sell part of their revenues to the government at a very low rate set by the Central Bank. This requirement was scrapped. Everyone can spend his money as he wants, said a release.
The exchange rates are now regulated exclusively by the market mechanisms. In the past, repatriation of profits and purchases of foreign currency were limited. Now foreign investors can buy as much currency as needed at the free exchange rate.
About 160 licensing and 19 bureaucratic procedures have been dropped. With its 19 million people strong labour force, Uzbekistan is the largest country in the region, and it is a stable country, both politically and economically.
Uzbekistan has an attractive macroeconomic situation: external debt not exceeding 18% of GDP, and with no domestic debt.
"Uzbekistan is very serious about securing the rights of investors. More than 5,000 companies with foreign capital operate in Uzbekistan. About 50 of the world's leading brands have invested in the country," it said in the release.
- Book review: Amidst the Whirlwind is about relationships and resulting complications
- Book Review: Unfinished - A Woman's Tryst with Destiny
- Uzbekistan Airways to start Mumbai-Tashkent direct flights from Oct end
- Crytsal Logistics Cool Chain Ltd opens warehouse facility in Howrah
- Festival feasts at Pour House and Cafe 4/1
- Adventure tourism in India holds a lot of prospect as a job opportunity says Priya Entertianment MD Arijit Dutta
- Author Sreejib explores dichotomy of the human mind in her first book ‘Aqson Level 1’
- Prabha Khaitan Foundation and British Council sign collaboration on arts
- Manicktalla Chaltabagan Puja’s theme pitches Kolkata for UNESCO's “City of Literature” honour
- Priya Entertainments Pvt Ltd offering special holiday packages for tourists to stay in Khairabera Eco Adventure Resorts and also inviting travelers to visit their latest hospitality venture Priya Villa at Shantiniketan
Mumbai, Sept 3 (NITN) Etihad Airways, the national airline of the United Arab Emirates, has announced a special offer for passengers flying from India to the United States and Europe via its hub, Abu Dhabi.
Sydney: If you are planning a holiday in Australia from India, then this is the time as the air-tickets are available at unbeatable prices.
Cologne, Mar 17 (NITN): Deutsche Lufthansa AG, the largest German airline, is offering special sale to all travelers to fly off to and travel in Europe and North America at cheap prices.