TASHKENT (TCA) — Foreign investors in Uzbekistan now have the right to buy up to five percent of the shares in Uzbek commercial banks without prior consent of the country’s central bank, Xinhua news agency reported with reference to the Uzbek Justice Ministry.
The ministry said on September 9 that this has become possible following the decree of the Cabinet of Ministers that simplified the procedures for buying shares of the Uzbek banks by foreign investors.
The move will benefit the investment climate and remove bureaucratic restrictions for foreign investors, the Uzbek Agency for the Development of the Capital Market said.
Uzbekistan has been carrying out economic reforms for the past two years to make the country attractive to foreign investors.
