On June 18, at a meeting of the Foreign Investors Council under the President of Uzbekistan, companies including Vision Invest, Voltalia, Veolia, Coca-Cola, and Crowe Capital proposed measures to improve the investment climate.
The proposals include adopting a law on alternative investment funds, reducing administrative procedures for renewable energy projects, introducing a special tax regime for public-private partnerships, establishing an ESG working group, and updating the National Corporate Governance Code.
Omar Al-Midani, President and CEO of Vision Invest, proposed developing alternative investment funds. He noted that globally such funds pool capital from professional investors to finance private companies. The proposed draft law introduces internationally recognized structures such as GP-LP partnerships.
Robert Klein, CEO of Voltalia, said the company has been operating in Uzbekistan since 2022 and is implementing renewable energy projects. He highlighted remaining administrative barriers for investors and proposed simplifying existing procedures.
Sebastien Daziano, Senior Executive Vice President for Strategy, Innovation and Multilateral Efficiency at Veolia, noted that reforms in Uzbekistan have demonstrated the effectiveness of public-private partnerships. He proposed approving a separate tax regime for PPP projects.
President Shavkat Mirziyoyev, commenting on the Veolia representative's speech, emphasized that the company's proposals apply not only to it but to all investors, and instructed that relevant proposals be incorporated into the Tax Code.
Claudia Lorenzo, President of Coca-Cola for Eurasia and the Middle East, put forward proposals on sustainable development, ESG, and circular economy. She said the company's investments in Uzbekistan's economy amount to about $500 million.
Filipa Correia, Executive Director for Europe, Middle East and Africa at Crowe Capital, stressed the need to develop corporate governance, particularly updating the National Corporate Governance Code.
Source: www.gazeta.uz