What will change from November 1?

Beginning November 1, 2024, several legislative changes will come into effect in Uzbekistan. QALAMPIR.UZ has summarized these updates below.

Refinancing rates for unsecured loans up to 100 million sums

As part of a program supporting small businesses, unsecured microloans up to 100 million sums will be refinanced for microcredit providers. Refinancing rates vary based on the region’s classification where businesses operate, as follows:

- Category 5: 12.5 percent
- Category 4: 13.5 percent
- Category 3: 14.5 percent
- Category 2: 17 percent
- Category 1: 18 percent

New labor rights compliance procedure

The State Labor Inspectorate and its regional divisions will now conduct inspections to ensure compliance with labor rights and protection legislation. A representative for the rights and legal interests of businesses will be notified at the start of each inspection.

New licensing requirements for commodity exchanges

Commodity exchanges seeking a license must meet these new criteria:

- An electronic stock trading system licensed under property rights
- Server equipment with at least 100 terabytes of memory and a separate data processing center
- Protection for the electronic stock trading system
- Software enabling fund transfers without human intervention as part of integration with the service bank

“From poverty to prosperity” program launched

The "From Poverty to Prosperity" program, based on the principle of "Seven Opportunities and Responsibilities for Poor Families," will launch to support families in need. Key aspects include:

- Involving leading entrepreneurs in each neighborhood, optimizing farmland use, and allocating an additional 50,000 hectares of arable land to low-income families
- Establishing patronage, childcare, and day-care services for those requiring care
- Expanding mortgage access, and constructing or renovating eco-friendly residential buildings

Enhanced control measures for jewelry sales

Selling foreign-made jewelry without documentation proving customs duty payments is now prohibited.

Scrap and waste of precious metals, as well as items plated with precious metals, are designated as special goods, requiring export licenses.

Additionally, exporting semi-finished jewelry products without approval from the State Inspection of Authenticity Level is forbidden outside Uzbekistan’s customs territory.

Withdrawal of old-style excise-branded alcohol and tobacco

The Tax and Customs Committees will begin identifying and seizing products marked with outdated excise stamps.

"Cleanest neighborhood" contest begins

From November through January, the "Cleanest Neighborhood" competition will be held at district, regional, and national levels. Fourteen winning neighborhoods will be awarded funds from the Ecology Fund to support projects like building waste collection sites, installing waste containers in community facilities, and tree planting. Additionally, each winner will receive an electric car for service use.

Energy efficiency of buildings assessed

A new classification system, with categories "A" through "G," will be introduced to assess the energy efficiency of buildings and structures over 200 square meters. Class "A" represents the highest energy efficiency, while class "G" indicates the lowest.