The Advisory Council for the Development of the Capital Market was established by the National Agency of Perspective Projects (NAPP) of the Republic of Uzbekistan following the Director's order on September 13.
The Council's primary purpose is to discuss the latest trends and issues related to the capital market, facilitate communication between professional participants and the authorized body, and evaluate expert proposals and draft regulatory acts in this field.
In addition, the Council will provide recommendations for developing the capital market, assess the current legislation, and research best practices in foreign countries.
The Council will also suggest ways to enhance the legislative framework and bring in highly skilled consultants.
In early September, Shavkat Mirziyoyev passed a law amendment giving the National Agency of Perspective Projects (NAPP) the right to set the amount of the fee for permits for activities in the sphere of crypto-assets.
Uzbekistan has implemented numerous measures to enhance the development of its capital market. The government has introduced new laws and regulations, such as the Securities Market Law, to promote a transparent and efficient market. Besides, the government has made substantial investments towards improving the market's infrastructure, including establishing a Central Securities Depository and electronic trading platforms.
Uzbekistan has adopted a relaxed stance towards foreign investment by easing restrictions on foreign ownership of securities and offering tax incentives to boost the market's growth further. The government has also advocated for improved corporate governance practices among companies operating within the market to enhance transparency and accountability.
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