Baku, Azerbaijan, Aug. 19
By Fikret Dolukhanov – Trend:
The Tashkent City Administration has acquired the right to issue bonds to raise funds, Uzbek media reported referring to the decree of President of Uzbekistan Shavkat Mirziyoyev "On the legal experiment for the introduction of a special scheme of governance in the city of Tashkent".
President Mirziyoyev has allowed the head of administration of Tashkent city to attract free funds of population in a cost-effective investment projects approved or developed by the National Project Management Agency under the president of the Republic of Uzbekistan, through issuance of securities in the form of bonds or shares of newly established business entities.
The Ministry of Finance and the Center for Coordination and Development of Securities Market under the State Committee of the Republic of Uzbekistan for assistance to privatized enterprises and development of competition were instructed to assist the head of the capital city administration in the implementation of the issue of securities.
Earlier it was reported that an experiment will be implemented in the capital of Uzbekistan within one year (until August 15, 2019) to improve the investment climate, according to which the decisions on many issues will be taken by the capital city administration.
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