An investment company “Direct Investment Fund of the Republic of Uzbekistan” LLC is being created

The Decree of the President “On measures to improve the activities of the Direct Investment Fund of the Republic of Uzbekistan” was adopted.

According to the document, “Management Company of the Direct Investment Fund of the Republic of Uzbekistan” JSC will begin its activities as an investment company “Direct Investment Fund of the Republic of Uzbekistan” in the form of LLC.

The initial authorized capital of the company will be $100 million at the expense of the FRRU. In the future, it will increase and will be gradually increased to $1 billion.

At the same time, the Investment Company is tasked with attracting additional investments in the amount of $200 million from partner investors in 2022-2023, through:

• obtaining a credit (loan) and attracting funds from investors in the authorized capital;
• creation of legal entities or equity participation in their authorized funds (authorized capital), including participation through the acquisition of property;
• establishing cooperation with large institutional and strategic investors, including using the jurisdictions of reputable international financial centers.

The investment company will have the opportunity to participate up to 49% in the authorized capital and the total cost of the project (previously it was up to 30%).

The selection and financing of investment projects will be carried out by the company independently, taking into account the criteria and requirements established in the investment policy, as well as based on the financial attractiveness and effectiveness of these projects.

The Decree grants the Investment Company the right to freely sell its property, share and shares in the authorized capital of economic entities on its own without applying the legal procedures established for privatization.