The procedure for licensing the activities of payment system operators and payment organizations has been approved in Uzbekistan

The Central Bank of the Republic of Uzbekistan adopted the Resolution “On approval of the regulation on the procedure for licensing the activities of payment system operators and payment organizations” reg. No. 3431 dated May 5, 2023 (the “Resolution No. 3431”).

Belarus has modified the conditions for regulating consumer goods prices

Since October 2022, Government Resolution No. 713, which sets out the measures to regulate prices, has been in force in Belarus. Price restrictions affect producers, importers and sellers of goods on the Belarusian market. The list of regulated consumer goods includes 330 items, including food, clothes, electrical goods, cars and spare parts, construction materials.

The main changes in the financial legislation of Kazakhstan in January - May 2023

At the beginning of the 2023, the process of making important amendments to the financial legislation of Kazakhstan continued.

For the first time in the history of Kazakhstan, the law on digital assets was adopted, aimed at creating a legal framework for the development of activity for the issuance and turnover of digital assets and digital mining in the Republic of Kazakhstan. In addition, for the first time, amendments were made to the legislation of Kazakhstan, according to which, if the creditor (creditors) are unable to satisfy the claims of an individual who is not an individual entrepreneur, procedures for restoring solvency, extrajudicial or judicial bankruptcy are applied.

Implementation of personal data holders registration mechanism in Kyrgyzstan

In accordance with the Article 30 of the Law of the Kyrgyz Republic “On Personal Information” dated 14 April 2008 No. 58 the arrays of personal data and the holders (owners) of these arrays are subject to mandatory registration. According to the State Personal Data Protection Agency all legal entities registered in the Kyrgyz Republic, regardless of their form of ownership, should undergo a registration procedure in the Register of Personal Data holders (owners) by June 10, 2023.

Tax regime for investors in Turkiye

For foreign investors, Türkiye has always been a desirable country, ripe for lucrative investments in its industry, agriculture, real – estate and technology and textile markets. These bountiful markets to invest, combined with the competitive currency exchange rates allow more investors to invest in Türkiye, especially in energy, petrochemicals, banking and real – estate markets.

The Strategy for International Cooperation of the Youth of Turkmenistan for 2023-2030 was approved

This year of the era of the Revival of a new epoch of a powerful state, held under the motto «Happy youth with Arkadag Serdar», large-scale work is being carried out in the name of a bright future for Turkmen youth.

For the successful implementation of the main goals, objectives, principles and main directions of the Law of Turkmenistan «On State Youth Policy», further promotion of the state youth policy, education of young people in the spirit of patriotism, humanism and diligence, the formation of spiritual and moral values and the principles of a healthy lifestyle, the State Program in the field of the state youth policy of Turkmenistan for 2021-2025 and the Action Plan for its implementation were approved, within the framework of which large-scale systemic measures are being taken.

Doing Business In UAE

In accordance with the Resolution of the President of the Republic of Uzbekistan dated April 4, 2023 No ПП-110 "On additional measures aimed at providing the population with high-quality consumer goods" (the "Resolution ПП-110") control over the quality of consumer goods is strengthened and a number of changes and innovations have been introduced.

Uzbekistan takes measures for expanding access to digital services and digital transformation

In order to ensure convenient access to digital services for the population and entrepreneurs, improve the business environment, and reduce administrative procedures, the President of the Republic of Uzbekistan has enacted the Resolution “On measures for expanding the coverage and enhancing the quality of digital services, as well as digital transformation in sectors, industries, and regions” No. ПП-162 dated May 24, 2023, (the “Resolution No. ПП-162”).