ТASHKENT, February 5. /Dunyo IA/.   An expanded meeting of the Working Group of the Foreign Investors Council under the President of the Republic of Uzbekistan was held in Tashkent, reports Dunyo IA correspondent.

According to the Ministry of Investments, Industry and Trade of Uzbekistan (MIIT), the key focus of the meeting was the development of the draft Law “On Alternative Investment Funds,” aimed at establishing a modern legal framework for venture capital and private equity. The discussion brought together representatives of venture funds, business angels, international financial institutions, global companies - members of the Council, deputies of the Legislative Chamber of the Oliy Majlis and senior officials from relevant ministries.

The draft law is being developed by the Ministry of Investments, Industry, and Trade (MIIT) in collaboration with the International Finance Corporation (IFC), with the participation of several specialized companies and international experts. It introduces the concepts of private equity, venture funds, and business angels, establishes widely recognized structures and instruments, and provides for the principle of “pass-through” taxation.

Experts believe that the adoption of the law will send an important signal to the global investment community regarding Uzbekistan’s readiness to develop the alternative investment market and support innovative businesses.