Extension of Support to the Secretariat of the Foreign Investors Council in Uzbekistan

Overview
Project Summary Document

TCRS 144775

Status Approved

Location

Uzbekistan

Business Sector

Corporate news

Notice Type

Public

PSD Disclosed

10 Jul 2024

Project Description

The EBRD’s Investment Climate and Governance Initiative (ICGI) was launched in 2014 to enhance the Bank’s support for improvements to the investment climate and governance in its countries of operations. In several of its countries of operation, EBRD has supported the establishment of Investment Councils where policymakers and businesses can come together to discuss investment climate-related challenges and reforms in a systematic, structured and results-oriented fashion. The EBRD also helps establish the Secretariats for the Investment Councils that provide organisational, analytical and professional support to the meetings and operations of the Investment Council. For almost a decade the Bank has built professional secretariats for these platforms in several of its countries of operation, namely, Moldova, Armenia, Kyrgyz Republic, Georgia, and Ukraine. On October 8, 2018, the State Committee on Investments of the Republic of Uzbekistan (SCI) and the EBRD signed Memorandum of Understanding on Cooperation in Support of the Foreign Investors Council of Uzbekistan (FIC).

On 13 November 2019, the President of Uzbekistan issued a decree establishing the Council. The FIC is an institutional, inclusive and structured platform to promote direct dialogue between the Government of Uzbekistan and foreign investors, with coordination by the Ministry of Investment, Industry and Trade (successor of the SCI) and EBRD, in order to efficiently address key issues related to investment activities of investors, the economic development of the country. The FIC Secretariat submits proposals that have been formed during discussions in the FIC working groups and formal sessions, to the President and the Government for approval. The EBRD President co-chairs Plenary sessions which provide the highest level public-private dialogue for improving the investment climate of Uzbekistan, coordination policy reforms with different development partners and stakeholders. The purpose of the FIC and functions of its Secretariat are:

to promote constructive dialogue between the Government and private sector on the necessary steps to address the most pressing issues for the development of the private sector, improve the business environment and foster investment, in particular foreign;
to identify the main impediments preventing attraction of investments in different sectors of the economy and to propose intervention measures with efficiency and maximum impact for the improvement of business environment and conducive investment climate;
to suggest and review proposals for relevant changes to the legislative and regulatory framework regarding the above;
to develop recommendations, including in the form of drafts of relevant resolutions and decrees with supporting assessment reports for the review by the Government and suitable in form for the Government’s internal process;
to facilitate the exchange of experience and best practices in regulatory reform from other countries to facilitate fostering objectives of the FIC. Since its set up many policy proposals were pushed through the FIC platform - regulation changes, new laws and other policy initiatives. The latest second FIC Plenary session on May 3, 2024 session was rich in content.

Ahead of the meeting, the FIC Secretariat identified 63 high-quality policy proposals in consultation with consultancy companies and law firms closely involved with foreign investors. These proposals were then distilled with the government into 17 substantive policy recommendations with the remainder to be discussed in the Working Groups until the next Council meeting. Aimed at further improving Uzbekistan’s investment climate, the 17 policy proposals were then raised by the FIC Members (including TBC Bank, Suez, Masdar, Silverleafe and others) during the event, following which a Presidential Decree #179 was signed converting those proposals into exact actions.

The scope of services of this TC Project is to support the establishment and operation of the Secretariat (‘Secretariat’) of the FIC of Uzbekistan by providing funding for consultants and some of the expenses. The Secretariat will support the establishment and functioning of the FIC. The Terms of Reference detail the structure, performance objectives and activities to be performed by the Secretariat.

The EBRD-funded Secretariat of the FIC will organize the structured and regular meetings of the FIC, provide analytical support to identify issues, and propose solutions to be discussed by the members of the FIC for approval.

The TC Project shall be implemented by the Secretariat team of six consultants (the “Consultants”) as follows:

Head of Secretariat (In 2024 new head of FIC will be recruited)
Deputy Head
Two Programme Coordinators
IT/PR Expert
Administrative and Financial Assistant

The Secretariat shall maintain strong relations with foreign investors, donors and government stakeholders and will be fully accessible to all foreign investors operating in Uzbekistan irrespective of size and nationality.
The main functions of the Secretariat are:

Identify key impediments to domestic and foreign investments for consideration by the FIC;
Identify upcoming pieces of legislation related to investment and business climate and stimulate preparation of comments from public and private sector in the context of the regular FIC meetings;
Conduct research on relevant issues within its competence and issue reports to the FIC on its findings;
Steer the preparation of the annual work plan of the FIC in coordination with the Chair and the permanent members;
Develop the agenda for the meetings of the FIC, drawing as appropriate on proposals from members and the business community;
Support and coordinate the activities of the Working Groups of the Foreign Investment Council;
Invite non-permanent members to attend the FIC meetings on an as-needed basis;
Assist the FIC in discussion and review of sector-specific cases, legislation and administrative procedures and practices which are brought to the attention of the FIC;
Prepare detailed minutes and reports on FIC discussions;
Provide to the Chair and Council members summary views and recommendations on the topics of the Foreign Investment Council’s agenda in order to ensure high quality of decisions made within the Council;
Steer the Foreign Investment Council’s decisions implementation process, monitor/evaluate the results and assesses their impact and effectiveness on the business environment;
Report to the members of the Foreign Investment Council, and to other stakeholders, on the progress made;
Maintain close communication with the members of the Foreign Investment Council with the state institutions, business community and civil society;
In collaboration with the press service of the Government, inform the public about the activity of the Foreign Investment Council.

***Extension 2024-2025
The purpose of the project remains unchanged from the original design. FIC will continue to serve as a platform for institutionalized, transparent dialogue between the public and private sectors, sufficiently skilled and flexible to respond to emerging priorities. Copy from TCRS Record: “Rationale” and “TC Services”.

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

Enquiries

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

TCRS 144775

Status Approved

Location

Uzbekistan

Business Sector

Corporate news

Notice Type

Public

PSD Disclosed

10 Jul 2024

Project Description

to promote constructive dialogue between the Government and private sector on the necessary steps to address the most pressing issues for the development of the private sector, improve the business environment and foster investment, in particular foreign;
to identify the main impediments preventing attraction of investments in different sectors of the economy and to propose intervention measures with efficiency and maximum impact for the improvement of business environment and conducive investment climate;
to suggest and review proposals for relevant changes to the legislative and regulatory framework regarding the above;
to develop recommendations, including in the form of drafts of relevant resolutions and decrees with supporting assessment reports for the review by the Government and suitable in form for the Government’s internal process;
to facilitate the exchange of experience and best practices in regulatory reform from other countries to facilitate fostering objectives of the FIC. Since its set up many policy proposals were pushed through the FIC platform - regulation changes, new laws and other policy initiatives. The latest second FIC Plenary session on May 3, 2024 session was rich in content.

The TC Project shall be implemented by the Secretariat team of six consultants (the “Consultants”) as follows:

Head of Secretariat (In 2024 new head of FIC will be recruited)
Deputy Head
Two Programme Coordinators
IT/PR Expert
Administrative and Financial Assistant

Identify key impediments to domestic and foreign investments for consideration by the FIC;
Identify upcoming pieces of legislation related to investment and business climate and stimulate preparation of comments from public and private sector in the context of the regular FIC meetings;
Conduct research on relevant issues within its competence and issue reports to the FIC on its findings;
Steer the preparation of the annual work plan of the FIC in coordination with the Chair and the permanent members;
Develop the agenda for the meetings of the FIC, drawing as appropriate on proposals from members and the business community;
Support and coordinate the activities of the Working Groups of the Foreign Investment Council;
Invite non-permanent members to attend the FIC meetings on an as-needed basis;
Assist the FIC in discussion and review of sector-specific cases, legislation and administrative procedures and practices which are brought to the attention of the FIC;
Prepare detailed minutes and reports on FIC discussions;
Provide to the Chair and Council members summary views and recommendations on the topics of the Foreign Investment Council’s agenda in order to ensure high quality of decisions made within the Council;
Steer the Foreign Investment Council’s decisions implementation process, monitor/evaluate the results and assesses their impact and effectiveness on the business environment;
Report to the members of the Foreign Investment Council, and to other stakeholders, on the progress made;
Maintain close communication with the members of the Foreign Investment Council with the state institutions, business community and civil society;
In collaboration with the press service of the Government, inform the public about the activity of the Foreign Investment Council.

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

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Extension of Support to the Secretariat of the Foreign Investors Council in Uzbekistan

Project Description

Understanding Transition

Business opportunities

Enquiries

Business opportunities

General enquiries

Project Description

Understanding Transition

Business opportunities

General enquiries

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)