The IT Park Uzbekistan has proposed implementing English law norms.

English law was proposed for implementation within the territory of IT Park Uzbekistan. On July 7, Abduqahhor Tashmukhamedov, founder of Green White Solutions, presented this proposal during an open dialogue with representatives of IT companies, content providers, and participants in government procurement, organized by the Chamber of Commerce and Industry.

In December 2023, during a visit by the President to the Ministry of Digital Technologies, plans were discussed to introduce English law within the territory of IT Park Uzbekistan, extend tax benefits for residents until 2040, and create favorable conditions for the development of the industry for the next 100 years.

In January 2024, Rustam Rakhmatov, founder of the startup IMAN, proposed conducting legal reform and implementing a regulatory "sandbox." Among the main obstacles to the development of the venture financing market, he noted the absence of English law.

A regulatory "sandbox" for IT companies with a special legal regime is planned to be launched at the center in the following areas: tax and customs regulation, labor relations, banking and financial activities, processing and protection of personal data, protection of intellectual property, provision of state services, and resolution of commercial and civil disputes.

Last July, IT Park Uzbekistan signed an agreement with the consulting company EY Uzbekistan to develop a legal regime for the future "sandbox." Elements of the "sandbox" will be developed based on international experience and the specifics of the local market.

Source: spot.uz