President approves measures to develop mechanisms for financing innovative projects

President approves measures to develop mechanisms for financing innovative projects

695 463 eucbi

The document approved a number of measures for the effective development of financing mechanisms for promising projects.

In particular, followings were identified as the main market participants:

Investment company – a commercial organization that carries out activities related to the formation and accumulation of funds of qualified investors attracted by the management company for their further investment in innovative and other promising projects;

Management company – a commercial organization that manages the investment deposit of the investment company in accordance with the agreement concluded between them;

Venture Fund – an investment company under the administration of the management company intended for investment of funds accumulated solely within high-risk venture projects;

Qualified investors — legal entities and individuals, including foreign ones, who have made deposits to investment companies in the form of cash in the amount of not less than 500 million UZS in national currency and / or foreign currency in the equivalent at the exchange rate of the Central Bank at the date of deposit;

According to the document, management and investment companies can be established in any legal form, their activities are not subject to licensing.

SOURCE: www.uzreport.news/economy/president-approves-measures-to-develop-mechanisms-for-financing-innovative-projects