April 20, 2020 marked the 20th anniversary of the adoption of the resolution of the Cabinet of Ministers of the Republic of Uzbekistan № 156 of April 20, 2000 “On issues of exploitation of the building of the business center of the international trade and exhibition complex”. Clause 1 of the mentioned Decree stipulates that the Company was established “with the purpose of creating favorable conditions for the activity of foreign companies and companies accredited in Uzbekistan that meet international requirements… the Business Center building of the International Trade and Exhibition Complex is intended, first of all, to accommodate representative offices of foreign companies, firms, banks and other foreign and international organizations and structures.
Celebrating the jubilee date, I would like to refer to the historically important for the Society chronology of the latest government decisions in the part concerning JSC “International Business Center”:
According to the order of the State Property Committee of the Republic of Uzbekistan No. 36-P dated June 19, 2000 and Securities Issue Prospectus No. R02815 dated September 13, 2000, the authorized capital of the Company made 70 790 641 US dollars or (at the rate of Central Bank of the Republic of Uzbekistan as of April 20, 2000 1 US dollar was equal to 148,82 soum) 10 535 063 thousand soum with nominal value of one share in one thousand soums.
In accordance with the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No.232 dated August 11, 2011 “On additional measures on improvement of activity of International trade and exhibition complex”, the following objects were transferred to the authorized capital of the Company in account of increase of state share in the authorized capital of the Company by acquisition of additional issue of shares:
– property complex “Trade Center at the International trade and exhibition complex;
– property complex “Information Center “Uzincomcenter”;
– property of the Central square of MTVK;
– property and improvement objects located on the adjacent territory to the building
JSC ” Xalqaro hamkorlik markazi “;
– recreation area of the Ministry of Foreign Economic Relations, Investment and Trade of the Republic of Uzbekistan in the tract “Chimgan”.
In pursuance of the Decree of the Cabinet of Ministers of the Republic of Uzbekistan on August 11, 2011 № 232 Order of the State Committee of the Republic of Uzbekistan for privatization of demonopolization and development of competition of December 27, 2012 № 01 k-PO decisions № R0218-5 on the issue of shares registered by the Center for Coordination and Control of the securities market of the Republic of Uzbekistan contract № 01-41/6-63 on the placement of securities from March 15, 2013 in addition 32,292,943 shares with a par value of 1190 sum were placed in the account of the Ministry of Foreign Economic Relations, Investments and Trade.
Further, the resolution of the President of the Republic of Uzbekistan from October 16, 2017 № PP-3326 “About measures for further development and increase of efficiency of activity of the State committee of the Republic of Uzbekistan on investments” provides transfer of the Company from structure of the Ministry of Foreign Trade of the Republic of Uzbekistan in structure of the State committee of the Republic of Uzbekistan on investments. Pursuant to the above resolution, the share of 80.87% or 34,637,086 shares for a total of 41,218,132,340 soums in the authorized capital of the Company by the act of acceptance and transfer of securities dated 21 November 2017 were transferred to the State Committee of the Republic of Uzbekistan for Investments.
By the point 3 of the Resolution of the President of the Republic of Uzbekistan “On organizational measures on realization of the project “International high-tech innovation center “Delta city” in Tashkent city” №ПП-3833 dated 04.07.18 it is established that buildings and constructions, together with adjoining territory, located on the project territory and belonging to the state bodies, state enterprises and institutions, as well as other organizations with the state share in the authorized capital at the rate of 50% and more, are transferred to the Directorate on the free of charge basis.
According to item 3 of the Decree of the President of the Republic of Uzbekistan from 07.06.2019 №ПП-4355 “About measures on improving the system of organization and holding of congress and exhibition events at interstate, intergovernmental and interdepartmental levels”, it is defined that SUE “InterForum” exercises the rights of the shareholder on the state share (share) in the authorized capital (fund) of the joint-stock company “International Business Center”.
In pursuance of the above Decree of the President of the Republic of Uzbekistan dated 07.06.2019 under No. PP – 4355, the state block of shares in the authorized capital of the Company (in the amount of 35.002.293 ordinary shares) in 2019 was transferred to SUE “InterForum” under the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan.