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Uzbekistan’s rare earth elements sector. Short guide for lawyers, investors and lenders
Uzbekistan is increasingly viewed as a prospective jurisdiction for rare earth elements and associated critical minerals (“REEs”). The sector is primarily policy-driven, with state authorities actively promoting exploration and foreign investment. Under subsoil legislation, REEs fall within categories subject to heightened regulatory oversight, reflecting their economic and strategic significance. As a result, licensing, export, and commercialization conditions may differ from those applicable to ordinary construction or industrial minerals. Our team has prepared a comprehensive guide outlining the most recent developments in the sector. Click on the image below or use this link to read our overview
New mechanisms for monitoring external borrowings by large enterprises in Uzbekistan
Starting from 1 January 2025, any Uzbek resident (or a group), public or private, deemed as systemically important and with an outstanding debt that exceeds USD 50 million, potentially falls under the new CoM Regulation No. 670 "[O]n further improvement of the system of attracting bank loans and foreign debts by large enterprises of systemic importance for the economy of Uzbekistan" ("Regulation 670"). Whether an entity is deemed systemically important to the national economy is decided by the by the Coordination Commission on Risk Management for Systemically Important Enterprises (the "Coordination Commission") on an annual basis; If an entity falls under Regulation 670, it must get the Commission’s
Kinstellar welcomes Otabek Suleymanov as Partner, further strengthening its capabilities in Uzbekistan
Kinstellar is pleased to announce that Otabek Suleymanov, a highly reputable and experienced lawyer, has joined its Tashkent office. His addition as the fourth Partner in the local team underscores Kinstellar’s continued commitment to strengthening its presence and expanding its capabilities in Uzbekistan and the wider Central Asia region. Otabek has over two decades of experience in cross-border Banking and Finance, M&A, as well as a variety of projects matters in the key sectors in Uzbekistan’s growing economy. He is widely recognised for his deep sector knowledge and his ability to structure and execute complex transactions: his clients describe him as a “strong and well-experienced lawyer” with “impeccable