The Presidential Decree of the President of the Republic of Uzbekistan dated March 24, 2023 "On additional measures to reduce state participation in the economy" was signed.

First, 1,001 state packs of shares of companies will be publicly traded;

Second, 1,046 properties will be put up for public auction. Most of the properties put up for public auction are provided with an infrastructure, and the proximity to settlements creates additional opportunities for further use of these properties. In order to accelerate the sale of these properties, the lead time will be reduced from 80 days to 48 days. Properties with an area of up to 2,000 square metres can be sold directly on the basis of the entrepreneur's application;

Thirdly, the state's shares in 40 large companies and banks will be sold through a "people's IPO". In particular, the principle of "one share - one lot" will be introduced to enable all citizens and investors to participate in the "people's IPO". Namely, for the first time, the public will be offered average 2 percent shares of such large enterprises as Navoi and Olmaliq mining and metallurgical plants, Uztelecom and Sanoatkurilishbank.

In this:

citizens will be given the opportunity to purchase shares directly;

professional organisations might be engaged to organise sales processes based on the selection of the best offers;

Local investors will be given the option of online identification through the “E-auksion” trading platform, including a mobile app, entering into an agreement with investment intermediaries and opening a securities account number;

there will be a competitive environment for all investment intermediaries and their clients to participate in buying shares on the “E-auksion” electronic trading platform;

electronic applications for the purchase of shares might be submitted by the local investor himself or through an investment intermediary acting on behalf of investors;

based on the results of the online auctions, sales contracts will be registered outside the trading platforms of the exchange organisers, and information about the result is sent to the investor's personal account.

At the same time, the following legal requirements are introduced:

a) State packs of shares can be sold on the stock exchange, and a sale and purchase agreement can only be drawn up if at least two bidders participate in the auction;

b) sale or lease of the main means of all state institutions will be carried out through the "E-auction" electronic trading platform;

c) To grand from July 1, 2023, individuals will be given the right to apply for direct online auctions for privatization or lease of state real estate objects with an area of up to 2,000 square meters through the "State Property" electronic system;

d) To grand From September 1, 2023:

The warrant and state certificate for the privatisation of real estate and state shares will be released with a QR code through state service centres and/or the Single Interactive Portal of State Services;

contracts with buyers who bought state-owned objects in online auctions will be drawn up in electronic form (including through digital signature) on the electronic trading platform "E-auction" based on the report on the result of the sale;

The procedure for intermediate monitoring of investment commitments through quarterly visits of staffs of relevant ministries and agencies is abolished;

Paper-based reporting of investment commitments will be abolished, the electronic database of relevant public authorities and organisations will be integrated into the State Assets Information System, and reports will be accepted through information entered into the electronic system by entrepreneurs.