Today at the 47th plenary session of the Senate of the Oliy Majlis considered and approved the Law "On privatization of state property".
It should be noted that this Law was adopted by the Legislative Chamber of the Oliy Majlis of the Republic of Uzbekistan on September 5, 2023.
The main aspects of the Law:
- fundamentally differs from the Law "On denationalization and privatization" adopted in 1991;
- includes 8 modern methods of privatization, which are not established in the current law, such as electronic online auction and stock exchange, as well as public invitation to negotiations with the involvement of professional consultants, sale on the basis of competitive dialogue and lease of enterprises with the condition of their subsequent sale;
- the principles of openness and transparency, accountability, ensuring equal competitive environment, as well as the procedure and conditions for conducting sales and making payments are defined.
This Law will be sent to the President of the Republic of Uzbekistan for signing and will come into force 3 months after its official announcement.
