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Between 2018 and 2021 EBRD worked very close to State Assets Management Agency in order to prepare a new privatization Law. We are very glad that this privatization Law has finally been approved first in the Parliament and the Senate, and finally by Presidential Decree.
We believe that the Law as it is will improve the privatization process in the country, will improve its transparency and will increase confidence of the investors. One of the key parts of the Law that we are happy about is that the Law emphasizes the competitive sales process. We have operated in a history of EBRD in close to 40 countries, most of them early to medium stage of development and transition. It is our experience that this is the process which allows the best buyers to come out, the best price to be achieved, and the best value to be achieved for the country and for the citizens.
In conclusion I would like to say that we feel that this Law is going to be not only critical, but is going to bring substantial contribution to attracting more private investments, both domestic and foreign, which is something that is very necessary and important for the economy of Uzbekistan.
Andi Aranitasi
Director, Head of Uzbekistan at EBRD
