On 17 January 2017, the President of the Republic of Uzbekistan approved the Decree “On measures for further simplification and acceleration of sale of state-owned facilities for their consequent use in business purposes”.
The document was approved with a purpose to create favorable conditions for the development of private entrepreneurship, further simplify procedures and accelerate the sale of state property objects, elimination of bureaucratic barriers in their privatization, as well as the consequent organisation of the production of competitive goods and services on their basis.
In accordance with the adopted Decree, the Chairman of the Council of Ministers of the Republic of Karakalpakstan, khokims of regions and Tashkent city are given the right to make appropriate decisions on the sale of non-strategic state-owned facilities, including at zero cost under investment commitments.
The decree provides for the creation of favorable conditions and simplification of the procedures for the acquisition of state property. For example, in case if tenants of objects of state ownership have carried out modernization and capital repair of fixed assets, as well as created new jobs, they are given a preemptive right to purchase the leased object on a priority order.
The Decree also implies the introduction of widely used international practice of sale of public facilities such as primary (IPO) and secondary (SPO) public offering of shares to the population and business entities on the stock exchange.