President of Uzbekistan Shavkat Mirziyoyev has signed a decree “On measures to further simplify and accelerate sale of state properties to be used for business purposes”.
The provisions of the decree eliminate bureaucratic barriers to privatization of state properties and contribute to the organization of production at the privatized facilities.
The document also simplifies some procedures for the acquisition of state properties.
For example, the tenants, who upgraded or overhauled their state properties, as well as created new jobs there, will have an advantage over other applicants. It is also allowed to sign contracts for the sale and purchase of state properties if the corresponding proposal is received from the only applicant.
Three years period is provided to carry out redemption payments regarding the privatized properties. During the sale of state properties at the competitive bidding, it is prohibited to demand any other documents except for the application and business plan from the applicants, who are residents of Uzbekistan, and it is also prohibited to initiate issues regarding the review and cancellation of the results of privatization. (Trend/Business World Magazine)
