PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of December 22, 2003 No. UP-3366

About enhancement of system of bodies of economic board

For the purpose of further liberalization of management of economy according to requirements of the present stage of market transformations, deepenings of administrative reform, widespread introduction of regulations and the principles of corporate management, unification and increase in efficiency of the organization of activities of economic associations:

1. Determine that bodies of economic board are the economic associations created in the following main forms of business:

joint stock companies, including state and joint-stock, exercising economic board of the companies which are their part through blocks of shares of these companies belonging to economic consolidation;

the associations created on voluntary basis by the founder companies for rendering assistance in their activities by delegation of separate general functions by it without the right of management of blocks of shares of the founder companies.

2. Consider the main objectives and functions of economic associations:

determination of perspective sustainability strategy of industry and sphere of economy;

the organization of marketing researches, rendering assistance in development of production of new types competitive on internal and the foreign markets of products (works, services), their promotion on the world markets;

assistance in upgrade and technological modernization of the companies, broad attraction for these purposes of foreign investments;

rendering information services to the companies and organizations which are their part;

organization of preparation, retraining and advanced training of personnel.

3. Determine that functions of public administration, including distribution, and also administrative intervention in activities of the companies which are their part are not included into power of bodies of economic board.

4. Accept offers of the Republican commission on preparation of offers on deepening of administrative reform and enhancement of management structure the economy formed by the Order of the President of the Republic of Uzbekistan of June 20, 2003 NR-1791:

a) about liquidation:

Uzbek association of the companies of mechanical engineering Uzmashprom;

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