LAW OF THE REPUBLIC OF UZBEKISTAN

of October 22, 2024 No. ZRU-980

About modification and amendments in some legal acts of the Republic of Uzbekistan in connection with enhancement of the sphere of management of state-owned property

Accepted by Legislative house on July 16, 2024

Approved by the Senate on September 21, 2024

In our country system reforms on regulation of the relations in the field of management of state-owned property, to creation of the favorable investment climate, reducing participation of the state in economy, expansion of private property due to privatization of state-owned property are performed.

Also measures for reforming of the companies with participation of the state, to implementation in their activities of the modern principles of corporate management, to their step-by-step transformation to the effective companies capable to compete on internal and the foreign markets are taken.

At the same time, there is need to provide the effective organization of execution accepted on the basis of the regulatory legal acts realized in the field of reforms by their harmonization with the existing legal documents.

This Law provides the regulations connected with pledge, assessment and exposure to the public biddings of state-owned property, cancellation of procedure for realization of objects of state-owned property on "zero" redemption value, regulation of expenses on sponsorship of the companies with the state participation, and also regulation of the security market.

This Law will serve enhancement of the sphere of management of state-owned property and increase in private property by determination of powers and priorities of specially authorized body.

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