22:19 / 12.02.2021
Uzbekistan facilitates privatization of state assets 

The President has signed the decree “On measures to further accelerate the privatization process of state assets”.

According to the document, when organizing the process of public tender and selling the corresponding state assets:

  • involvement of professional organizations is carried out by the State Assets Management Agency or the investment company UzAssets based on the selection of the best offers. There is no need for an expert review of the contracts concluded with them;
  • it is allowed in the bidding process to take as a benchmark the value or range of value determined by professional organizations for the purpose of selling state assets (regardless of the requirements of the national standard for valuation activities);
  • it is not required to fix the value of state assets as a starting price, as recommended in the evaluation report of the valuation organization and determined in its expert opinion.

The State Commission on Tendering State Property is granted the power to decide on the publication of announcements on the realization of state assets without the announcement of the starting price, as well as selling state assets on the basis of the best of at least two offers (regardless of the price recommended in the evaluation report and determined in the expert opinion).

Also, by 1 August 2021, the procedure for the selection of appraisal organizations, determining the cost and paying for their services in the privatization of state property, based on the selection of the best commercial proposals, will be introduced.

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