President Shavkat Mirziyoyev received an update on Uzbekistan's 2024 privatization program and measures to enhance its implementation for economic efficiency, presidential press service informed on April 17.
Following the President's directives during a January 16 video conference on economic development, the Cabinet of Ministers was tasked with formulating a new privatization plan. This involved analyzing state-owned enterprise shares and real estate assets to devise the program.
To reduce state intervention in the economy, approximately 250 shares were earmarked for public auctions, alongside nearly a thousand real estate assets and a dozen enterprises slated for public offering on the local stock market.
Challenges arose with the sale of previously listed assets, prompting proposed relaxations. For example, if state assets remain unsold for three months (excluding Tashkent city and regional centers), their initial price will gradually decrease to 10%. Entrepreneurs with at least five years of rental tenure and fulfilled obligations are offered the opportunity to purchase state property at appraised value.
Flexible payment terms include 15% upfront, with the rest payable in ten-year installments. The Privatization Fund may cover deficiencies in cadastral documents of real estate within the privatization programs.
Land plots identified for entrepreneurship, urban planning, and trade and service facilities along international highways are streamlined for sale. Special focus was directed towards the transformation and privatization of large state-owned enterprises, with strategies discussed to expedite the process. Measures pertaining to the privatization of state-owned enterprises serving the agricultural sector were also deliberated.
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