Tuesday, 02, March, 2021

The President signed the Measures to Further Expedite Privatization of State-Owned Assets Decree. According to the Decree, when organizing the processes of putting up for public auction and selling the state-owned assets:

- engaging of professional entities is carried out by the State Assets Management Agency or the investment company UzAssets through selection of the best proposals. While, it is not required to conduct an examination of the contracts entered into with them; 

- in the bidding process it is allowed to take as a reference the value or the range of value determined by professional entities for the purpose of selling state-owned assets (notwithstanding the requirements of the national evaluation standard); 

- the requirement for the mandatory establishment of their value as the starting price for state-owned assets, recommended in the appraisal report of the appraisal organization and determined in its expert opinion, shall not be applied. 

The State Commission for Bidding for Sale of State-Owned Property is authorized to make decisions on the publication of announcements on the sale of state-owned assets without announcing the starting price, as well as the sale of state-owned assets based on the best of at least two offers (regardless of the price recommended in the appraisal report and defined in the expert opinion). 

Also, by August 1, 2021, the procedure for selecting appraisal firms, determining the cost and paying for their services during privatization, based on the selection of the best proposals, shall be introduced.

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