Shavkat Mirziyoev signed the Privatization of State-owned property Bill into Law, the Legal Information channel said in a statement.

According to the Law, state-owned real estate, government stakes, shares, state unitary enterprises and state institutions can be privatized as state-owned property objects.

Privatization of state-owned property could be sold through:

• auction;
• competitive bidding;
• public invitation to negotiations;
• communication based on competition;
• stock trading;
• inclusion of a state unitary enterprise or a state institution as a state share in the authorized fund (authorized capital) of an economic society in the form of a property complex;
• inclusion of state shares and state real estate objects in the authorized fund (authorized capital) of the economic company as a state share;
• lease of a state unitary enterprise or a state institution with the condition of subsequent privatization.

State-owned property can be fully or partially privatized, except for non-privatized state-owned property provided for in the legislation on state-owned property management.

The State Assets Management Agency is an authorized state body in the field of privatization of state-owned property. The initial price of the state-owned property to be privatized shall be determined by the authorized state body or its provincial departments.

According to the Law, on the state-owned to be privatized:

• the purchase contract of the state-owned real estate shall be entered into with the participation of the authorized state body or its provincial departments, the buyer and the custodian in the balance sheet, including in electronic form;
• the purchase contract of the state’s stake in the authorized fund (authorized capital) of state institutions, state unitary enterprises, economic societies is concluded between the authorized state body or its regional departments and the buyer, including in electronic form.

Also, after performing all obligations under the contract of sale of the state-owned property to be privatized, within 5 working days, the buyer will be issued a state warrant confirming the right of ownership through state service centers or through YaIDXP (my.gov.uz) with a QR code.

This Law shall take effect in three months after its official publication.