Uzbekistan

Uzbekistan

Adopts new law on privatization of State property

16 May 2024

On 14 February 2024, the President of Uzbekistan approved the Law “On privatization of state property” (Ўзбекистон Республикасининг Қонуни, 14.02.2024 йилдаги ЎРҚ-907-сон). The law aligns with the "Uzbekistan – 2030" strategy by aiming to reduce State participation in the economy and enhance investment attractiveness.

The law establishes a structured privatization process managed by the State Assets Management Agency, which includes drafting privatization programs, assessing assets, and determining prices. It outlines eight privatization methods, including electronic auctions and competitive bidding, with strict compliance requirements for purchasers. Under the law, assets may be privatized in full or in part, with provisions for installment payments. Transparency is emphasized, as detailed information on privatization programs and procedures is published on the Agency’s website.

The law entered into force on 16 May 2024.

Nature of measure:
  • Liberalization
Type:
  • Entry and establishment (Ownership and control)
Inward FDI:
No
Outward FDI:
No
Sources: