#Legal_news The privatization process of state assets will b | Legal Info

#Legal_news

The privatization process of state assets will be accelerated

The Presidential Decree “On measures to further accelerate the processes of privatization of state assets” (№ DP-6167, 11.02.2021) was adopted.

In accordance with the Decree, by organizing the processes of allocation to public auction and selling the relevant state assets:

The involvement of professional organizations is conducted by the State Assets Management Agency or the investment company "UzAssets" based on the selection of the best proposals. At the same time, it is not required to conduct an examination of the contracts;

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 realization of state assets (regardless of the requirements of the national standard for valuation activities);

the requirement for the mandatory establishment of the starting price of state assets of their value, recommended in the appraisal report of the appraisal organization and determined in its expert opinion, is not applied;

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

By August 1, 2021, the procedure for selecting 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 implemented.

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