Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev was informed about the privatization program for 2024 and measures aimed at its effective implementation.

During a video conference on economic development, held on 16 January 2024, the Cabinet of Ministers was instructed to prepare a new privatization program. In accordance with this, a new program was developed based on an analysis of the effectiveness of shares in enterprises with state participation and state-owned real estate.

In particular, to reduce the participation of the state in the economy, lists of about 250 state shares put up for public auction, almost a thousand real estate properties of enterprises with state participation, and 12 enterprises for which a public offering of shares will be held on the local stock market were compiled.

The sale of objects previously put up for auction is progressing slowly. To speed up this process and increase the share of the private sector in the economy, certain relaxations are provided.

For example, if state assets (except for assets in the city of Tashkent and regional centers) have not been sold within three months, their value will be gradually reduced to 10 percent of the starting price. Entrepreneurs who have rented state property through an auction for at least five years as of January 1, 2024 and have fulfilled their obligations are given the right to purchase it directly at the assessed value.

The starting price of non-agricultural land plots (with the exception of the city of Tashkent and regional centers) not sold within three months will be reduced to 30 percent, and if not sold within six months - to 10 percent.

It is possible to make 15 percent of the payment within three months, the remaining part - within ten years.

Payments to eliminate deficiencies in cadastral documents of real estate included in privatization programs will be allowed to be made at the expense of the Privatization Fund.

In addition, within the framework of the new program, lists of land plots put up for auction for the placement of trade and service facilities along international highways, as well as for business and urban planning activities have been compiled, and their putting up for auction is simplified.

In this regard, it is proposed to introduce a new procedure. In particular, land plots located along international highways, regardless of their category, will be put up for auction for the construction of modern retail and consumer services facilities based on a master plan.

Registration of sold land plots to the buyer will be carried out without restrictions.

At the meeting, special attention was also paid to the issues of transformation and privatization of large enterprises with state participation, and proposals for accelerating these processes were discussed.

Measures for the privatization of enterprises with a state share serving the agricultural sector are considered.

The head of state gave instructions to speed up these processes, develop entrepreneurship on the basis of privatized buildings and structures, and create more jobs.

It was emphasized that a constant increase in the share of the private sector in subordinate areas, the sale of inefficiently used and empty assets should become the main tasks of local khokimiyats and industry leaders.