The goal of the mission is to study issues related to registration of real estate and granting permissions for construction within the preparation of annual report Doing Business Advisory, which summarizes experience of the governments of various countries on creation favourable legal environment for developing private and small businesses.

The World Bank mission expressed interest to the activity of the State Property Committee of Uzbekistan, directed at increasing role and share of private sector in economy of Uzbekistan. The World Bank delegation received information on regulation of land use during privatization, purchase of right to property of privatized object.

The Uzbek officials also briefed the guests on priority directions of creating favourable conditions for private sector through improving privatization mechanism and introduction of corporate management principles at privatized enterprises.

Speaking about real estate registration, used methods at its assessment, the Uzbek officials noted that currently realtor activity is one of the fast growing sectors and has favourable legal conditions. It was said that Uzbekistan adopted a law “On realtor activity”, which also provides preferences to legal entities and individuals, engaged in realtor activities.

For successful implementation of the law “On realtor activity”, it is important technical equipment, existence of information sources both for realtors and consumers, as well as other users of real estate. International experience showed that the issue can be solved with so called multi-listing systems, a database storing information on objects, their prices and conditions.

Uzbekistan is also planning to create similar system with foreign experts in line with the plan on implementation of the law “On realtor activity”. In this connection, World Bank expressed interest to study the issue and determine ways of its solving.

At the end of the meeting, the sides agreed on further joint actions in this direction.