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RESOLUTION BY PRESIDENT OF THE REPUBLIC OF UZBEKISTAN DATED APRIL 28, 2015 PP-2340

Appendix №1 LIST of joint stock companies, at which state-owned shares and shares of economic management bodies shall be subject to sale to strategic foreign investors

Appendix №2 LIST of companies and enterprises in which the state-owned assets and the share of economic organizations are sold by public auction to private ownership, especially by foreign investors, with a view to further modernization, technical re-equipment of production, organization of production of competitive products

Appendix №3  LIST of objects of state property, including unfinished construction, to be sold on a competitive basis for the "zero" redemption value with investment obligations

Appendix №4 LIST of unused state property, to be sold entirely into private ownership at a public auction

Appendix №5 ПЕРЕЧЕНЬ низкорентабельных и бездействующих организаций, по которым инициируется процедура ликвидации или банкротства

Appendix №6 ПЕРЕЧЕНЬ неиспользуемых и незавершенных строительством объектов государственной собственности, подлежащих сносу по заключению уполномоченных органов и решению районных (городских) хокимиятов

Appendix №7 Изменения, вносимые в некоторые решения Президента Республики Узбекистан и Кабинета Министров

RESOLUTION BY PRESIDENT OF THE REPUBLIC OF UZBEKISTAN DATED April 28, 2015 PP-2340 "ON MEASURES AIMED AT INCREASE OF THE SHARE AND SIGNIFICANCE OF THE PRIVATE OWNERSHIP IN THE ECONOMY"

With the aim to enhance the attraction of foreign investments, radical increase of the level and the role of the private ownership in the national economy in ways of deepening the privatization processes and sale of the state-owned shares and assets present at the charter funds  (charter capital) of the enterprises to private investors, first place to the foreign investors and, on this basis, to ensure the modernization and technological renovation of production processes, arrangement of manufacture of products being competitive both at the domestic and external markets:

1. It shall be taken into the note that, the State Committee on Privatization, Demonopolization and Development of Competition, the Ministry of Economy, Ministry of Finance of the Republic of Uzbekistan together with the ministries and institutions concerned, the Council of Ministers of the Republic of Karakalpakstan, regional khokimiyats and Tashkent city khokimiyat have performed critical analysis of presence of the state-owned shares and assets at the charter funds  (charter capital) of the enterprises, empty and unfinished by construction facilities being at state ownership and, based on that, the proposals on radical reduction of  the state's presence at sectors and spheres of the real economy have been elaborated.

2. The following Lists shall be approved:

  • of joint-stock companies, at which the state-owned shares and shares of the economic management bodies shall be subject to sale to strategic foreign investors, in accordance with the Appendix No1;
  •  of companies and enterprises at which the state-owned assets and the shares of the economic management bodies shall be subject to sale through the competition sales (public auctions) into the private ownership, first place to foreign investors, with the aim of further modernization, technical re-equipment of the production processes, arrangement of manufacture of competitive products, in accordance with the Appendix No2;
  • of the state-owned facilities, including those unfinished by construction subject to sale on a competitive basis at a "zero" purchase price with undertaking the investment obligations, in accordance with the Appendix No3;
  • of the unused state-owned facilities, subject to sale entirely into the private ownership through public sales, in accordance with the Appendix No4;
  • of the low-profit and inactive organizations, related to which the procedures of liquidation or bankruptcy have been initiated, in accordance with the Appendix No5;
  • of unused and unfinished by construction state-owned facilities being subject to demolition upon the conclusion issued by the authorized bodies and the resolutions adopted by the district (city) khokimiyats, in accordance with the Appendix No6;

3. The Commission on rise of the efficiency of the activity of the joint-stock companies and improvement of the corporate governance system, formed by the Resolution of the President of the Republic of Uzbekistan No PP-2327 dated March 31, 2015 (Mr. Azimov R.S.) shall:

  • within a one-month period get approved the time-table for evaluation and putting onto sales of the assets being subject to sale to strategic foreign investors, in accordance with the Appendix No1;
  • present, on systematic basis, the proposals on additional sale of the parts of the state-owned shares and the shares of the economic management bodies being present at the charter funds  (charter capital) of the economic entities.

4. The State Committee for Privatization, Demonopolization and Development of Competition in cooperation with the ministries, institutions, companies, associations concerned, the Council of Ministers of the Republic of Karakalpakstan, regional and Tashkent city khokimiyats shall, within a one-month period, get approved the time-table for the evaluation and putting onto sales of the assets included into the Appendixes No2 and No4, as well as the time-table for conduct of the competitive biddings for sale of the facilities at a "zero" purchase price, having been included into the Appendix No3.

5. The Council of Ministers of the Republic of Karakalpakstan, regional and Tashkent city khokimiyats, together with the State Committee of the Republic of Uzbekistan for Architecture and Construction shall, within a one-month period, get approved the time-table for demolition the state-owned facilities, in accordance with the Appendix No6, and conduct, in the established order, of the competitions on providing the entrepreneurship entities with the released land-lots.

6. The order shall be established, in accordance with which:

  • till a moment of transfer of state-owned facilities to a new owner, responsibility for safety of those facilities shall be born by their asset-holders;
  •  leaseholders of the state-owned facilities, indicated at the Appendixes No3 and No4, who duly fulfill their obligations under the lease agreements, shall possess a preferential right to buy-out the leased production spaces, including those to be sold at a "zero" purchase price under the approved terms;
  • the state unitary enterprises may be created in exceptional cases only upon a decision adopted by the Government of the Republic of Uzbekistan.

7. Amendments shall be entered into certain resolutions previously adopted by the President of the Republic of Uzbekistan and the Cabinet of Ministers, in accordance with the Appendix No7.

8. The State Committee for Privatization, Demonopolization and Development of Competition, the Ministry of Economy and the Ministry of Finance of the Republic of Uzbekistan together with the Ministry of Justice, other ministries and institutions concerned shall, within a two-months period, present to the Cabinet of Ministers the proposals on entry into the legislation of the amendments and addenda arising from the present Resolution.

9. Control over implementation of the present Resolution shall be entrusted to Mr. Sh. Mirziyoev, the Prime Minister of the Republic of Uzbekistan.

President of the Republic of Uzbekistan                         Islam Karimov

Tashkent city

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