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Home / Business and Innovation / Uzbekistan privatizes 609 state assets

Uzbekistan privatizes 609 state assets

In 2016, the State Committee of the Republic of Uzbekistan for privatization, demonopolization and development of competition and its subordinated structures paid particular attention to the implementation of key priorities initiated by the head of state at the meeting of the Cabinet of Ministers on 15 January 2016, as well as to the execution of complex of measures on implementation of the Action Programme of the Cabinet of Ministers for near and long term, the press service of the Committee said.

Improving the legislative base

In 2016, the Committee developed 53 draft normative legal acts, including 3 drafts of law 4 drafts of decision of the President of the Republic of Uzbekistan, 27 drafts of decisions of the Government, as well as 19 departmental normative legal acts.

Privatization of state assets 609 state assets worth 174.8 billion soums and $1.1m. were privatized during the reporting period. 275 of them were sold at zero rate under investment commitments for the sum of 580.8b. soums and $30.2m., 13123 new jobs were created.

There are 413 public assets as of today put up for auction, including 65 at zero redemption cost. 223 out of 348 objects put up for sale at redemption value are applied step-by-step reduction mechanism.

Monitoring of investment commitments

Investment commitments under 101 contracts totaling $2.7m. and 57.8. soums were performed in full, more than 2,700 new jobs were created.

As of January 1, 2017, monitoring is conducted over 871 contracts totaling $219.8m. and 1.3 trillion soums, including over 13 contracts concluded with foreign investors. The total volume of investment commitments under these agreements amounted to $113m. and 559.7b. soums, more than 6,500 jobs were created.

Stock market development

The total turnover of the market of shares and corporate bonds amounted to 14.5 trillion soums, having increased by 10.95 trillion soums, or 4.1 times more than in 2015.

4337 deals for the purchase and sale of shares worth 307.71 billion soums were concluded, 1031 deals worth 69.5 billion soums were on the primary market, and 3306 deals worth 238.2 billion soums on the secondary.

Lease of idle state objects

Some 20.2 thousand premises were leased during the reporting period, 64.8 thousand new jobs were created. 91.6 billion soums were received from this direction.

Licensing of evaluation, exchange and realtor activities

The Expert Commission on licensing of evaluation activities reviewed materials received from 41 legal entities, issued 25 licenses. As of January 1, 2017, 236 licenses were issued.

The Expert Commission on licensing of realtor activities reviewed materials of 56 legal entities. 31 licenses were issued. As of January 1, 2017, 272 licenses were issued.

Regulation of natural monopolies

The number of natural monopolies in the State register of natural monopolies (State register) fell by 112 and made up 151.

Development of a competitive environment 394 markets were studied, including 390 commodity and 4 financial markets. 64 appeals were received on the issue of unfair competition, under 19 of them 24 suits were commenced.

Protection of the rights and interests of consumers

The Committee received 6843 appeals, including 5011 –in writing, 1832 – through the helpline.

Following their results, 2.9 billion soums were recalculated in favor of consumers.

Ads market regulation 425 cases were studied, 236 violation cases were identified. 179 prescriptions were issued, 66 officials were fined for 41.9m. soums.
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