Applicable law and jurisdiction clause: frequently asked questions
Currently, Uzbekistan is becoming an attractive region for foreign companies and investors. New enterprises are being created, as well as shares in existing Uzbek companies are being purchased, businesses are being relocated from foreign countries, state assets are being acquired, and large projects are being carried out through permanent establishment. All these processes, of course, are accompanied by the conclusion of agreements and contracts.
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Some aspects of legal regulation of privatization issues in the Republic of Uzbekistan.
Privatization of State assets in the Republic of Uzbekistan is proceeding apace and Uzbekistan is demonstrating its political will to expand the privatization process and to attract both foreign and domestic investors.
At present, the sale of state assets is mainly regulated by decrees and resolutions of the President of the Republic of Uzbekistan, other by-laws. The Law "On Privatization", adopted in 1991, although not invalidated, does not contain all the relevant changes necessary to regulate the rapidly developing privatization process.
LAW FIRM LEGATE WISHES MERRY CHRISTMAS AND COMING NEW 2023 YEAR!
LAW FIRM LEGATE WISHES MERRY CHRISTMAS AND COMING NEW 2022 YEAR!
Public-Private Partnership in the Republic of Uzbekistan: What changed?
The Government involvement into relations that are subject to the civil legislation on an equality with other participants is stipulated by the Article 79 of the Civil Code of the Republic of Uzbekistan. At the same time, it is stipulated that the regulatory and administrative authorities and other bodies specially authorized by such shall participate in the relations that are subject to the civil legislation on behalf of the Government.
The Public-Private Partnership (PPP) shall represent one of the forms of such interaction between the Government and the private sector. The Law of the Republic of Uzbekistan "On Public-Private Partnership" has been adopted on May 10, 2019. A special body - the PPP Development Agency that is defining the uniform PPP Policy in the Republic, considering projects, approving the tender documents and PPP agreements has been created even earlier by the Decree of the President of the Republic of Uzbekistan dated as of October 20, 2018.