Journal

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.

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.

The Law Firm ‘LEGATE’ provides brief information on the procedure for the formation and registration of a commercial enterprise in the form of a limited liability company, which is the most common legal form in the Republic of Uzbekistan.
By the Law of the Republic of Uzbekistan “On Limited and Additional Liability Companies”, a limited liability company is a company established by one or several persons (individuals or legal entities), whose authorized capital is divided into shares of the sizes determined by the constituent documents. Participants in a limited liability company are not liable for its obligations and bear the risk of losses associated with the activities of the company, to the extent of the value of their contributions.

In the context of recent events related to the spread of coronavirus (COVID-19), including the adoption of various types of restrictions by state authorities, many entrepreneurs have faced the inability to fulfill their contractual obligations, both on their part and on the part of their contractors. We will not describe for a long time how and how much the current situation affects the economy as a whole and each entrepreneur, but will try to understand it by applying the legal norms of the Republic of Uzbekistan.

On November 20, 2019, the Decree of the President of the Republic of Uzbekistan "On measures to further improve the business environment and improve the system of support for entrepreneurship in the country" was adopted, which emphasizes the protection of property and the rights of entities acquiring state assets.
Let's see what is new in this Decree concerning the protection of the rights of entities acquiring state property.