New in the protection of property rights in 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.
It should be noted that the issue of protection of the rights of investors acquiring state assets was previously reflected in the Law "On protection of private property and guarantees of the rights of owners" as amended on 24.09.2012, part 3 of article 24 of which stated that:
"It is not allowed to initiate questions on revision and cancellation of results of privatization by the state, including controlling and law enforcement agencies, and also court on the property privatized after the entry into force of this Law". 
Subsequently, the Law of 13.06.2017 this article was amended and stated in the following wording:
"It is forbidden to initiate questions on revision and cancellation of results of privatization, including results of an assessment of cost of objects by the state, including supervising, law enforcement agencies and courts". 
At the same time, in practice investors faced a question of ignoring of the above-mentioned provisions of the Law by state bodies and courts.
Decree of the President of the Republic of Uzbekistan dated November 20, 2019 provides:
"To establish that initiation of questions on revision and cancellation of results of denationalization and privatization, including results of an assessment of cost of objects state, including controlling, law enforcement agencies and courts, is qualified as violation of inviolability of private property, such cases aren't accepted to consideration".
In addition, the presidential Decree mandates the General Prosecutor of the Republic of Uzbekistan to strengthen supervision over strict observance of the legislation on protection of private property and guarantees of owners ' rights, to ensure the inevitability of responsibility, up to criminal prosecution, officials of the authorized state bodies for initiating a review and the annulment of the results of privatization.
As can be seen, the State is establishing increasingly stringent measures to protect investors, without which it is impossible to make Uzbekistan attractive for investment.
In addition, there is an issue faced by many, especially foreign, investors in the acquisition of state property.
The body that is authorized to sell state assets when negotiating a contract on the sale of state property, as a rule, does not agree to the establishment of jurisdiction in foreign, international arbitration, and provides for the resolution of disputes in the Economic courts of Uzbekistan, which is often considered by investors as a serious risk and leads to refusal to enter into a transaction.
Fixing in the Legislation of recommendations to the Body authorized for the sell  of state assets, on the proposal of the investor to establish in contracts on privatization of objects of state property jurisdiction in the international commercial Arbitration court, will allow to reduce risks and will increase trust of potential investors.
Legate law Firm has prepared relevant proposals on amendments to the Legislation on jurisdiction under contracts on privatization of state property.