2. Managing process of state property in Uzbekistan 2.1 Resolution of state committee of the republic of Uzbekistan on management of the state owned property The state as a main reformer is solving the key task of increasing the industrial potential of the enterprises through introduction of modern and efficient technologies. Today, there are about 25,000 enterprises with the state share in Uzbekistan. In 215 companies, the state property is managed by professional management teams. The management of the state property is also carried out by local authorities and the State property committee. In accordance with the President’s decree of 18 November 2008, the joint-stock companies are increasing their charter capitals. The goal is to create large and stable companies with effective mechanism of corporate management and internal audit. The increase of the capitalization and financial stability of the real sector enterprises envisage attraction of investments, including those of the commercial banks. To date, thanks to attraction of investments, part of the enterprises with the state share has got rid of the losses and created a total of more than 3,000 new workplaces.
According to the resolution of the President of the Republic of Uzbekistan of April 26, 2006 NPP-335 "About Enhancement of Activities of the State Property Committee of the Republic of Uzbekistan" , the State management committee state-owned property, the Ministry of Economics, the State committee on demonopolization, support of the competition and entrepreneurship of the Republic of Uzbekistan decide:
1. Approve the enclosed Regulations on procedure for realization of real estate objects at the organized off-exchange biddings.
2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.
This Provision according to the Civil code determines procedure for carrying out the organized off-exchange biddings with the real estate belonging to physical persons and legal entities.
This Provision does not extend much sales of the state real estate objects. Realization of the state real estate objects at the auction and competitive biddings is carried out according to the Government decisions regulating questions of realization of the state assets.
In order to get state owned enterprise into a business partnership or company you need to submit an application to the State Assets Management Agency. Citizens, non-state legal entities of the Republic of Uzbekistan and legal entities of other States, the labor collective, the manager of public property objects have the right to initiate the denationalization and privatization of the enterprise. Offers and applications for the transformation of state organizations are submitted by the initiators to the Agency for the Management of State Assets of the Republic of Uzbekistan or their Territorial Administration. The Agency, if there are no restrictions established by law on the transformation of a state organization, within five working days after receiving the application, sends a request to the founder of the state organization and to the relevant local government authority to submit an opinion on the feasibility of transforming the state organization, which must be signed by the first head of the founder of the state organization and the local government authority and stamped. There may be cases of privatization without obtaining the consent of the organization that is the object of privatization. The decision to carry out denationalization, privatization or to refuse them is made by the administrator of public property objects within ten daysfrom the date of receipt of the application and is communicated in writing to the applicant and the labor collective of the denationalized and privatized enterprise. At the same time, the decision to transform a state-owned enterprise into a joint-stock company is made by the Agency
According to this provision , auctions and competitions are held in the form of open and closed tendering. Any person who showed willingness of probresta the exposed object of the biddings can participate in open auction and tender. Only persons who are specially invited for this purpose by the organizer of the off-exchange biddings in coordination with the seller participate in private auction and tender. Conclusion of the purchase depend on the results of the auction or competition on the electronic trading platform “E-IJRO AUKSION”, the purchase and sale agreement is concluded on the basis of the electronic auction protocol provided by the auction organizer. No later than twenty days after the signing of the protocol, unless otherwise specified in the notice of the auction or an invitation to make offers, a purchase and sale agreement is concluded with the winner of the auction , the participant who submitted a single application that fully meets the terms of the auction or the bidder who most meets the terms of the offer .
After the conclusion of the purchase and sale agreement, the buyer or his authorized representative makes purchase payments and fulfills investment and social obligations in accordance with the terms of the concluded purchase and sale agreement. At the same time, if the auction or tender is won, the deposit made by the winner is included in the amount of redemption payments, and the deposit made to the other bidders is returned within five banking days. The term of payment of redemption payments for state shares is established by the seller, but may not exceed three years from the date of entry into force of the purchase and sale agreement, unless otherwise established by the decisions of the President or the Cabinet of Ministers of the Republic of Uzbekistan or the State Tender Commission.
If the buyer makes a full payment of the purchase payments within one month from the date of conclusion of the purchase contract, the payment is made taking into account the discount from the amount of the purchase payments in the amount of the annual refinancing rate of the Central Bank on the date of conclusion of the purchase contract.
