The next meeting of the faction of the Movement of Entrepreneurs and Businesspeople – the Liberal Democratic Party of Uzbekistan in the Legislative Chamber of the Oliy Majlis was held.

The draft law “On introducing amendments and addenda to some legislative acts of the Republic of Uzbekistan in connection with the improvement of the sphere of state property management” was considered at the meeting.

As mentioned, systematic reforms are being implemented in the country to regulate relations in state property management, create a favorable investment environment, reduce state participation in the economy, and expand private ownership by privatizing state properties.

The proposed draft law envisages the abolition of the procedure for pledging, valuing, and auctioning state property and the procedure for selling state property objects at a “zero” purchase price.

Norms related to the regulation of the securities market and sponsorship expenses of state-owned enterprises are also being defined.

During the discussions, the faction members focused on the draft law’s importance and expressed their opinions, suggestions, and recommendations based on the party’s goals and tasks regarding some of its norms. The law initiators received detailed answers to the questions raised about the project.

Deputies approved the draft law, which ensures the openness and transparency of privatization processes.

Other issues within the jurisdiction of the faction were also discussed at the meeting.