Tashkent, Uzbekistan, Oct.24
By Demir Azizov- Trend:
The Government of Uzbekistan has approved the provision on the sale of state-owned facilities at the "zero" purchase price under condition of acceptance of investment and social obligations by the buyer.
The sale of state property at the "zero" purchase price under condition of commitments received by the buyer is carried out at auction, competitive bidding or through direct negotiations, according to the decision of the government.
List of facilities recommended for sale at the "zero" value is approved by the government.
Winner of the competition is the participant whose proposal is considered the most appropriate to the conditions of competition.
If the purchase of the object is claimed by a foreign investor, the territorial competition commission considers proposals on the adequacy and reasonableness of the investment for the effective operation, modernization and restoration of solvency and sustainable development of the state property object.
The purpose of investment and social obligations during the purchase of the state property at "zero" value is to improve the financial and economic state of the object by means of modernization, technical and technological re-equipment of production and control systems, to increase the volume and competitiveness of the products, the creation or increase of jobs.
In particular, investment and social obligations are carried out by investing the cash and reinvesting the earnings, including dividends accrued on its share, or the supply of raw materials and equipment for the modernization of production, or by the repair, construction and installation work, or either full or partial repayment of arrears of the investment object to the state budget, loans and other liabilities.
Deadline for the investment obligations shouldn't exceed 5 years.
Monitoring for the implementation of terms of object sale contract by the buyers is carried out by the seller.
In case of failure to implement the terms of the contract by the buyer, the seller sends a written notice to the buyer about an existing violation of terms of investment commitments in terms provided by the contract, and initiates termination of the contract after the next 3 months.
