State assets in Uzbekistan to be sold under accelerated scheme

State assets in Uzbekistan will begin to be sold under an accelerated scheme

In Uzbekistan, a portion of state assets that have remained unsold for a long time will be put up for electronic auctions with a starting price of 1 million soums. For the remaining unsold properties, a new hybrid bidding format will be introduced.

The list of lots with a starting value of 1 million soums has been approved by a separate annex to the new decree of the President of Uzbekistan. State bodies have been instructed to additionally inform the population about such properties through the media, social networks, and assistants to the khokims (governors).

If a state asset cannot be sold within three months, it will be allowed to be sold under a hybrid Anglo-Dutch model. In repeat auctions, the price will first be gradually reduced in steps of 2%, and once a purchase offer is made, it will begin to rise from the amount proposed by the participant.

The timeframes for the auctions themselves will also change. Announcements for regular electronic auctions and tenders will be published 15 days in advance instead of 30, and for repeat ones — five days in advance instead of ten. If only one participant submits an application for a repeat auction, they may be offered to buy the lot at the announced price.

It is also reported that in Uzbekistan, major state universities and republican specialized medical centers are planned to be gradually transformed into business companies.