Uzbekistan will sell state assets of more than 500 loss-making enterprises for the "zero" value

Almaty. June 2. Silkroadnews - State Committee on privatization, de-monopolization and Competition Development of Uzbekistan will carry out the sale of state assets of 512 unprofitable and low-profit enterprises for "zero" value, reports UzTAG citing a government decree.
The document approves regulations for the sale of state assets of these enterprises in industry and construction with the state share in the authorized capital of more than 50%, which will be sold for "zero" redemption value. At the same time the buyer will have to take certain social and investment commitments. According to the document, this provision does not include the companies of strategic importance for the national economy.
Sale of state-owned assets will be performed through direct negotiations. The contract of sale shall be registered. The buyer has all the rights of a shareholder, except for the right to dispose the shares until he performs all investment and social obligations.
Currently the committee is cooperating with local and foreign investors in almost 140 contracts for the sale of state assets of enterprises. In accordance with these agreements is set to attract investments of about $340 million.