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Uzbekistan To Adopt The Law On Public-Private Partnership

Thursday, June 15, 2017 - 01:40

In October 2017, Uzbekistan plans to adopt a law on public-private partnership. The relevant draft law has been published online for public discussion. In accordance with the schedule drawn up by the Ministry of Justice of the Republic, the new law will be adopted and put into effect before the end of October.

 

As follows from the text of the document, the new law should extend the practice of public-private partnership (PPP) to 16 areas of activity, including innovative, scientific, technical, agro-industrial, medical, housing, communal and several other spheres.

 

In accordance with the draft law, PPP agreements will specify the object and subject of the agreement, the obligations and rights of the parties, the conditions and types of financial and property provision, as well as the description of the object, including its technical and economic parameters. The agreement will also include the parties' obligations in terms of providing the private partner with the property intended for carrying out the activities; the conditions and procedure for financing the project; the procedure for making settlements between the parties to the document.

 

The draft law defines the procedure for implementing the PPP agreement, and the requirements to such agreements. The document also strengthens the state support and guarantees related to public-private partnership.

 

“The adoption of the draft law on PPP in Uzbekistan will facilitate the process of stimulating entrepreneurial initiatives, especially in socially important sectors of the economy,” says the text of the explanatory note provided by the Ministry of Justice of the Republic.



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