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Uzbekistan has approved a set of measures to create favorable conditions for efficient and rational use of uncompleted construction sites and unused production facilities, invest and establish modern production facilities, and create new jobs.
The Action Strategy for Five Priority Development Directions for 2017-2021 envisages the further expansion and simplification of state property privatization procedures, as well as creation of favorable conditions for the development of private entrepreneurship on the basis of privatized state property objects.
In this context, accelerated involvement of previously privatized uncompleted objects and idle production facilities in business activities ranks among major objectives of the new range of measures.
For example, commercial banks will now provide concessional loans to legal entities and individuals, as well as tenants who implement investment projects on uncompleted and unused facilities for up to 5 years, with a grace period of 12 months and at a rate not exceeding the Refinancing rate of the Central Bank.
Besides, there are plans to establish regional interdepartmental commissions on inventory and identification of such objects. The corresponding territorial departments of the State Committee for Demonopolization and Development of Competition were assigned to be their working bodies.
The commissions will mainly deal with identification of unfinished construction sites and idle production facilities in the respective territory jointly with their owners, development of investment projects on the establishment of manufactures, as well as on the creation of new jobs.
Another important mission comes to providing assistance in obtaining business permits and loans from commercial banks for the implementation of investment projects.
The package of measures provides for the approval of specific road maps, as well as the introduction of a mechanism of accelerated involvement of previously privatized uncompleted facilities and unused production facilities in business activities.
