TASHKENT (UzTAG) — The State Committee for the Promotion of Privatized Enterprises and the Development of Competition has been abolished in Uzbekistan and three new state structures have been created.

These measures are set out in the Presidential Decree on Measures to fundamentally improve the State’s asset management system, antitrust regulation and the capital market.

According to the document, instead of the abolished entity, three new organizations are being set, such as the State Committee for the Protection of Competition (the Antimonopoly Committee), which will work to resolve all tasks related to competition regulation and create a competitive environment; the State Property Management Agency (even abroad), for the resolution of all privatization issues, and the Capital Market Development Agency which deals with market regulation.

The Tax Committee and the Committee on Land Resources, Geodesy, Cartography and Cadastre of the State will focus on the search and identification of empty and undeveloped objects.

In addition, the President ordered the new organizations to develop a plan to improve the standards of the economy and its industries by April 1, 2019, as well as to eliminate clauses in Uzbek legislation limiting the activities of entrepreneurs.

In addition, they are responsible for drawing up by 1 July 2019 an inventory of public companies and deciding on their effective use in the future.