Senate approves law “On Public-Private Partnership”

Tashkent, Uzbekistan (UzDaily.com) -- On 3 May 2019, the Law “On Public-Private Partnership” was approved at the nineteenth plenary session of the Senate of the Oliy Majlis of the Republic of Uzbekistan.

According to the law, the public-private partnership project is a set of measures for the attraction of private investments and introduction of advanced governance practices to address economic, social and infrastructural tasks.

The Law also defines the basic principles and directions of the state policy in the field of public-private partnership, and regulates the order and requirements for the implementation of cooperation in this area.

Public-private partnership is a partnership between the state and business entities based on joining their resources for implementing a public-private partnership project.

In accordance with the law, the Agency for the Development of Public-Private Partnership under the Ministry of Finance has been designated as the public authority in the field of public-private partnership.

It is stipulated that the law will come into force in a month from the date of its official publication.