The lease law in Uzbekistan is being prepared in a new format

A new draft law "On Rent" is being prepared in Uzbekistan. This was reported by Zamin.uz.

President Shavkat Mirziyoyev announced this during a meeting with entrepreneurs. According to him, the current law has been in effect since 1991 and was mainly aimed at protecting the interests of state bodies.

In the new draft law, the rights of the lessor and the lessee will be equally protected. Additionally, starting from 2026, state assets are planned to be leased for a period of 5 years.

The lease agreement can be terminated at the initiative of the lessee or if its conditions are not met. During this year, 1.1 trillion soms have been allocated for the rapid development of 16 districts, of which 250 million dollars were provided by the World Bank.

Next year, funds amounting to 500 million dollars will be directed to projects covering 30 districts. Source: Kursiv.uz.