Lease law update expected

A new draft law "On Lease" is being prepared in Uzbekistan, Kursiv reported.

This was announced by President Shavkat Mirziyoyev during a dialogue with entrepreneurs. According to him, the law in force since 1991 has mainly protected the interests of state bodies.

The new version of the law guarantees equal rights to lessors and lessees. Also, starting from 2026, state assets will be leased for a period of 5 years.

The lease agreement can be terminated at the initiative of the lessee or if the conditions are not fulfilled.

This year, 1.1 trillion soums have been allocated for the rapid development of 16 districts. Of this, $250 million was provided by the World Bank. Next year, $500 million will be directed to projects covering 30 districts.