The State Property Committee :

• Analyses processes related to denationalization and privatization, state property management, entrepreneurship support, and compose proposals on improving the mechanisms of property relations and entrepreneurship support;

• Develops, with attraction of interested ministries, establishments and economic associations, and submits for approval to the Cabinet of Ministers of the Republic of Uzbekistan the drafts of state programs on denationalization and privatization, organizes and coordinates their realization;

• Makes within its competence decisions on denationalization and privatization of state owned objects not included in the corresponding state programs;

• Carries out methodic guidance in the sphere of denationalization and privatization, organization of state property management and entrepreneurship support;

• Provides publicity and transparency of decisions on terms and forms of state property privatization;

• By carrying out the functions of the seller, approves initial price of state owned objects and displays them for auction and tender sales;

• Issues to the new owner an order which certifies right of ownership for privatized property;

• Carries out monitoring for full investments inflow in accordance with taken by the investors investment obligations;

• Acts on behalf of the Republic of Uzbekistan as a founder (participant) of economic entities being created during the process of privatization of state owned enterprises, and, in accordance with the legislation, as the founder of other legal entities being created with participation of government;

• In accordance with the legislation, on behalf of the Republic of Uzbekistan carries out the rights of shareholder (participant) of joint-stock companies (or other economic entities) the blocks of shares (share in the authorized fund) of which are under state ownership;

• In coordination with respective complexes of Cabinet of Ministers prepares proposals on list of economic entities that have a strategic significance for the economy of Uzbekistan, in which the state owned share in authorized funds exceeds 25%, and on nominees for state trustees in these enterprises and introduces them to the special Commission under the Prime-minister of the Republic of Uzbekistan;

• Within its competence, conducts competitive selection of state trustees, trust managers and professional management companies for managing state assets in economic associations that have no strategic significance for the economy of republic, and approves their appointment at the SPC's Board meetings;

• On the basis of the decision of special Commission under the Prime-minister of the Republic of Uzbekistan or Board of SPC concludes agreements with state trustees, trust managers and professional management companies for managing state assets in economic associations;

• Monitors the activity of state trustees, trust managers and professional management companies, rewards them in accordance with the established by the legislation order;

• Prepares and submits to the Cabinet of Ministers proposals on introduction of alterations to the list of economic entities that have a strategic significance;

• Acts as a landlord of state owned property, except for the cases when the right of carrying out such authority is delegated in accordance with the established order to the other state authorities;

• Participates in postprivatization support of enterprises, development and realization of measures for restructuring;

• Participates in realization of state support to the processes of formation and functioning of securities markets, real estate and commodity markets, and development of their infrastructure;

• Develops conceptions and programs for development of private, small and medium entrepreneurship, and mechanisms of their realization;

• Within its competence, carries out measures aimed at implementation of financial support of entities of private entrepreneurship, granting broad access to material and technical resources, markets for their production;

• In participation with interested organizations, develops drafts of laws and other legislative acts on the issues that are within SPC's competence, and approves them in accordance with the established order;

• In accordance with the established order considers complaints and claims of legal and natural entities on the issues of privatization and entrepreneurship support;

• Within its competence, carries out necessary actions on eliminating breaches of the law in the sphere of privatization, management and disposition of state owned objects, brings an action against illegal decisions made by state authorities and calls to account officials, and forwards materials to law-enforcement authorities for corresponding decision making;

• Licenses stock-exchange and valuation activity in accordance with the legislation;

• Implements international cooperation in the sphere of property relations, state property management and entrepreneurship support.