TASHKENT (TCA) — President of Uzbekistan Shavkat Mirziyoyev signed a new law on August 13 which allows the privatization of non-agricultural land for the first time in the country’s history, Xinhua news agency reported.
The law was approved in May by the Senate of Uzbekistan’s parliament, and will come into force on March 1, 2020.
Previously, all land in Uzbekistan belonged to the state, the most populous country in Central Asia with over 33 million people.
Uzbekistan’s officials said earlier that the law has a historic significance for the development of the country’s economy; without land ownership, the market economy will not be complete, they said.
According to the new law, legal entities and citizens of Uzbekistan will have the right to privatize land plots for running businesses and individual housing construction.