OREANDA-NEWS. On November 18, 2008 President of Uzbekistan Islam Karimov signed a decree on measures to increase the financial stability of the enterprises of the real sector of the economy, reported the Official website www.gov.uz.

The document is aimed at increasing the level of capitalization and financial stability of the real sector enterprises, improvement of the mechanisms of financial recovery and management of weak enterprises, and wide attraction of investments, including funds of the commercial banks, in the process of structural reforms of the economy, and modernization and re-equipment of the production.

In accordance with the decree of the head of the state, the minimum size of the charter capital of the newly created open and closed joint-stock companies starting from 1 January 2009 should be equivalent to USD 400,000. The existing open and closed joint-stock companies have to increase their charter funds to the named sum until 1 January 2010 or change their form of ownership to private.

The decree envisages improvement of the mechanism of the financial recovery of the economically weak enterprises, which includes:

realization of bankrupt production enterprises to commercial banks through auctions and contests;

acceptation by banks of investment obligations to ensure financial recovery and renewal of bankrupt enterprises, their modernization and organization of manufacture of competitive production;

further sale of enterprises to strategic investors at market price.