The draft was developed by the Ministry of Economy, and the discussion period will last until February 7, 2026.
As part of the proposed changes, it is planned to clarify the mechanisms for determining the market value of state property objects that are transferred to investors under investment agreements concluded based on direct negotiations with the Cabinet of Ministers.
Key points of the proposed changes:
- When determining the market value of such objects, it is necessary to consider the terms of the investment agreement, including the volume and composition of the rights being transferred, the obligations of the parties, and other important aspects;
- It is permitted to use the recommendations of the owner of the state property regarding the value of the object and the investment project as additional information;
- It is stated that taking into account the terms of the investment agreement is not a basis for classifying a determined value as investment, special, or other non-market value.
- Furthermore, it is proposed to supplement the standard for the valuation of real estate: when valuing objects transferred under investment agreements, the appraiser must consider the economic consequences of the terms of the contract (including the rights and obligations being transferred).
It is also planned to specify in the requirements for the content of the valuation report that the report for the implementation of the investment agreement must include:
- the composition and volume of rights that will be transferred to the investor;
- a list of the obligations of the parties;
- an estimate of the costs incurred by the investor.
