"Hopefully, the Cabinet will be formed within two days' time," Kurmanbek Bakiyev told a news conference after he signed the bill into law.
The republic's news media are actively speculating about who will be appointed to key ministerial posts.
Some outlets have quoted Vice Speaker Kubanychbek Isabekov as saying the bulk of the new Cabinet will remain unchanged, with the ministers of health, justice, culture, finance, defense and the interior retaining their posts.
Under the new system, the Central Asian nation's Cabinet will be headed by the prime minister, the first deputy prime minister and one deputy prime minister. It will include the government chief-of-staff, with the rank of minister.
There will be 14 ministries and five committees, including the ministries of finance, justice, defense, interior affairs, and emergency situations, as well as committees for state defense, migration and employment, and customs.
The new structure also comprises 12 agencies that will report directly to the prime minister, including agencies for religious affairs, tourism, architecture and construction, sports, technology, state procurements, environmental protection, and antimonopoly policy.
In late January, parliament approved Azim Isabekov as prime minister, following a standoff between the president and lawmakers.
Bakiyev nominated Isabekov, who was then serving as agriculture minister, after MPs twice rejected the candidacy of former premier Felix Kulov, who resigned late last year after mass protests in the impoverished ex-Soviet state that forced through a series of amendments to the Constitution.
Fifty-seven of the legislature's 61 members backed Isabekov's nomination, and four voted against.
Speaking on the priorities of the new Cabinet, Isabekov said: "The government's activities should be far from politics, and should focus [instead] on economic and financial development." The government will closely cooperate with parliament on all issues, he added.
Isabekov, 46, an economist by education, held various posts in regional authorities in the early 1990s.
He became President Bakiyev's deputy chief-of-staff following the "tulip revolution" that toppled the longtime leader Askar Akayev in 2005, and was appointed agriculture minister in June 2006.
