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Home / Business and Innovation / Uzbekistan Is Preparing for the Extensive Privatiz...

Uzbekistan Is Preparing for the Extensive Privatization

The works are being carried out on radical reduction of the state’s presence in sectors and areas of the real economy.

In compliance with the resolution of Islam Karimov there has been compiled a list of facilities subject to sale to investors. The government is going to fully realize to private ownership at public auction unused objects, low-profit and idle organizations, on which the procedure of liquidation or bankruptcy initiated.

Today, 364 joint-stock companies in Uzbekistan identified as failed, and subject to liquidation or transformation into other organizational and legal forms. The state shares and assets in the authorized capital of enterprises will be sold to foreign investors.

As to the state property to be demolished, its schedule will be approved within a month, and then released lands will be provided to business entities with the established procedure.

The document instructed the Commission to improve the efficiency of joint stock companies and improve the corporate governance system to approve the schedules for the evaluation and placing the assets on auction, which are subject to the sale to strategic foreign investors.

The procedure is getting established in compliance with which the state unitary enterprises could be created only in exceptional cases by the decision of the government of Uzbekistan.

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