Economic Leap: Uzbekistan to Sell Shares of Strategic Giants for $2.4 Billion
Economy
Uzbekistan is preparing for an unprecedented entry into global financial markets. In May, the National Investment Fund (UzNIF) will launch an IPO, offering 30% of its assets valued at $2.4 billion. President Shavkat Mirziyoyev announced this on April 24, emphasizing that this move will propel the national economy to a new level on the international stage.
The dual listing in London and Tashkent has been coordinated with Franklin Templeton, which currently manages 13 of Uzbekistan's strategic state enterprises, including Uzbekistan Airways and Uztelecom. Global investment giants, such as BlackRock, have already committed as "anchor investors," pledging to purchase $300 million worth of the fund's securities.
This historic event comes amid robust macroeconomic performance. According to the President, Uzbekistan's GDP growth accelerated to 8.7% in the first quarter of 2026, while annual inflation dropped to 7.1%. Budget revenues surged by 35%, reaching 103 trillion soums. Despite a pause in gold exports, foreign direct investment reached a staggering $13.7 billion, underscoring the strong confidence of international markets in the country's ongoing reforms.
This historic event comes amid robust macroeconomic performance. According to the President, Uzbekistan's GDP growth accelerated to 8.7% in the first quarter of 2026, while annual inflation dropped to 7.1%. Budget revenues surged by 35%, reaching 103 trillion soums. Despite a pause in gold exports, foreign direct investment reached a staggering $13.7 billion, underscoring the strong confidence of international markets in the country's ongoing reforms.
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