UzAuto Motors is preparing for sale
Uzbekistan
UzAuto Motors, Uzbekistan Airways, Uzbektelecom, and dozens of other major state-owned companies will soon become available to investors. Uzbekistan announced the largest wave of privatization in its history, aimed at reforming the economy and attracting foreign capital.
President Shavkat Mirziyoyev signed a decree on the privatization of 29 of the largest state-owned enterprises. Among them are the car manufacturer UzAuto Motors, the gas chemical plant Uzbekistan GTL, metallurgical and energy giants, as well as telecommunications and insurance companies.
Part of the shares of these enterprises will be put up for public auction with the involvement of international consultants. Another 12 state-owned companies, including Uzbekistan Airways, Uzbektelecom, Uztransgaz, NGMK, and AGMK, will conduct IPO and SPO shares on the stock markets.
The main goal is to increase the transparency and efficiency of management, as well as attract strategic investors. Relevant agencies must submit a comprehensive privatization strategy for the period up to 2030 by December 1 of this year.
The large-scale reform opens up opportunities for both foreign and local investors, and also signals Uzbekistan's determination to move towards a market economy with active private sector participation.
Part of the shares of these enterprises will be put up for public auction with the involvement of international consultants. Another 12 state-owned companies, including Uzbekistan Airways, Uzbektelecom, Uztransgaz, NGMK, and AGMK, will conduct IPO and SPO shares on the stock markets.
The main goal is to increase the transparency and efficiency of management, as well as attract strategic investors. Relevant agencies must submit a comprehensive privatization strategy for the period up to 2030 by December 1 of this year.
The large-scale reform opens up opportunities for both foreign and local investors, and also signals Uzbekistan's determination to move towards a market economy with active private sector participation.
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