Friday, 23, August, 2019

The President Shavkat Mirziyoyev signed the Additional measures to boost the development of Uzbekistan’s automotive industry decree.

The decree has set the task to select the Uzavtosanoat companies until 2023, for which initial public offering (IPO) will be conducted.

“Investments shall be attracted through IPO in the local and international stock markets for at least two joint-stock companies that are part of Uzavtosanoat,” the decree noted.

It is also planned to develop a Strategy for further develop Uzbekistan’s automotive industry until 2023.

Uzavtosanoat’s non-core assets and the enterprises included in its structure, can be sold without an value assessment and put up for auction on the e-trading platform E-IJRO AUKSION at a starting price equal to their book value, taking into account the VAT (for real estate) and actual value (for shares and equity stakes in business entities).

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