Tuesday, 25, June, 2024

On April 8, President Shavkat Mirziyoyev signed the Next reforms to facilitate stable economic growth by improving the business environment and developing the private sector Decree.

By the document, it is planned to launch the privatization of Uzbekneftegaz by the year-end with the involvement of an experienced investment bank by May 1, including through a public offering of (IPO) of at least 49% shares. Similar work is planned for the state share of 51% or more in Thermal Power Plants.

By September 1, on the basis of conclusions of an international consulting company, the President instructed to submit for approval to the Cabinet of Ministers a strategy for reforming the Uzbekhydroenergo. It is envisaged that in the process of building new small and medium-sized hydroelectric power plants, projects with the participation of the private sector, including those based on public-private partnerships, will now be considered a priority.

Until September 1, it is planned to commence putting up for auction of 51% government’s stake in Uzbekistan Airways, including through an IPO.

By August 1, with the involvement of an international investment bank and consultants, an IPO will be conducted on the local stock market of up to a 10% stake in UzAuto Motors and submit to the government a strategy for selling the rest of this company's share to strategic investors, as well as UzAuto Motors Powertrain and Samarkand Automobile Plant (SamAuto).

Within two months, a draft decree shall be prepared on the transfer of regional international airports subordinate to Uzbekistan Airports and Tashkent International Airport to the management of the private sector under the PPP terms to modernize and increase their operational efficiency. While, measures should be provided for "the effective operation of airports in the Fergana Valley by optimizing them."

A special working group will be engaged in reforming the Committee on Highways. It must, within two months, submit a draft decree on reforming the committee by removing contracting and manufacturing enterprises from its composition for a specific delineation of regulatory and economic functions, demonopolization, attracting private sector enterprises and increasing the efficiency of using budget funds.

By September 1, strategies for reforming Uzbektelecom and Uzbekistan Post shall be developed and submitted to the supervisory boards for approval.

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