Uzbekistan To Privatize State-owned Companies
October 29, 2020 | Investopaper
Uzbekistan has announced the sale of state-owned enterprises and factories to the private sector. Uzbek President Shavkat Mirziyoyev on Wednesday signed an order to sell some state-owned businesses to the private sector. Such a decision has to be taken as a measure to improve the state-owned businesses.
The Uzbek president said there were 32 large state-owned companies in the business sold to the private sector. In addition, 15 other state-owned properties will also be sold. There are about 300 state-owned companies operating in Uzbekistan, including oil and gas, food, communications and information technology. According to the Uzbek law minister, these companies will be completely privatized.
Since Mirziyoyev became President of Uzbekistan in 2016, the government has launched a series of economic reform programs. The government has adopted new policies including liberalization of foreign exchange market, tax cuts and special acceptance of foreign investment.
