Uzbekistan privatizes certain State companies
29 Apr 2019
On 29 April 2019, the President of Uzbekistan signed the Resolution “On further measures for the improvement of the mechanisms for attracting foreign direct investment to the economy of the Republic of Uzbekistan”. It approved the privatization of 64 State-owned enterprises from the financial, construction, oil and gas, food and alcohol production, chemical and power sectors. Furthermore, the Resolution requires the development of ready-made investment proposals to attract foreign direct investment. These proposals cover 86 projects in the following industries: Energy, petrochemical, metallurgical, electric engineering, machinery, infrastructure, construction, pharmaceutical, agriculture and tourism. Their combined worth is estimated at $ 6.1 billion. Finally, the Resolution provides a list of 15 public-private partnership projects to be developed in 2019. They include the construction of a solar photo-voltaic power station, road infrastructure projects or airport' modernization.
Along the privatization process, the Resolution signals investment promotion and facilitation measures to be undertaken in the coming months. For example, the government of Uzbekistan will host and organize the Tashkent International Investment Forum in fall of 2019. Additionally, the relevant ministries and State agencies are to participate in 9 enumerated international investment events, forums and meetings in 2019, including Geneva, London, Minsk, Paris, Riyadh, Saint Petersburg, Sydney, Verona and Vladivostok. The Agency for Attracting Foreign Investments is responsible for developing the Road Show that would visit major global business and financial hubs. It will also develop a single, coordinated information campaign "Invest in Uzbekistan" to promote "the positive image of Uzbekistan in the global business arena using the latest marketing technologies, creating and promoting an integrated brand of the country and attracting international consultants on strategic communications".
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Type:
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Entry and establishment (Ownership and control)
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Promotion and facilitation (Investment facilitation )
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Promotion and facilitation (Investment facilitation )
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Industry:
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Primary (Agriculture, forestry and fishing, Mining and quarrying)
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Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of coke and refined petroleum products, Manufacture of chemicals and chemical products, Manufacture of basic pharmaceutical products and pharmaceutical preparations, Manufacture of basic metals, Manufacture of fabricated metal products, except machinery and equipment, Manufacture of computer, electronic and optical products, and electrical equipment, Manufacture of machinery and equipment n.e.c.)
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Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Construction, Financial and insurance activities, Arts, entertainment and recreation)
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