Uzbekistan

Uzbekistan

Privatizes assets in banking, telecommunication, and real estate

18 Mar 2022

On 18 March 2022, by Presidential Decree No.PP-168, the President of Uzbekistan adopted measures to further reduce the participation of the State in the economy and accelerate the privatization process. The decree announced the privatization of certain State assets in the banking area (including Qishloq Qurilish Bank JSCB, Uzsanoatkurilishbank JSCB and Asakabank JSCB), in the telecommunication sphere (privatization of Universal Mobile Operator LLC), and the privatization of non-agricultural land plots, flour mills, various State shares and real estate. The decree establishes the privatization procedure, including the involvement of international consulting, audit and investment consultants, investment banks and set deadlines for its realization. It also provides for the possibility of payment in installments.

Nature of measure:
  • Liberalization
Type:
  • Entry and establishment (Ownership and control, Access to land)
Industry:
  • Manufacturing (Manufacture of food products, beverages and tobacco products)
  • Services (Electricity, gas, steam and air conditioning supply, Transportation and storage, Telecommunications, Financial and insurance activities, Real estate activities)
Inward FDI:
No
Outward FDI:
No
Sources: