27.03.2025

On March 27 President Shavkat Mirziyoyev held an expanded meeting on privatization of state assets in the current year.

In order to develop entrepreneurship, effectively use buildings and facilities, large-scale work has been carried out in recent years under the privatization program. From 2021 to 2024, state assets worth 47 trillion soums were sold, which is 30 times more than in the previous decade.

As a result, the number of state-owned enterprises was halved and the state's share in the economy was reduced by 13 percent. The efficiency of privatized property has also increased significantly.

Whereas previously it was mainly small enterprises and facilities that were sold, in recent years large assets have started to be auctioned. In particular, such enterprises as "Ferghanaazot", "Kungrad soda plant", "Foton", "Temiryul-container", as well as "International" and "Lotte" hotels were privatized.

Last November, for the first time, a “people's IPO” was held, in which more than 3 million shares of the Commodity Exchange were sold to the public. As a result, 11 thousand citizens became shareholders.

However, there are still shortcomings in this area. There are untapped opportunities in regions and industries. The processes of putting ready objects up for auction are delayed.

For example, a 1.5 thousand hectare plot was put up for auction without a proper analysis of infrastructural opportunities, which has not been sold for more than a year. Approval of 4 thousand plots is also delayed. In 2023, ministries and khokimiyats did not transfer to the Agency for State Assets Management 243 objects subject for sale. 

Low activity is also observed at the level of large state-owned companies. 22 companies, including “Uzavtosanoat”, “Uzkimyosanoat”, “Uzmetkombinat”, “Uzbekneftegaz”, have not yet switched to international financial reporting standards. “Uzbekiston Pochtasi”, “Uzbekiston Airports”, “Uzbekiston Temir Yullari” companies do not hold credit ratings.

The meeting, held in a critical spirit, pointed out the need to address these problems and intensify work. The goals in the field of privatization for 2025 have been defined, in particular:

- sale of state property worth 30 trillion soums and receipt of at least 10 trillion soums to the budget;

- offering for sale the state's shares in 116 enterprises and 581 real estate objects;

- auctioning 6.1 thousand hectares of land and increasing sales up to 6 trillion soums;

- offering no less than 300 fields and plots to investors and bringing in 500 billion soums.

As a result, additional investments will flow into the economy, business opportunities will expand and thousands of new jobs will be created.

It was determined during the meeting that a number of benefits will be provided to achieve these goals.

In particular, entrepreneurs will be able to buy back into ownership the objects that they have leased for at least five years. Currently there are 632 such objects. Their sale to tenants can provide 2 trillion soums of revenues.

The unrealized assets of “Uzpakhtasanoat” - 131 objects - will be re-auctioned with a reduction of the initial cost to 50 percent and the possibility of installments up to three years.

Currently, khokimiyats own at least 51 percent in 537 markets and trade complexes in the country. The norm on mandatory participation of khokimiyats in the ownership of markets will be canceled, which will create additional opportunities for entrepreneurs.

Opportunities for the sale of land plots will also be expanded: small, long unsold and adjacent plots will be combined and re-bid.

There are also positive examples of effective utilization of state assets with increased revenues to the local budget. In Tashkent, an inventory of municipal property has been conducted and an electronic database has been created. 102 inefficient buildings and 97 hectares of vacant land have been identified and have already started to be put up for auction. Last year, 60 billion soums were received from privatization of 118 hectares of land plots under buildings and structures. This is 5 times more compared to 2022.

This experience will be implemented in regional centers this year and in districts next year.

One of the key directions remains the entry of state-owned enterprises into the international market. So far, this practice has proved its effectiveness and has been recognized by international organizations.

The responsible persons were instructed to continue this process with the involvement of experts. This year, it is planned to put the shares of 28 large enterprises on the international markets, and next year - the shares of 10 more large enterprises for public trading.

The Prime Minister has been instructed to approve the relevant “road map” and monitor its implementation on a monthly basis.
Ministers, heads of industries and khokims presented reports on the issues discussed at the meeting.