13 December 2019

Issues of efficient state assets management discussed

On 11 December 2019, President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting on the effectiveness of enterprises reform with state participation and priorities in this direction.

As the analysis shows, there are 2819 enterprises with a state share in the country. Most of them work based on outdated methods, inefficiently, as a result of which they are not even able to pay dividends.

“We maintain the presence of the state even in those areas in which there is no need for it. There have been no significant shifts in improving the efficiency of management and activities of state enterprises, transferring their functions to the private sector”, said Shavkat Mirziyoyev.

The working groups were instructed to conduct a complete inventory of each enterprise within a month, analyze their profitability, current capacities and prospects, as well as develop concrete plans and proposals for 2020.

It was emphasized that key performance indicators should be developed at each enterprise.

Tasks for improving the system for accruing dividends from the state share and controlling their transfer to the budget were also identified.

Necessity of renewal of approaches to privatization, the transition in this area to the system corresponding to the requirements of a market economy was emphasized.

The importance was noted for training and professional development of specialists in privatization and corporate governance, training enterprise managers with participation of the state.