A panel discussion took place on the topic “Privatization and state assets: new opportunities for investment”

At the International Investment Forum in Tashkent, a panel discussion “Privatization and state assets: new horizons for investment” was held. This was reported by the PR center of MIIT.

The event brought together prominent experts and executives from different countries.

Among the participants were:

• Wiebke Schloemer, Regional Director, IFC
• Sri Prakash Lohia, Founder and Chairman, Indorama Corporation
• Steven Nadherny, Vice President, CNH Industrial
• Tek Khoan Ong, Director of Private Equity, Franklin Templeton
• Saltanat Sandybayeva, Partner, Transaction Advisory, KPMG Caspian
• Akmalhon Ortikov, Director, State Assets Management Agency

The experts discussed reforms implemented in Uzbekistan that are aimed at reducing state participation in the economy and encouraging private ownership through privatization of state assets. Strategies and prospects for attracting foreign investment were also considered.

Akmalhon Ortikov shared his vision of the current work: “First of all, we are focused on ensuring the rule of law. A new Law ‘On State Property Management’ has been enacted, which defines the rules of the game in the market. Also, the Law ‘On Privatization of State Property’ has been revised, which clarifies the privatization procedures and will become effective on 15 May. Our goal is to speed up the process of entering the international market. This year we plan to sell 250 state enterprises and more than a thousand buildings”.

In addition, in 2024 it is planned to privatize 1,030 state real estate properties, as well as 6,098 hectares of land.

Tek Khoan Ong added that it is important to make assets available to the general public: “Asset sales should be open not only to large investors, but also to ordinary citizens so that everyone can take advantage of this opportunity”.

Wiebke Schloemer expressed support for Uzbekistan’s efforts to improve the legislative framework and create a favorable investment environment.