Priority tasks in the field of privatization were discussed

On March 27, President Shavkat Mirziyoyev held an extended meeting on the priority tasks of privatization of state property for the current year, the press service of the head of our state reports.

In order to develop entrepreneurship, efficient use of buildings and structures, large-scale work has been carried out in recent years within the framework of the privatization program. From 2021 to 2024, state assets worth 47 trillion soums were sold – this is 30 times more than in the previous decade.

As a result, the number of enterprises with a state share has halved, and the state’s share in the economy – by 13 percent. The efficiency of privatized property has also increased significantly.

If previously mainly small enterprises and facilities were sold, then in recent years large assets have begun to be put up for auction. In particular, such enterprises as Ferganaazot, Kungrad Soda Plant, Foton, Temiryul-Container, as well as the International and Lotte hotels were privatized.

In November last year, the first “people’s IPO” was held, during which more than 3 million shares of the Commodity and Raw Materials Exchange were sold to the population. As a result, 11 thousand citizens became shareholders.

However, there are still shortcomings in this area. There are unused opportunities in the regions and industries. The process of putting completed objects up for auction is delayed.

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

Low activity is also observed at the level of large state-owned companies. 22 enterprises, including Uzavtosanoat, Uzkimyosanoat, Uzmetkombinat, Uzbekneftegaz, have not yet switched to international financial reporting standards. The companies “Uzbekistan Post Office”, “Uzbekistan Airports”, “Uzbekistan Railways” do not have credit ratings.

At the meeting, which was held in a critical spirit, it was pointed out that these problems need to be addressed and work intensified. Privatization goals for 2025 were defined, in particular:

– sale of state property in the amount of 30 trillion soums and receipt of at least 10 trillion soums to the budget;

– putting up for sale state shares in 116 enterprises and 581 real estate objects;

– putting up for auction 6.1 thousand hectares of land and increasing sales to 6 trillion soums;

– offering at least 300 deposits and sites to investors and receipt of 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.

At the meeting, it was determined that a number of benefits will be provided to achieve these goals.

In particular, entrepreneurs will be able to buy out the properties they have leased for at least five years. Currently, there are 632 such properties. Their sale to tenants can provide 2 trillion soums in revenue.

The unsold assets of Uzpakhtasanoat – 131 properties – will be re-listed for auction with a reduction in the initial price of up to 50 percent and the possibility of an installment plan of up to three years.

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

Opportunities for selling land plots will also expand: small, long-standing and adjacent plots will be combined and re-listed for auction.

There are also positive examples of the efficient use of state assets with increased revenues to the local budget. An inventory of municipal property was conducted in Tashkent, an electronic database was created. 102 inefficient buildings and 97 hectares of free land were identified, which have already begun to be put up for auction. Last year, 60 billion soums were received from the privatization of 118 hectares of land under buildings and structures. This is 5 times more than in 2022.

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

One of the key areas remains the entry of state-owned enterprises into the international market. To date, this practice has proven its effectiveness and has been recognized by international organizations.

Responsible persons have been instructed to continue this process with the involvement of experts. This year, it is planned to put 28 shares on international markets, and next year, shares of another 10 large enterprises will be put up for public auction.

The Prime Minister was instructed to approve the relevant “road map” and monitor its implementation on a monthly basis.

Ministers, industry leaders and khokims presented reports on the issues discussed at the meeting.