Over 1,000 JSCs can change form of property in Uzbekistan in 2010
Uzbekistan, Tashkent, Jan. 8 / Trend D. Azizov /
As of early 2010, authorized funds of 424 of 1,619 joint-stock companies were formed in the required amount - $400,000 in Uzbekistan, the Central Depository of the Uzbek Republic said.
A minimal amount of the authorized fund was fixed by Uzbek President Islam Karimov's decree "Measures on further improvement of enterprises' financial stability of the real sector of economy", adopted in November 2008. This amount was determined for newly established joint stock companies to the amount of $400,000 at the rate of the Central Bank on the date of state registration.
In accordance with the decree, operating open and closed joint stock companies were obliged to to bring their authorized funds to the desired amount, or ensure the transition to private ownership till January 1.
Before the decree was approved, a minimal amount of all forms of joint-stock companies' authorized capital was established to the amount of $50,000.
According to the Central Depository, about 170 companies with a total amount of authorized funds worth 87.7 billion soums, or 1.5 percent, have the potential to bring their authorized funds to the amount stipulated by the decree.
About 1,025 companies, with their total authorized fund worth 78 billion sums, or 1.3 percent of the authorized funds of all societies, are unlikely to reach the amount required by the decree, the Central Depository experts said.