BAKU, Azerbaijan, May 19
By Ilkin Seyfaddini – Trend:
State Asset Management Agency of Uzbekistan has developed a draft resolution of the Cabinet of Ministers of Uzbekistan 'On measures to improve the system of information disclosure on enterprises with state participation', Trend reports with reference to the agency.
Ensuring transparency of operations of the enterprises with state participation is one of the conditions for privatization and sale of state shares to investors, including foreign ones, the report said.
From 2021, all enterprises with state participation will have an official website providing economic, financial and other statistics. In particular, information on the state's share in the authorized capital, balance sheet and financial results for the year, production indicators, number of jobs, composition of management and control bodies will be disclosed.
According to the agency, there are about 3,000 enterprises with state participation in the country, and their total nominal value of state shares is 111.4 trillion soum ($10.9 billion), while their share in GDP is 55 percent, and they provide 46 percent of tax revenues to the treasury.
In December 2019, President of Uzbekistan Shavkat Mirziyoyev ordered to significantly reduce the state's share in the economy. Draft strategy for the period from 2020 through 2025, a privatization plan and rules of introduction of corporate governance have been developed.
It is planned to reduce the number of enterprises with state participation by 81 percent, to leave the state only 554 enterprises, and sell or abolish the rest.
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