BAKU, Azerbaijan, June 17
By Ilkin Seyfaddini - Trend:
A new investment company has been established in Uzbekistan - UzAssets, Trend reports with reference to National Database of Legislation of Uzbekistan.
The founder of the company is the Agency for State Assets Management. Among the main tasks of the company are pre-sale preparation of enterprises with state capital, increasing their investment attractiveness, establishing cooperation with international institutions and companies.
UzAssets will also form the list of investors, holding road-shows by attracting investors and many others.
In the first stage, the company was handed state stakes in several companies for subsequent sale, and in 2021 it is planned to expand the portfolio to 50 assets.
At present, the company owns shares in the following companies: Quartz JSC (89.8 percent), Kyzylkumcement JSC (86.9 percent), Urganch Wine JSC (53.9 percent), Uzbekistan Champagne JSC (51 percent), Uzgeotsvetmet (100 percent), Uzgorstroy (100 percent), Denau Vodka (51 percent), Almazar Small Industrial Zone (73.7 percent), Shahrisabz Star Hotel (100 percent).
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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