Uzbekistan eyes $437M in privatization deals by summer

Uzbekistan Materials 25 February 2016 10:56 (UTC +04:00)

Tashkent, Uzbekistan, Feb. 25

By Demir Azizov- Trend:

Uzbekistan hopes it will begin to see the first dividends of a privatization drive as early as this summer with the sale of state-owned assets in 55 enterprises.

A decree signed by President Islam Karimov estimated that the privatizations could raise up to $437 million.

Those acquisitions would cement agreements reached during an international investment forum that took place in the Uzbek capital, Tashkent, in November 2015.

A government commission has been formed to oversee the privatization process and will be headed by Uzbekistan's most prominent proponent of economic liberalization, Finance Minister Rustam Azimov.

Negotiations on acquisitions between Azimov's commission and investors should either be concluded by March 1 or the assets will be offered to alternative buyers by July 1, 2016.