Uzbekistan looks to speed up privatization of state-owned enterprises with outside help

Uzbekistan Materials 29 March 2023 17:59 (UTC +04:00)
Nazrin Babayeva
Nazrin Babayeva
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BAKU, Azerbaijan, March 29. Uzbekistan and Singapore’s Templeton Asset Management (a subsidiary of Franklin Templeton Investments, NY) have agreed to establish a joint investment fund, which is aimed at facilitating the process of privatization of state-owned enterprises in Uzbekistan, Trend reports via the Ministry of Investment, Industry, and Trade of Uzbekistan.

The matter was discussed between Uzbekistan’s Minister of Investment, Industry, and Trade Laziz Kudratov and the chief investment officer of Templeton Global Equity Investments and the Co-CEO of Templeton Asset Management Manraj Sekhon.

During the talks, the sides also discussed issues of expanding investments from Singapore in Uzbekistan. In this regard following the discussions, the parties dialed to place the company’s shares on the Republican Stock Exchange "Toshkent" in the nearest future.

In addition, Franklin Templeton’s subsidiary plans to establish its office in Uzbekistan’s capital Tashkent city during the upcoming months.

Back in January 2023, Uzbekistan and Singapore discussed the prospects of creating a joint investment company focused on attracting Singapore's direct investment in Uzbekistan’s new projects. The matter was discussed between Uzbekistan’s Minister of Investment and Trade Laziz Kudratov and Chief Executive Officer of Singapore’s CPG International Vincent Loh.