TASHKENT, Uzbekistan, August 28. Uzbekistan has adopted a presidential decree, according to which the country has created the National Investment Fund, Trend reports.
According to the document, the National Investment Fund will operate in the form of a joint stock company. Uzbekistan's Ministry of Economy and Finance will become its shareholder before the public offering of shares.
The Fund is focused on increasing the market value of net assets, placing shares on leading foreign stock exchanges, and attracting international institutional investors to participate in the privatization of assets.
In addition, the Fund will implement corporate governance standards of the Organization for Economic Cooperation and Development and transition to international financial reporting standards. It is also planned to participate in the implementation of environmental, social, and corporate governance standards.
Within the framework of the decree the list of enterprises and commercial banks, the state share in which will be transferred to form the authorized capital of the Fund, was approved. According to the document, no less than 50 percent of the net profit of the Fund's investment assets until 2030 will be allocated for dividends.