Uzbekistan updates privatization plan-Xinhua

Uzbekistan updates privatization plan

Source: Xinhua| 2023-03-25 19:33:00|Editor: huaxia

TASHKENT, March 25 (Xinhua) -- Uzbek President Shavkat Mirziyoyev has approved a new plan to accelerate the privatization of state assets, which allows individuals to buy state shares and assets for the very first time, his press service said Saturday.

Under the updated plan, state shares in 1,000 enterprises and 1,000 real estate objects will be put up for sale this year, and the term of preparation for the sale will be reduced from the current 80 days to 48 days, the service said in a report.

Uzbekistan, with a population of 36 million, will also start a program called "people's IPO (initial public offering)," to allow people to buy state shares of the 40 largest national companies with an average yield of 2 percent, including shares of the biggest gold mining companies and banks, said the report.

The government hopes that the new move will provide budget revenues amounting to 13 trillion soums (1.1 billion U.S. dollars) in 2023, and create 3,000 new enterprises and 50,000 jobs.