Some state assets in Uzbekistan proposed to investors at zero cost

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TASHKENT (TCA) — The State Committee of Uzbekistan for Privatization, Demonopolization and Competition Development jointly with the Tashkent Region administration late in December held a series of meetings with entrepreneurs in order to attract them to purchase state assets, including at zero cost, against investment commitments, the Jahon information agency reported.

The entrepreneurs received detailed information about state property objects, available conditions and opportunities for investment.

The number of privatized objects has increased dramatically in Uzbekistan in recent years.

In 2015 alone, 570 objects of state property were given to entrepreneurs at zero cost under investment and social commitments, with the volume of commitments under contracts amounting to 1.1 trillion soums and $50 million. This, in turn, resulted in the creation of more than 25 thousand jobs.

Production established on the basis of privatized assets is export-oriented and competitive in global markets.

The Tashkent region pays great attention to attracting investors from the private sector to acquisition of idle and unused properties proposed at zero cost.

In January-November 2016, the Tashkent territorial office of the Committee proposed 171 idle and unused properties at zero cost.

As a result of the establishment of new types of production and services, the total amount of investments amounted to 135 billion soums and $19.6 million, which provided for the creation of more than 3.5 thousand new jobs.

To date, there are 34 state-owned objects offered to entrepreneurs against investment commitments.

Sergey Kwan

TCA