Uzbekistan Privatization: Unsold State Assets Relisted With $85 Opening Bids

Uzbekistan has begun putting previously unsold state assets back on the market, with opening bids starting at 1 million Uzbek soums, or about $85. The first lots include stakes in small companies, a district laboratory, vacant buildings, and a former mineral fertilizer warehouse. That figure is the opening bid in an electronic auction, not a valuation of the property. The final price will be determined by bidding. The new rules took effect on September 8 and cover 84 previously unsold assets. They are part of a new privatization package approved by President Shavkat Mirziyoyev on August 28. The government also plans to offer stakes in another 84 companies, 1,242 real estate properties, and about 8,000 hectares of land. The package also calls for 85 enterprises to be liquidated or reorganized. Among the first offerings is a 100% stake in Bukhsu Scientific Biotechnology, a limited liability company registered in Bukhara. Despite its name, the state registry lists its activity as auxiliary services in the field of education. Another lot is a 100% stake in Yangiyo‘l tuman laboratoriya, a district laboratory in Yangiyul District, Tashkent Region. The state had already tried to sell it, offering the stake for about $820 in May 2026, but no buyer emerged. Also for sale are a 100% stake in Iqtisod-Moliya and a 30% stake in Ferula Shifobaxsh. The latter is associated with agriculture and is currently listed in the state registry as inactive. The real estate lots include retail premises, vacant buildings, and a former warehouse used to store and distribute mineral fertilizers. In Samarkand Region, authorities separately announced the renewed sale of five properties in the Narpay, Kattakurgan, Pakhtachi, and Urgut districts. All of the assets have been offered for sale before without success. Uzbekistan has been selling state-owned companies, banks, real estate, and land for years. Large transactions attract international capital. Alongside them, however, is a less visible part of the state economy: small businesses and properties with no obvious buyer. The problem predates the latest decree. As of April 1, 2025, more than 3,600 state assets remained on sale with a combined starting value of about $1.4 billion. Prices had been reduced for 440 assets after they remained unsold for more than three months. In 153 cases, prices had been cut by 70–90%. In 2024, Mirziyoyev criticized slow sales and inflated valuations of some state property. A new privatization program at the time included stakes in hundreds of enterprises and more than 1,000 real estate properties. The latest decree accelerates the process. After three months without a buyer, the price of an asset can be reduced in stages. Some properties can also be sold through a hybrid auction, in which the price falls until a bidder emerges and then rises as participants compete. Payment terms are also changing. Buyers need to make an initial payment of only 15%, with the remainder payable in interest-free installments. If 35% is paid within the first three months, the balance can be spread over up to five...