Uzbekistan providing state support to privatized enterprises

TASHKENT (TCA) — The President of Uzbekistan Shavkat Mirziyoyev on October 27 held a government meeting to review the ongoing work on improving the state policy for development of private entrepreneurship on the basis of privatized state property, and state support for privatized business entities, the official Jahon information agency reported.

It was noted that a systematic dialogue has been established between state bodies and entrepreneurs. Reliable legal guarantees are established for the consistent support of small business and private entrepreneurship as an important factor in the sustainable development of the country’s economy, creating new workplaces and improving the welfare of the population.

During his recent trips to Uzbekistan’s regions, the President criticized the inefficient use of production opportunities of privatized facilities.

Analysis of almost 40 thousand privatized objects has revealed that 3,900 of them are empty or not fully used. Projects and road maps have been developed to restore activities of 2,700 of these facilities or to establish new production facilities on their basis.

Investments in the amount of 2.7 trillion Uzbek soums will be attracted within the framework of these projects, more than 25 thousand workplaces will be created. To date, the activity of 420 enterprises has been restored, and operation of 1,800 facilities will be restored until the end of the year.

The President’s decree “On establishment of the State Committee of the Republic of Uzbekistan for assistance to privatized enterprises and development of competition”, of April 18, 2017, serves as an important factor in this sphere.

In the current year, 408 public facilities have been sold to private owners. Of these, 278 were transferred at zero cost on condition of new owners investing 1.6 trillion soums and creating more than 10 thousand workplaces.

Currently, 388 state facilities are on sale, of which 161 are to be offered at zero cost.

Sergey Kwan

TCA