Uzbekistan to cut number of enterprises with state share
Uzbekistan intends to critically review the level of state involvement in the economy and to reduce it to the strategically and economically reasonable size within the state property privatization program in 2015-2016, Trend reports.
In accordance with the program, Uzbekistan plans to eliminate more than 660 not loaded state-owned enterprises with their subsequent sale to new private owners at public auction, completely sell the state share in 360 non-strategic businesses, as well as implement more than 400 unused state objects at the “zero” value to foreign investors (with their acceptance of investment commitments for the modernization of these enterprises).
Moreover, the program stipulates the reduction of the state's share in 203 existing enterprises to 51 percent through the issuance of additional shares in the amount of 450 billion UZS on the stock market sold to private investors on the stock exchange.
As a result of the program, about 1,000 state objects in Uzbekistan will be sold on an open and transparent auction, and the number of enterprises with the state share in the authorized capital will be reduced from 534 to 147, that is by 3.6 times.
In total, as of January 1, 2015, records of registration 14, 942 shares issues with the volume of emissions worth 19.08 trillion UZS were made in the United State Register of Securities Issues of Uzbekistan.
Currently, the State Central Depository of Uzbekistan stores securities of 1,085 JSC totaling 12.776 trillion UZS. Some 72.5 percent, or 787 companies with the volume of shares worth 7.671 trillion UZS of them, were created on the basis of state property.
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