Uzbekistan is launching an acceleration program aimed at preparing large domestic enterprises for access to capital markets, including Initial Public Offerings (IPOs) and transitioning to international financial reporting standards.
According to information shared by Presidential Press Secretary Shirzodom Asadov after the sixth open dialogue between President Shavkat Mirziyoyev and entrepreneurs, the program will select 50 companies annually whose annual revenue exceeds 1 trillion soums.
The state will cover 50% of the costs for companies related to IPO preparation and bringing their financial statements into compliance with international standards. Reputable investment banks are expected to participate in the companies' preparation.
It is anticipated that thanks to this program, private companies will be able to attract at least $1 billion USD annually from abroad.
The announcement also noted that the opportunities for Uzbek businesses to enter international capital markets have expanded following the placement of a 30% stake in the National Investment Fund of Uzbekistan on the Tokyo and London stock exchanges in 2026. This fund holds minority stakes in 13 strategic companies.
The open dialogue also addressed workforce training for large investment projects. Mirziyoyev stated that Uzbekistan is implementing high-tech projects worth $50 billion USD annually. According to the president, each such project must include a component for training specialists necessary for its implementation.
The president emphasized that 'the effectiveness of each project depends not only on technology but also on qualified personnel capable of managing it.'
A career counseling system for schoolchildren covering 10 fields has already been implemented in Urgench, based on the experience of Germany and China. These fields include agronomy, construction, nursing, renewable energy, and electrical engineering.
This experience is planned to be extended to all regions of Uzbekistan. Entrepreneurs who establish technical schools or take over the management of state technical schools to train specialists according to international standards will be allowed to deduct corresponding expenses from taxable income.
Under this system, Uzbekistan aims to train 1 million young people in modern professions and provide them with well-paid jobs.