The program for privatizing state assets will be significantly expanded in Uzbekistan. As part of this initiative, controlling stakes in Turonbank, the 'Uzexpo Center' exhibition complex, and the International Cooperation Center are being put up for open auction. Furthermore, plans include transferring large industrial and financial enterprises into private ownership.
The decision to transfer these assets to investors was formalized by a presidential decree dated August 28. According to this document, state shares in 84 economic societies, 1,242 real estate objects, and about 8 thousand hectares of land will be offered for auction. The total estimated value of the proposed assets is 100 trillion soums.
Specifically, the state intends to realize 98.9% of Turonbank's shares, 91.83% of 'Uzexpo Center,' and 79.27% of the International Cooperation Center. Regarding the latter two entities, the concepts and terms of their sale require additional approval from the Presidential Administration.
The insurance company Xalq Sug’urta, the Tashkent Plant for Passenger Wagon Construction and Repair, the Andijan Mechanical Plant, as well as a number of joint and technological enterprises are slated for full privatization. The program will cover enterprises in the road sector, regional markets, and trade complexes. Additionally, 85 state-participating enterprises are expected to undergo either liquidation or reorganization.
To increase buyer interest, authorities have reduced financial requirements: the minimum advance payment has been lowered from 35% to 15%, and no interest will be charged on the remaining amount. An investor who pays for the property in full within six months will receive a 25% discount, and if a large initial deposit is made, they will be allowed an interest-free installment plan for a period of five to seven years.
This latest phase of sales continues the trend toward a massive reduction of state participation in the country's economy. For comparison, between 2020 and 2025, the volume of privatization reached 77.6 trillion soums, whereas in the previous decade, this figure was only 1.1 trillion soums. For 2021–2025, the share of state-owned enterprises has already decreased by 61%. Currently, about 1.5 million objects have been listed on the E-auksion electronic platform, of which more than 1.2 million have been successfully sold.
By 2030, Uzbek leadership aims to increase the share of the non-state sector in the economy to 85% and reduce the number of state-owned companies almost sixfold. It was previously reported that a state stake in Gold Moon Tashkent, which owns the Fonon jewelry factory, was also put up for sale; the initial price for this asset was set at 316.7 billion soums.