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24 May 2022

Privatization processes in Uzbekistan in the center of attention of the British business community

The authoritative British business publication "Capital Finance International" published an article about the consistent ongoing privatization processes taking place in our country.

Things are different this time. It was noted that despite the pandemic, Uzbekistan became one of the few countries in the world to achieve economic growth in 2020. According to the publication, Tashkent, under the leadership of President Shavkat Mirziyoyev, is striking international analysts with its potential. "In 2021, great success was achieved in the implementation of the privatization program and the corresponding "Road Map" - a new approach to the direction of the securities markets was formed.

A new securities regulator. New agencies responsible for tradable assets have been created, and a number of changes have been made to capital market rules. At the same time, the management of leading state companies is experiencing a quiet revolution thanks to the participation of internationally trained technocrats and ex-bankers, who help them move in the new environment," the publication says.

International consultants are actively involved. From the Navoi Mining and Metallurgical Combine, which owns one of the largest gold deposits in the world, to the national oil and gas flagship, Uzbekneftegaz. They provide 15 percent of Uzbekistan's GDP. International consultants are actively involved in this process.

The main purpose of the program. Although the main goal of Uzbekistan's privatization program is not to replenish the state coffers, the treasury is in fact benefiting from the program, even now, before the biggest selloffs begin.

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