Uzbekistan to put more than $8 billion in state assets up for privatization

Uzbekistan plans to put state assets worth 100 trillion soums (more than $8 billion) up for open auction, as part of a new privatization drive aimed at reducing the state’s role in the economy. President Shavkat Mirziyoyev approved the list in a decree signed on August 28, Fergana news agency reported, citing the press service of the Agency for State Asset Management (ASAM). The list includes state stakes in 84 companies, 1,242 real estate properties and around 8,000 hectares of land designated for business and urban development. The authorities also plan to liquidate or reorganize 85 state-owned enterprises. Among the largest assets are 98. 9% of Turonbank , 100% of Xalq Sug’urta insurance company and 100% of Humo Air . Humo Air is scheduled to be sold in 2026–2027. The list also includes a 91. 83% stake in Uzexpocenter and 79.

27% of the International Business Center , along with stakes in industrial, transport and trade companies. The government expects privatization to generate at least 14 trillion soums ($1. 17 billion) for the state budget by the end of 2026 . More flexible sale terms Under the new rules, the required advance payment for state assets has been reduced from 35% to 15% , with the remaining amount payable in interest-free installments. Buyers of large assets who pay the full price within six months can receive a 25% discount . Installment plans of up to seven years will also be available under certain conditions. If an asset is not sold within three months, its price may be gradually reduced. Some assets may be offered through hybrid auctions, where the price first falls and then rises during bidding. The government also plans to make land more attractive to investors by offering plots as “ready packages,” including technical specifications for utility…