Uzbekistan has published its official registry of Public Interest Entities (PIEs), according to the press service of the Ministry of Economy and Finance.
Background: Public Interest Entities (PIEs) include public corporations listed on the stock exchange and cleared for public trading, as well as financial institutions such as banks, microfinance providers, factoring firms, payment operators, investment funds, and asset exchanges.
The category also covers large enterprises with state participation and other commercial companies that, over the past two calendar years, simultaneously maintained total assets and annual net revenue of at least 1 million BRV (412 billion soums), while employing an average annual workforce of no fewer than 500 people.
The registry was jointly compiled by the Ministry of Economy and Finance and the Central Bank, following the formal regulations that dictate PIE classification criteria, financial reporting and auditing requirements, and registry maintenance procedures.
As of June, the registry features 425 organizations. The breakdown includes:
- 96 entities that are publicly listed or have securities cleared for public trading;
- 226 banks, microfinance institutions, factoring firms, payment operators, and other financial organizations;
- 14 investment funds and commodity/stock exchanges;
- 44 enterprises with a state ownership stake of 50% or higher that meet the baseline asset and net revenue thresholds;
- 132 large commercial corporations that over the past two calendar years held assets or generated annual revenue of at least 1 million BRV, alongside a workforce of at least 500 employees.
Companies included in the registry will be required to maintain their accounting records in accordance with International Financial Reporting Standards (IFRS) starting January 1, 2027.
By the end of fiscal year 2028, these entities must prepare their financial statements under IFRS and publish them alongside an independent auditor's report. This timeline applies across the board, except for corporate entities that are already legally mandated to transition to IFRS at an earlier date.
The Ministry of Economy and Finance noted that establishing this registry is designed to elevate the transparency and quality of financial reporting and auditing. It aims to ensure more effective monitoring of enterprises that directly impact the public and investor interests, while simultaneously driving the evolution of corporate governance.
The published registry features a notable array of major private corporations, including Anglesey Food (Korzinka), Uzum and its subsidiaries, Click, Paynet, Payme, Artel Electronics Manufacturing, Akfa Building Materials, Discover Invest Global, Sanoat Energetika Guruhi and its corporate entities, My Freighter, Coca-Cola Ichimligi Uzbekistan, International Beverages Tashkent (Pepsi and other beverage brands), Agromir, Alutex, Darvoza Savdo, Tashkent Trade Center, Nika Farm, and Grand Pharm Trade, among others.
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