Uzbekistan plans to privatize state-owned stakes in 18 markets, trade complexes and used-car markets across the Namangan, Samarkand, Surkhandarya, Tashkent and Ferghana regions, under a presidential decree issued August 28 aimed at reducing state involvement in the economy and accelerating privatization.
The state holds controlling stakes — ranging from 51 to 68 percent — in most of these enterprises. Local authorities are to propose the terms and procedures for their sale, which will then be finalized by the Agency for Management of State Assets. Proceeds from the sales, after deducting valuation and transaction costs, will go to the relevant local budgets.
Tashkent to fast-track sale of major markets
A separate section of the decree does not introduce new assets for sale but instead accelerates privatization efforts already underway for 15 markets and trade complexes in Tashkent. These include:
The same fast-tracked list includes other enterprises slated for privatization, including several in the oil, gas and chemical sectors.
In July, a separate presidential resolution had already called for putting 12 major markets and trade complexes in Tashkent, along with 23 of their branches, up for auction. Those properties cover a combined 91.94 hectares, with roughly 519,400 square meters of buildings and structures. That earlier list included the Sergeli, Yangiobod, Urikzor, Aviasozlar and Farhad markets, the Kuyluk market, and others.
As a condition of sale, buyers will be required to redevelop the market sites into modern eco-friendly markets, retail and service facilities, entertainment centers and multi-level parking structures. To prepare the properties for sale, the state-run company Tashkent Invest Kompaniyasi has been tasked with developing business plans and master plans for the redevelopment of these sites.
The presidential decree marks a new phase in Uzbekistan's push to shrink state ownership in the economy. In total, the government plans to auction off stakes in 84 business entities, 1,242 real estate properties and roughly 8,000 hectares of land. The combined value of assets slated for sale is estimated at approximately 100 trillion soms, with authorities aiming to raise at least 14 trillion soms from these sales by the end of the year.
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