PASSED TO RIGHT HANDS

The State Committee of the Republic of Uzbekistan for Privatization, Demonopolization and Development of Competition has held a series of meetings to involve investors and entrepreneurs in purchasing state assets, including at zero cost.

At the meetings, the SCPDDC representatives presented detailed information about state property objects, about favorable conditions and opportunities for investments.

Uzbekistan places much emphasis on the processes of decentralization and privatization as a priority of state policy. The numbers prove a drastic increase of privatized objects in recent years. In 2010-2012, the average number of privatized objects was 100, while in 2014 the figure reached 288, and exceeded 845 in 2015.

570 state property objects were transferred to entrepreneurs at zero cost for investment and social obligations in 2015 alone. The volume of investment obligations under contracts exceeded 1.1 trillion soums and $50 million. The projects envisage creation of 25,000 new jobs.

Meanwhile, many enterprises, which were established on the basis of privatized objects, have already entered the international standard production, focusing on the production of export-oriented and internationally marketable goods.

Tashkent region has been paying close attention to this issue as well. In 11 months of the current year, businessmen purchased idle objects and invested in their development over 135 billion soums and US $19.6 million. These initiatives are expected to provide more than 3,500 new jobs.