The International Investment Forum in Tashkent hosted a panel discussion on May 3, about privatization and state assets, gathering esteemed experts and executives from various countries to delve into Uzbekistan's privatization efforts.
The distinguished participants included, Wiebke Schloemer, Regional Director, IFC, Sri Prakash Lohia, Founder and Chairman, Indorama Corporation, Steven Nadherny, Vice President, CNH Industrial, Tek Khoan Ong, Director of Private Equity, Franklin Templeton, Saltanat Sandybayeva, Partner, Transaction Advisory, KPMG Caspian, Akmalhon Ortikov, Director, State Assets Management Agency
Akmalhon Ortikov outlined the current initiatives, emphasizing the priority on establishing the rule of law. He highlighted the enactment of the new Law 'On State Property Management' and the revised Law 'On Privatization of State Property,' which clarifies privatization procedures.
Tek Khoan Ong stressed the importance of broad accessibility to assets, advocating for sales open to both large investors and the general public. He emphasized the importance of democratizing investment opportunities.
Wiebke Schloemer commended Uzbekistan's legislative improvements and expressed support for efforts to cultivate an attractive investment climate.
The panel's insights underscored Uzbekistan's commitment to economic liberalization and its determination to foster a conducive environment for both domestic and foreign investors. With a focus on transparency, accessibility, and legal certainty, Uzbekistan aims to leverage privatization to unlock new avenues for economic growth and development.
Earlier Daryo reported that an agreement was signed on May 2 between the European Bank for Reconstruction and Development (EBRD) and Asakabank, one of Uzbekistan's major banks, for its privatization.
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