Uzbekistan is moving forward with a sweeping privatization program that will see large state-owned enterprises—including UzAutoMotors, Universal Mobile Systems (UMS, under Mobiuz trademark), and 10 thermal power plants (TPPs)—offered for sale on international markets. A presidential decree formalizing the decision was signed on April 21.
The initiative targets the sale of state shares in companies that are currently operating in cooperation with 29 countries. The assets will be offered through public sales with the help of reputable international consultants. Additionally, share packages from enterprises involving 12 countries will be sold via initial and secondary public offerings (IPO/SPO) on both domestic and global stock exchanges.
The following major enterprises and assets will be sold fully or partially:
- Universal Mobile Systems (UMS) — 100%
- UzAutoMotors — 99.7%
- UzAuto Motors Powertrain — 100%
- Uzbekistan GTL — 100%
- Uzmetkombinat — 91%
- Navoiyazot — 75%
- Ten thermal power plants, including Syrdarya, Tashkent, Navoi, Takhiatash, Turakurgan, New Angren, Angren, Mubarak, and Fergana — 100%
- Technopark — 100%
- Tashkent Tractor Plant — 100%
- Sherabad Cement Plant — 100%
Other enterprises include major insurers such as Uzbekinvest and Uzagrosugurta (Agros Insurance Company), as well as industrial and construction firms like Sharg’unko‘mir (ShargunCoal) and Yulqurilish.
By July 1, 2025, the Ministry of Energy will announce international public auctions for the TPPs, with guarantees for minimum fuel supply volumes.
Furthermore, the Agency for Management of State Assets, in coordination with the Ministry of Economy and Finance, has been tasked with drafting a comprehensive privatization strategy through 2030. This roadmap is expected to be ready by December 1, 2025 and will involve international financial experts and professional consultants.
The initiative is part of a broader push to improve efficiency, attract foreign investment, and reduce the state’s role in the economy. President Shavkat Mirziyoyev previewed these developments during a videoconference on April 9, where he indicated that state shares in 49 enterprises would soon be sold on the global market.
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