«The Financial Times» published an article on the privatization program of Uzbekistan
"The Financial Times" published an article “Uzbekistan Privatization Program – Largest Fertilizer Plant”.
“Since 2017, Uzbekistan, the most populous country in Central Asia, has embarked on a major economic transformation—moving from a centrally-controlled to a market-driven economy. Since launching these reforms, Uzbekistan has demonstrated strong economic development, and today it is the fastest growing market in Central Asia.
Another important aspect of ongoing reforms is the privatization of state assets. The current stage of privatization differs from the previous one in that the government of Uzbekistan consciously reduces the role of the state in the economy. The government's determination manifested in the fact that the scale of privatization last year was 8 times higher than in 2020 and more than 3 times higher than in the previous four years and the privatization program for the coming years is even more grandiose.
Privatization scale went beyond this and covered land reforms too. With the enactment of the Law "On privatization of non-agricultural land plots" individuals and legal entities got an opportunity to acquire non-agricultural land plots for business with the right of ownership and lease through the electronic trading platform "E-auksion" based on transparent and competitive bids, which will allow to use land as a financial asset.
Looking to build on this success, the Government of Uzbekistan introduced plans in 2021 to accelerate the privatization of state assets, including the privatization of a number of fertilizer production companies as part of reforms to the country’s chemical industry. These efforts have begun in earnest, with the State Assets Management Agency announcing the privatization of JSC Ferganaazot in February 2022, one of the country's largest producers of nitrogen fertilizers, defoliants, and cellulose acetates”, noted in the article.