Uzbekistan and Germany Discuss Prospects for Reform and Privatization of State Assets

Tashkent, Uzbekistan (UzDaily.com) — On 2 October 2025, at the initiative of the German Agency for International Cooperation (GIZ), a meeting was held between the leadership of Uzbekistan’s Agency for State Asset Management and a German delegation headed by Dr. Andreas Kerst, Director of the Department of the Federal Ministry of Finance of Germany.

In recent years, the Agency has actively collaborated with GIZ: with the support of German experts, seminars and roundtables have been conducted, draft legislation reviewed, and study visits to Germany organized for representatives of senior state bodies and the Agency to exchange experience.

The meeting also involved Matthias Nem of Indecon Consulting (Germany) and Uzbek expert Bahodir Atakhanov, engaged with the support of the Asian Development Bank for developing the “Strategy for Reform and Privatization of State Enterprises for 2026–2030.” The discussions focused on elevating bilateral cooperation to a new level and identifying prospective directions in state asset management.

Participants thoroughly examined effective management of state assets, including state-owned real estate, acceleration of privatization processes, improving legislation based on international experience, and implementing modern corporate governance systems in enterprises using German practices.

Special attention was given to the role of German partners, including Indecon Consulting, in drafting a new version of the Law “On Joint-Stock Companies” and the Corporate Governance Code, which represents a crucial step in forming a transparent and efficient management system in the country.

It was also noted that the Agency continues working on the “Strategy for Reform and Privatization of State Enterprises for 2026–2030,” which will serve as a key plan to reduce the number of state-owned enterprises, expand the private sector, and enhance asset management systems. Cooperation with German experts in this process will continue.

The meeting also featured a detailed presentation of the Federal Agency for Real Estate Management of Germany (BiMA) and discussions on the transformation of large holdings, including transferring subsidiaries and services to the private sector.

Participants emphasized that implementing an advanced model of state property management, adapted to Uzbekistan’s context, alongside digitalization, will mark a new stage in developing the country’s state ownership management system.

At the conclusion of the talks, participants expressed readiness to further deepen reforms in state asset management, increase private sector participation, and implement joint projects aimed at the strategic development of long-term partnership between Uzbekistan and Germany.