Uzbekistan to prepare 50 companies annually for IPOs

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan will launch an acceleration program to prepare major domestic companies for access to capital markets, including initial public offerings (IPOs) and the transition to international financial reporting standards.

The program will select 50 companies annually with annual revenue of more than 1 trillion soums. The information was announced by presidential press secretary Sherzod Asadov following the sixth open dialogue between President Shavkat Mirziyoyev and entrepreneurs.

The state will cover 50% of companies’ costs associated with preparing for IPOs and bringing their financial reporting into line with international standards. Reputable investment banks are expected to be involved in preparing the companies.

The program is expected to enable private companies to raise at least US$1 billion annually from abroad.

According to the announcement, opportunities for Uzbek businesses to access international capital markets have expanded following the placement in 2026 of a 30% stake in the National Investment Fund of Uzbekistan on the Tashkent and London stock exchanges. The fund holds minority stakes in 13 strategic companies.

The open dialogue also addressed workforce training for major investment projects. Mirziyoyev said Uzbekistan implements high-tech projects worth US$50 billion annually. According to the president, each such project should include a component for training the specialists required for its implementation.

“The effectiveness of each project depends not only on technology but also on qualified personnel capable of managing it,” the president said.

A career guidance system for schoolchildren covering 10 fields has already been introduced in Urgench, drawing on the experience of Germany and China. The fields include renewable energy, construction, nursing, agronomy and electrical engineering.

The experience is planned to be expanded to all regions of Uzbekistan.

Entrepreneurs who establish technical schools or take over the management of state technical schools to train specialists according to international standards will be allowed to deduct the relevant expenses from their taxable income.

Under the system, Uzbekistan plans to train 1 million young people in modern professions and provide them with well-paid jobs.