Uzbekistan’s state asset privatization rises 55-fold

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan’s privatization proceeds reached 77.6 trillion soums in 2020–2025, compared with 1.1 trillion soums over the previous 10 years, as the country expands the role of private capital and reduces state participation in the economy, the State Assets Management Agency’s press service said.

The reforms are based on the Law on State Property Management adopted in 2023 and the Law on Privatization of State Property adopted in 2024.

The volume of privatization has increased significantly in recent years. While proceeds from privatization amounted to 1.1 trillion soums in the decade preceding 2020, the figure reached 77.6 trillion soums in 2020–2025.

At the same time, Uzbekistan has introduced new mechanisms for managing state-owned enterprises. The application of the “Sell or Explain” principle reduced the number of enterprises with state participation by 61% between 2021 and 2025.

The government has also focused on attracting private and foreign capital through the privatization of major and strategic assets. Coca-Cola Uzbekistan was sold for US$252 million, Ipoteka Bank for US$324 million, and a 75.2% state stake in Samarkand Automobile Plant for US$80 million.

The reforms also cover the real estate and land markets. A new Law on Real Estate Activities adopted in 2026 provides for a more transparent and digital regulatory framework, including the creation of a Unified Register of market participants and the introduction of a multiple listing system.

The system is intended to allow real estate organizations to operate through a “one-stop shop” and provide services ranging from transaction support and trade organization to trust management, information, consulting and advertising services.

The land market has also expanded. Between 2022 and 2025, the volume of land plots offered and sold at auctions based on ownership and lease rights increased almost fourfold.

In the first half of 2026, 1,800 hectares of land were sold, significantly exceeding the figure for the whole of 2022. The number of applications from individuals and legal entities to privatize non-agricultural land increased almost fivefold compared with 2022.

The E-auksion electronic trading platform has become another tool for increasing transparency and accessibility in privatization. Around 1.5 million assets have been put up for auction through the platform, of which more than 1.2 million have been sold.

Opportunities for entrepreneurs to acquire state assets are also being expanded. These include installment payments, discounts in cases provided for by the rules, and long-term leases of state property with the option of subsequent direct purchase.

Uzbekistan plans to further reduce the state’s role in the economy and expand opportunities for the private sector. By 2030, the share of the non-state sector is planned to reach 85%, while the number of enterprises with state participation is expected to decrease almost sixfold.

The reforms are aimed at privatizing state assets while also creating a more competitive environment, improving the economy’s investment attractiveness and expanding opportunities for entrepreneurship.