The process of transformation and privatization of state-owned enterprises to accelerate
09/09/2021 15:15
The process of transformation and privatization of state-owned enterprises to accelerate
09/09/2021 15:15
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Shavkat Mirziyoyev noted that the process of transformation and privatization of state-owned enterprises will continue to accelerate.
“From now on, inefficient enterprises will have to “drag their own carts” like the private sector, without additional support from the state,” the head of Uzbekistan said.
At the same time, 23 large enterprises in mechanical engineering, chemical, oil and gas, energy, mining and metallurgical, transport spheres will have to independently enter international and domestic financial markets and receive financing for investment projects by obtaining international credit ratings, he said.
In addition, the energy market will be liberalized and private investment will be attracted to the sector.
The head of Uzbekistan noted that as a result, by 2026, electricity production will increase by another 30 billion kilowatt-hours per year, bringing the total to 100 billion kilowatt-hours.
“Next year, the process of introducing the principles of a free market for natural gas will begin. Along with the liberalization of electricity and natural gas markets, social consumption rates will be introduced to protect the population in need,” the President noted.
At the same time, due to the transformation of the banking system, the share of private banks will reach 60% of total banking assets, he said.
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