The State Assets Management Agency of the republic of Uzbekistan

On 4 November of this year, an international seminar titled “Supporting Uzbekistan’s economic reforms and WTO accession process: Developing the private sector and redefining the role of the state” was held at the headquarters of the World Trade Organization (WTO) in Geneva. The event was organized ahead of the next meeting of the Working Party on Uzbekistan’s accession to the WTO.

The seminar was attended by representatives of the State assets management agency, the World Bank, the Asian Development Bank, as well as a number of international experts. The participants discussed the outcomes of the sustainable and consistent economic reforms being implemented in Uzbekistan.

In his remarks, Deputy director of UzSAMA Alisher Miraliyev spoke about the reforms carried out in recent years to simplify and accelerate the privatization process and their results. He emphasized that the sale of state assets is conducted on the principles of full openness and transparency, ensuring equal conditions and fair competition for investors.

Since 2021, privatization processes have been implemented in close cooperation with international financial institutions and strategic partners. As a result, the laws “On the management of state property” and “On the privatization of state property” were adopted, while the legal framework for managing enterprises with state participation has been improved in line with modern requirements and international best practices. These measures contribute to enhancing transparency, accountability, and a competitive environment.

“Our task is to effectively manage state assets, increase their value, implement successful privatization processes, and thereby reduce the state’s participation in the economy, creating new opportunities for the private sector,” emphasized Alisher Miraliyev.

In his remarks, a representative of the World Bank noted that thanks to the economic reforms implemented since 2017, Uzbekistan has embarked on a path of sustainable growth and enhanced competitiveness. It was highlighted that over the past eight years, the country has been recognized as one of the fastest-reforming economies in the world.

“Deepening the reforms of enterprises with state participation and creating equal opportunities for the private sector are crucial for the country’s economic growth and effective integration into the World Trade Organization,” said the World Bank representative.

The Director of the Asian Development Bank’s resident mission in Uzbekistan, Kanokpan Lao-Araya, highly praised the ongoing reforms in the country. According to her, Uzbekistan is steadily transitioning from a state-dependent economy to a competitive market economy, and accession to the WTO will take this process to a new stage.

“Reforming enterprises with state participation lies at the core of Uzbekistan’s structural economic transformation. Each privatized company creates new opportunities for entrepreneurship and innovation,” noted Kanokpan Lao-Araya.

As highlighted during the event, large-scale transformations are being carried out within the framework of the Strategy for the management and reform of state-participating enterprises for 2021–2025. As a result of its implementation, the number of enterprises with state participation has decreased by 67 percent. This contributes to reducing the state’s role in economic sectors and increasing the share of the private sector.

According to international experts, the reforms in the field of privatization are not only economically significant but also play an important role in strengthening institutional resilience, increasing investor confidence, and enhancing the country’s international standing.