In order to accelerate the introduction of modern consumer-oriented management methods, the principles of openness, transparency and the market in enterprises with state participation, increase profits by reducing costs, create greater opportunities for private capital to participate in the reform process, reduce state participation in the economy and further improve the competitive environment, Decree of the President of the Republic of Uzbekistan No. UP-6096 of October 27, 2020 “On measures to accelerate the reform of enterprises with State participation and the privatization of State assets”was adopted.
The decree provides for the creation of a department for the transformation of large enterprises with state participation in the structure of the central office of the Ministry of Finance, as well as the involvement of leading international companies and experts in the field of consulting, Audit, and hedhanter on a competitive basis in the Ministry of Finance and the State Agency for Asset Management, and the conclusion of contracts with them, as well as the creation of project offices.
In order to attract financial, legal and management consulting organizations to ensure the implementation of this Decree, the Ministry of Finance of the Republic of Uzbekistan has published an application for expression of interest (“Request for Expression of Interest”) on the Ministry's website. Based on this request, more than 45 international and local organizations have so far expressed interest. It is planned to sign a Memorandum of understanding (“Memorandum of Understanding”) between local and international consultants who have sent a request for interest.
On May 10-11, 2021, the 8th meeting of the intergovernmental commission of Uzbekistan and France was held in Tashkent, which was attended by a delegation headed by the Minister-Delegate for Foreign Trade and Economic Attractiveness of France F. A riester.
In addition, a business forum was organized with the business movement "MEDEF International”, within the framework of which memoranda of understanding were signed between the French international investment banks“ Rothschild & Cie“,” Lazard "and" Societe Generale " and the Ministry of Finance of the Republic of Uzbekistan.
These memoranda also provide assistance in the transformation of state-owned enterprises, public debt management, capital market development, and acceleration of public-private partnership projects. The memoranda provide for the development of proposals for the further development of bilateral cooperation, the expansion of areas of cooperation, as well as a full study of the activities of enterprises with state participation, reducing the share of enterprises with state participation in the economy, and improving the efficiency of their activities.
Ministry of Finance