Moratorium on the creation of state-owned enterprises to be introduced

A moratorium on the creation of state-owned enterprises will be implemented until January 1, 2030. This is stipulated in the Presidential Decree “On the Privatization Program for 2025,” adopted on April 21 of this year.

According to the decree, the main target indicators for privatization in 2025 include:

- Sale of state assets and land plots worth 30 trillion sums, ensuring revenue of at least 10 trillion sums;
- Offering for sale shares in the authorized capital of 115 companies owned by the state and state-owned enterprises, 659 real estate objects, and 6.1 thousand hectares of land plots;
- In the initial phase, offering rights to use at least 30 mineral deposits and plots.

The moratorium on the creation of state-owned enterprises until January 1, 2030, is a key part of the program.

State-owned properties with an area of up to 10,000 square meters will be granted for free use for five years to entrepreneurs producing high-tech products. If the contractual terms are met, these properties will be sold to the entrepreneurs at their assessed value.

Real estate objects that remain unsold for over a year, even after the gradual reduction of the initial price, and are deemed unattractive to buyers, will be included in the authorized capital of other legal entities as shares.

The requirement for the mandatory participation of local government bodies in the authorized capital of markets and shopping malls will be abolished.

The decree also introduces improvements to the procedure for leasing state property:

- If a tenant pays the annual rent within one month from the date of signing the lease agreement, a discount will be granted based on the Central Bank’s key rate at the time of agreement;
- For properties that remain unleased for six months via electronic auctions, the starting price will be reduced by 50%. If still unleased, the auction will be considered valid even with a single participant.

Starting July 1, 2025, territorial branches of the Chamber of Commerce and Industry will be authorized to initiate direct electronic auctions for the sale of real estate owned by the state and state-owned enterprises through the “State Property” information system.

From the date of notification to the registration authority regarding the liquidation of entrepreneurs, including state-owned enterprises, their financial and economic activities will be suspended. During this period, penalties on land tax, property tax, water use tax, and all other taxes and fees, as well as the calculation of dividends, will be prohibited.

Effective October 1, 2025, applications for the state registration of unclaimed real estate properties will be submitted to the relevant court by the State Assets Agency.

It should be recalled that earlier reports indicated that state shares of major state-owned enterprises, including UzAuto Motors, Uzmetkombinat, UMS (Mobiuz), Uzbekistan GTL, Uzbekinvest, Navoiyazot, and Texnopark, would be offered for sale with the involvement of international consultants.