Trillions in Privatization: Uzbekistan Reduces State Share in the Economy

**Trillions in Privatization: Uzbekistan Reduces the State's Share in the Economy**

On October 8, a press conference of the State Assets Management Agency of the Republic of Uzbekistan was held at the Mass Media Content Preparation Center in Tashkent. During the event, Agency employees, including its Director Sokhibjon Murodov, briefed journalists and bloggers on the results of their activities for 2026.

The main topic of the speeches was the development of the private sector in the economy of the Republic of Uzbekistan and the privatization of state assets. These measures are being implemented on the basis of Decree of the President of the Republic of Uzbekistan No. UP-177 "On additional measures to reduce state participation in the economy and accelerate privatization processes," adopted on August 28, 2026, and entered into force on September 8. According to the Decree, more than 1,200 real estate properties, 8,000 hectares of land, and state shares in the authorized capitals of 84 companies are planned to be put up for auction by the end of the current year. The total revenue from the sale of these assets is expected to reach 14 trillion sums.

In particular, work has already begun on the privatization of the "Uzbekistan GTL" gas chemical complex. In accordance with the specified Decree, the enterprise is to be put up for auction in the second half of 2026. As Sokhibjon Murodov emphasized, the sale of the plant may take place later than the designated deadline, but preparations for the auction are already underway.

At the same time, as noted at the press conference, reverse processes also took place. Thus, this month, the licenses of the oil and gas company "Sanoat Energetika Guruhi" were revoked, and the Fergana Oil Refinery previously transferred to it was returned to state ownership. According to Sokhibjon Murodov, the reason was the company's financial difficulties, which led to the failure to fulfill obligations under these projects.

Regarding the privatization of land plots, according to the Agency, more than 36.5 thousand plots with a total area of 3,509 hectares were privatized in 2026, and about 3 thousand hectares were sold for a total amount of 4.7 trillion sums.

In addition, it was noted that in accordance with the new Law of the Republic of Uzbekistan No. ZRU-1163 "On Realtor Activity," signed on August 7, 2026, responsibility for the regulation and development of this sphere is assigned to the State Assets Management Agency. Among the key innovations announced at the press conference are the introduction of high standards for real estate services by increasing professional requirements, introducing qualification certification, and other measures, as well as the systematization of data by creating a single open database of realtors and real estate organizations. It is assumed that such a database will simultaneously simplify the work of realtors and make it more transparent and accessible.