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Uzbekistan Touts Privatization Drive in Risky Climate

Uzbekistan is on a mission to woo foreign investors, touting a massive privatization drive that will see the state relinquish some control over an economy in which it retains a heavy hand.

However, investors may be leery of channeling their cash into a country with a reputation for seizing foreign assets without recompense.

Uzbekistan is putting up stakes for sale in a whopping 1,247 enterprises, First Deputy Prime Minister Rustam Azimov said at an investment forum in Tashkent on November 6, as reported by the UzA state news agency.

Foreign investors are being offered the opportunity to snap up state-owned stakes in 68 companies and bid at auctions against local investors for another 667 enterprises, Azimov said.

They will also have the chance to take on 512 (evidently loss-making) businesses for free, if they take on investment obligations.

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Uzbekistan Touts Privatization Drive in Risky Climate

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