President Shavkat Mirziyoyev announced on August 18 during an open dialogue with entrepreneurs in the Khorezm region that Uzbekistan will annually select 50 large companies with annual revenues exceeding 1 trillion soums for subsequent listing on the stock market.

A special acceleration program will be launched for these companies in cooperation with leading investment banks. The state will cover half of the business expenses for preparing for an initial public offering (IPO) and bringing financial reporting in line with international standards.

The president emphasized that the systematic listing of domestic enterprises on exchange platforms will allow the private sector to attract at least $1 billion in direct foreign investment annually. This is a crucial step for diversifying the economy and developing the country's financial markets.

A successful benchmark for the market was the listing of a 30% stake of the National Investment Fund, which unites the assets of 13 strategic companies, on the Tashkent and London Stock Exchanges. According to the head of state, this practical experience has opened a direct path for Uzbek business to external capital markets.

Earlier, it was reported that entrepreneurs in Uzbekistan will be able to start construction immediately after purchasing a plot at auction, without spending 6 to 12 months on collecting permits. Land plots will be put up for auction with a ready-made package — architectural and planning assignment, project, and construction permit.

Source: podrobno.uz