Uzbekistan plans to put state assets worth 100 trillion soums (more than $8 billion) up for open auction, as part of a new privatization drive aimed at reducing the state’s role in the economy.
President Shavkat Mirziyoyev approved the list in a decree signed on August 28, Fergana news agency reported, citing the press service of the Agency for State Asset Management (ASAM).
The list includes state stakes in 84 companies, 1,242 real estate properties and around 8,000 hectares of landdesignated for business and urban development. The authorities also plan to liquidate or reorganize 85 state-owned enterprises.
Among the largest assets are 98.9% of Turonbank, 100% of Xalq Sug’urta insurance company and 100% of Humo Air. Humo Air is scheduled to be sold in 2026–2027.
The list also includes a 91.83% stake in Uzexpocenter and 79.27% of the International Business Center, along with stakes in industrial, transport and trade companies.
The government expects privatization to generate at least 14 trillion soums ($1.17 billion) for the state budget by the end of 2026.
More flexible sale terms
Under the new rules, the required advance payment for state assets has been reduced from 35% to 15%, with the remaining amount payable in interest-free installments.
Buyers of large assets who pay the full price within six months can receive a 25% discount. Installment plans of up to seven years will also be available under certain conditions.
If an asset is not sold within three months, its price may be gradually reduced. Some assets may be offered through hybrid auctions, where the price first falls and then rises during bidding.
The government also plans to make land more attractive to investors by offering plots as “ready packages,” including technical specifications for utility connections and necessary permits.
Large state universities and specialized medical centers may also be transferred to commercial management, allowing private investors to participate.
Markets and strategic assets
The privatization program includes state stakes in 18 markets and shopping complexes in the Namangan, Samarkand, Surkhandarya, Tashkent and Fergana regions.
In Tashkent, authorities plan to accelerate the privatization of 15 major markets, including Chilanzar, Kuylyuk, Navruz, Sergeli, Yangiobod, Aviasozlar and Farhad.
At the same time, the government may retain special rights in strategically important companies after privatization to protect national security and economic stability.
The latest measures are part of Uzbekistan’s broader effort to reduce state participation in competitive sectors. In April 2026, an International Monetary Fund mission also called on Uzbekistan to accelerate the privatization of profitable state-owned enterprises, citing the greater efficiency of private companies in competitive markets.
