Uzbekistan is launching an acceleration program to bring domestic enterprises to the capital market with the involvement of reputable investment banks. This was announced by the president's press secretary Sherzod Asadov following the results of the VI open dialogue of Shavkat Mirziyoyev with entrepreneurs.

Selection criteria

Annually, the program will select 50 enterprises with annual revenue exceeding 1 trillion sum.

The state will cover half the costs of preparing companies for IPO and bringing financial reporting into compliance with international standards (IFRS).

The second point often becomes the main barrier for local business: the transition to IFRS requires restructuring accounting, auditing and internal procedures — expenses that are only offset by subsequent placement.

Expected impact

According to estimates, the program will allow private enterprises to attract at least $1 billion per year from abroad.

The opportunity for Uzbek business to enter external capital markets emerged after the placement of 30% stake of the National Investment Fund on the Tashkent and London stock exchanges this year, which holds minority stakes in 13 strategic companies.

For the local investor, the expansion of public issuers means a deeper market: today, tracking stock prices is only possible for a limited number of liquid securities.

Personnel for investment projects

Special attention at the dialogue was given to specialist training. The president noted that high-tech projects worth $50 billion are implemented annually in the country, and each should include a personnel training component.

In Urgench, based on the experience of Germany and China, a career guidance system for schoolchildren in 10 fields has been implemented, including green energy, construction, nursing, agronomy and electrical engineering. The practice is planned to be extended to all regions.

Tax deduction for technical colleges

Entrepreneurs who establish technical colleges or take over state educational institutions for training specialists according to international standards will be allowed to deduct corresponding expenses from taxes.

Under the system, it is planned to train 1 million young people in modern professions.

This material is for informational purposes and is not an investment recommendation.