President Mirziyoyev signed a decree aimed at increasing efficiency in state-owned enterprises. It establishes new requirements for the activities of companies with a government holds stake of 50 percent or more.
State-owned enterprises shall cease providing sponsorship aid in cases other than those determined by the decrees and directives of the President of Uzbekistan,” says the clause 9 of the decree.
The decree stipulates that the business plans of large strategic state-owned enterprises managed by UzAssets JSC for 2026 shall be critically reviewed within 2 months.
Starting from March 1, 2026, strategic large state-owned enterprises managed by UzAssets” JSC shall:
- implement the Single Treasury” information system, which will allow for financial planning, procurement, contract execution, treasury payments, trade transactions and compliance control in the accounting information system. Through this system, all income and expenses of the enterprise and its system enterprises will be centralized;
- Financial Model” electronic program will be launched, which will allow for online analysis of data on production and financial flows, cost, investments and loans, and monitoring the implementation of business plans;
- Shared Service Centers will be launched, through which auxiliary services and functions (procurement, personnel, accounting, information technology, legal services) will be centralized;
- in order to automate business processes, it will be allowed to integrate the information systems of the Customs Committee, the Tax Committee, procurement operators, operators of the electronic state procurement system, operators of electronic invoices, service-providing commercial banks and other organizations.
UzAssets’ portfolio includes: NKMK, OKMK, Navoiyuran, Uzmetkombinat, Uzbekneftegaz, Uzbekkomir, UzAuto Motors, Uzkimyosanoat, Navoiyazot, Uzbekhydroenergo, Therma Electric Stations, Uztransgaz, UzGasTrade, Hududgaztaminot, Regional Elecric Neworks, Territorial Elektrіklarі, Uzbekiston Post, Uzbekistan Railways, Uzbekistan Airways, Uzbekistan Airports, Tashshahartranskhizmat, Uzbektelecom and state-owned banks.
