New management reforms prohibit sponsorship spending by state firms without president’s approval

A new presidential order aimed at improving the efficiency of state-owned enterprises has introduced additional requirements for companies in which the state holds at least a 50 percent stake.

“State-owned enterprises shall cease providing sponsorship assistance in all circumstances other than those arising from decisions and instructions of the President of the Republic of Uzbekistan,” reads clause 9 of the directive.

Under the document, the 2026 business plans of major strategic state-owned enterprises managed by UzAssets JSC must be critically reviewed within two months.

Beginning 1 March 2026, major strategic enterprises under the management of UzAssets JSC will be required to implement several new systems and procedures:

• A Unified Treasury information system will be introduced, enabling financial planning, procurement, contract execution, treasury payments, sales operations and compliance monitoring. All revenues and expenditures of each enterprise and its subsidiaries will be carried out centrally through this system.
• A Financial Model digital program will be launched to allow real-time analysis of production and financial flows, costs, investment and loans, as well as monitoring of business plan implementation.
• Shared Service Centers will be established to centralize support services and functions, including procurement, human resources, accounting, information technologies and legal services.
• To automate business processes, information systems of the State Customs Committee, the Tax Committee, procurement operators, the state procurement e-platform, electronic invoice operators, servicing commercial banks and other organizations will be allowed full integration.

According to data published on the UzAssets website, the company’s portfolio includes the following major enterprises and institutions: NMMC, AMMC, Navoiuran, Uzmetkombinat, Uzbekneftegaz, Uzbekcoal, UzAuto Motors, Uzkimyosanoat, Navoiazot, Uzbekhydroenergo, Thermal Power Plants, Uztransgaz, UzGasTrade, Hududgaztaminot, National Electric Grid of Uzbekistan, Territorial Electric Grids, Uzbekistan Post, Uzbekistan Railways, Uzbekistan Airways, Uzbekistan Airports, Toshshahartansxizmat, Uztelecom, as well as state-owned banks.