“Digital Trust” fund to receive a state share in Uzbekgidroenergo

For the development of the digital economy, the “Digital Trust” fund will receive a state share in the authorized capital of Uzbekgidroenergo, according to a government decree.

“In accordance with the proposal of the National Agency of Project Management under the President of Uzbekistan, the State Assets Management Agency, the Ministry of Economic Affairs and Industry functions of the JSC Uzbekgidroenergo as a shareholder will be transferred to the “Digital trust” fund,” the decree says.

The document states that this was done “in order to introduce modern methods of corporate governance into the management system of JSC Uzbekgidroenergo, as well as to ensure the needs of enterprises and the public for electricity by attracting foreign investments into the development of hydropower engineering”.

JSC Uzbekgidroenergo was established in 2017 to implement a unified technical policy in the field of electricity generation at hydroelectric power plants, develop and implement programs for the enhancement of the hydropower sector based on the integrated development of hydropower potential and ensure an increase in the share of hydropower in the energy balance of Uzbekistan.