The State Assets Management Agency said the number of enterprises with state participation fell by 61% in 2021–2025 under the “sell or explain” principle, which requires state assets to be privatized unless there is a clear justification for retaining them.
Privatization proceeds have also increased sharply in recent years. The total revenue generated from privatization amounted to UZS 1.1 trillion over the 10 years through 2019, compared with UZS 77.6 trillion in 2020–2025, according to the agency’s information service.
The agency highlighted the sale of several major and strategic assets as examples of efforts to attract private and foreign capital into the economy.
Coca-Cola Uzbekistan was sold for $252 million, while Ipoteka Bank was privatized for $324 million. The government also sold a 75.2% stake in SamAuto, the Samarkand-based vehicle manufacturer, for $80 million.
The agency said land use and privatization have also shown positive dynamics. The volume of land plots put up for auction and sold under ownership or lease rights nearly quadrupled in 2022–2025.
In the first half of 2026, 1,800 hectares of land were sold.
The electronic E-auksion trading platform has so far offered around 1.5 million assets for sale, of which more than 1.2 million have been sold, according to the agency.
The next stage of the reforms will focus on further increasing the private sector’s share of the economy and reducing the state’s presence in business.
By 2030, the government aims to raise the share of the non-state sector to 85% and reduce the number of enterprises with state participation by nearly six times.
