1. INVEST IN UZBEKISTAN THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN
FOR PRIVATIZATION, DEMONOPOLIZATION AND DEVELOPMENT OF COMPETITION
INVEST IN UZBEKISTAN
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2. PRIVATIZATION IN UZBEKISTAN
Small privatization
Corporatization of state enterprises
Privatization of large JSCs
Large industrial companies for foreign investors
BRIEF STATS:
Housing Fund - fully privatized by 1993
More than 31,000 legal entities transferred to private ownership
A new class of owners formed = more than 2.0 million holders of shares and stakes
Due to privatization more than 85 thousand citizens became owners of private and small enterprises 2
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3. International Investment Forum (Tashkent, 6 Nov, 2015)
WHY INVEST IN UZBEKISTAN
International Investment Forum (Tashkent, 6 Nov, 2015)
550+ foreign participants
300+ int’l companies
100+ deals for total $12.5 bn
8% GDP growth each year over the last decade
progressive infrastructure and qualified labor
lowest costs of running a business in Central Asia
60+ Universities, 300K+ degree holders per year
GLOBAL BRANDS
PROVEN BY
SAVVY INVESTOR’S BEST CHOICE
57th in global prosperity index by Legatum Institute
in the top 10 of “doing business” reforms
among top-5 fastest growing economies in the world
16 points up in 2015 Doing business report
success stories by global brands , operating in Uzbekistan
abundant resource base (global top 10 reserves in minerals and more)
favorable investment climate
tax incentives and other preferences 3
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4. WHY INVEST IN UZBEKISTAN Indicators of the banking sector
2015
Capital adequacy ratio
On average 23,6% (Central bank requirement 10%, and Basel recommendation – 8%)
Liquidity ratio
On average 64,5% (two times more than int’l requirement)
Non-performing loans
Less than 1,0% (of total loans volume)
Real GDP growth rates (%, YOY) 4
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5. FOREIGN ENTERPRISES IN UZBEKISTAN
More than enterprises with foreign capital 5
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6. ADDITIONAL STIMULI FOR INVESTORS
Payment period can be extended for up to 24 months
Amounts paid by the Investor remain at the purchased company
Targeted use of investments for modernization and expansion of production
Flexible possibilities : delegating voting rights on state shares to minority foreign investor to enable governance and management policy decisions 6
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7. FOCUS ON CORPORATE GOVERNANCE
Jointly with foreign experts the Corporate governance code was prepared and adopted in Uzbekistan, based on international principles
Transfer to IFRS and international standards of auditing was set by legislation
Independent directors are introduced to the boards of joint-stock companies
Internet portal for corporate information disclosure was launched
KPI was introduced to measure executive directors efficiency
Foreign managers are to be attracted to senior executive positions in joint- stock companies
Scientific-educational center for corporate governance was established and started training of executives and board members in line with advanced standards
Starting 1 July 2016, joint stock companies in Uzbekistan are to be created with foreign capital’s participation.
Currently, large joint-stock companies are actively developing partnerships with foreign investors and are attracting investments. 7
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8. PROGRAM AIMED AT INCREASE OF THE PRIVATE SECTOR’S SHARE IN THE ECONOMY
On April 28, 2015 President of the Republic of Uzbekistan approved the Program aimed at Increase of the Private Sector’s Share in the Economy, which stipulates transition into the Private Ownership of over 1247 Enterprises and Facilities, including:
State-owned shares at 68 Enterprises offered to the Foreign Investors
State-owned Facilities and Shares at 667 Enterprises subject to be put onto Sales for the Foreign and the Local Investors
512 State-owned Facilities offered to the Foreign and the Local Investors at a “Zero” Purchase Price in return for the undertaken Investment Obligations
Prices of the state-owned assets offered to foreign Investors have been appraised by international appraisal companies 8
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9. CURRENT TREND IN PRIVATISATION
Adopted decisions on privatization foresee that more than 1300 enterprises and assets of the state are to be transferred to the private sector.
Over the last year alone, 800 assets were already transferred to the private sector, which illustrates the high level of demand from investors.
Exclusive offers for foreign investors currently encompass over 300 assets in every segment of the economy, represented by shares of regional industry leaders and other large companies. 9
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10. PROGRAM AIMED AT INCREASE OF THE PRIVATE SECTOR’S SHARE IN THE ECONOMY
On 25th of December, 2015 another Presidential Resolution was adopted for joint-stock companies, operating in Uzbekistan.
The adopted act establishes, that:
starting 1 July 2016, foreign investors’ share in a joint-stock company shall comprise at least 15% of authorized capital;
existing joint-stock companies shall ensure that by 1 July 2016, foreign investors hold at least 15% of their authorized capital;
this requirement does not apply only to certain companies (the list is approved by the Cabinet), which are of strategic importance (natural monopolies, belong to mineral resources extraction and processing sector, or render socially important services at regulated prices etc.). 10
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11. OFFERS PER INDUSTRIAL BRANCHES
Printing Industry (1)
Agricultural Sphere (1)
Financial Institutions (4)
Automotive Industry (1)
Electrical Engineering (4)
Winery Plants (2)
Construction Materials (5)
Chemical Industry (4)
Food Products’ Industry (15)
Transports Sphere (3)
External Trade Sphere (2)
Oil and Gas Sphere (16)
Light Industry (2)
Other Branches’ Enterprises (8)
STOCKS AT 68 LARGE ENTERPRISES 11
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12. Open for investment EXCLUSIVE OFFERS FOR FOREIGN INVESTORS and more
Electrical
Engineering
Industry
Services
Constructions sphere
Chemical
Industry
IPAK “SHARK”
JSC “NavoiAzot”
JV LLC «Ipak Yo’li – Turizm Invest»
JSC “Kokand Superphosphate Plant”
Ahangaran Shifer
JSC «ONIX»
JSC “FerganaAzot”
JSC «CHIRCHIC TRANSFORMER PLANT»
JSC “URGENCH EXCAVATOR” 12
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13. Offered Stocks Package: 49 percent
FEATURED OFFER
Leading manufacturer of mineral fertilizers in Uzbekistan and the Central Asia
JSC “NavoiAzot”
Offered Stocks Package: 49 percent
Characteristics
Data
Kind of Activity
Production of Mineral Fertilizers, Chemical Agents, Small-Capacity Chemistry
Number of Personnel
persons
Territory
895,6 hectares
Net Revenues
$ 252,7 million
Production Capacity
ammonia (550 thous. tons), nitric acid (870 thous. tons), ammonia nitrate thous. tons (950 thous. tons), other fertilizers (200 thous. tons), chemical agents (52 thous. tons), and other chemical products (102 thous. tons)
Market Share
80 percent
According to the Investment Program, during 2015 – 2019 at JSC “NavoiAzot” implementation of projects for the total amount of $1,8 billion is planned 13
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14. Offered Stocks Package: 36 percent
FEATURED OFFER
Leading manufacturer of cement in Uzbekistan and the Central Asia. Located in Navoiy Region
Offered Stocks Package: 36 percent
Characteristics
Data
Kind of Activity
Production of Cement
Number of Personnel
3 497 persons
Territory
1,3 thous. hectares
Net Revenues
$ 397,5 million
Production Capacity
tons
Market Share
55 percent 14
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15. JV LLC «Ipak Yo’li – Turizm Invest»
FEATURED OFFER
JV LLC «Ipak Yo’li – Turizm Invest»
One of the best hotels of Uzbekistan, located in the center of Tashkent City
Share offered to Foreign Investors: 39 percent
Characteristics
Data
Kind of Activity
Hotel services
Number of Personnel
175 persons
Territory
11,8 thous. sq. ms
Space under the roof
20 thous. sq. ms
Net Revenues
$ 6,1 million.
Number of rooms
206, including 100 standard, 98 semi-suits, 2 suits and 1 Presidential Suit, 5 apartments
Infrastructure
Restaurant, café, confectioner's shop, four conference-halls, banquet hall for 750 seats 15
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16. Offered Stocks Package: 29.9 percent
FEATURED OFFER
The largest Business Center of Uzbekistan, located in the center of Tashkent City
Offered Stocks Package: 29.9 percent
Characteristics
Data
Kind of Activity
Lease of Office and other room spaces
Number of Personnel
70 persons
Territory
3,6 hectares
Space under the roof
8,2 thous. sq. ms
Net Revenues
$ 5,4 million
Occupancy rate
85 percent 16
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17. Offered Stocks Package: 38,3 percent
FEATURED OFFER
Largest Exhibition Center in Uzbekistan,
located in the Center of Tashkent City
Offered Stocks Package: 38,3 percent
Characteristics
Data
Kind of Activity
Render of services related to Exhibition Activity
Number of Personnel
309 persons
Territory
43,4 hectares
Space under the roof
28 thous. sq. ms.
Net Revenues
$ 4,2 million
Brief description
Annually holds over 50 large Exhibitions, including the Innovations’ Fares, International Industrial Fairs, Cooperation Exchange, International Uzbek Cottons Fairs, Exhibitions-Fairs “Uzbekistan AgroMiniTech Expo” and “Uzbekistan AgroTechMash Expo” and others. 17
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18. Angren Logistika Markazi
FEATURED OFFER
Angren Logistika Markazi
One of the largest logistics hubs of Uzbekistan, located in Tashkent Region
Offered Stocks Package: 49 percent
Characteristics
Data
Kind of Activity
Loading-unloading, transportation and forwarding services
Number of Personnel
1604 persons
Territory
36.9 hectares
Net Revenues
$ 30,2 million
Market Share
100 percent 18
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19. Offered Stocks Package: 63,1 percent
FEATURED OFFER
One of the largest banks in Uzbekistan, located in Tashkent City, possesses the developed affiliated branches in the Regions
Offered Stocks Package: 63,1 percent
Characteristics
Data
Kind of Activity
Banking Activity
Number of Personnel
70 persons
Territory
2,9 hectares
Net Revenues
$ 62,3 million
Net Income
over $ 8,7 million
Attainments
Awarded by positive rating score by “Moody’s”, “Standard & Poor’s” and other Agencies 19
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20. ADDITIONAL INFO ON ASSETS OFFERED FOR SALE 20
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21. Thank You for your kindest attention!
55, Uzbekistan Avenue, Tashkent, Republic of Uzbekistan,
Tel:( )
Fax:  ( ) 21
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