TASHKENT (TCA) — Uzbekistan intends to hire Rothschild & Co, one of the world's largest independent financial advisory groups, to reform the country's three largest energy firms, Xinhua news agency reported with reference to the Uzbek Energy Ministry.
During the negotiations in Tashkent, the two sides reached an agreement to find possibilities for cooperation to reform and prepare for the initial public offering of the state-owned companies of Uzbekneftegaz, Uztransgaz and Hududgaztaminot, the Energy Ministry said on December 3.
"Uzbekistan is interested in the experience of Rothschild & Co in the implementation of large investment projects in the energy sector, as well as accompanying the privatization process," the ministry said, noting the financial company's experience in Azerbaijan, Kazakhstan and Russia.
Earlier this year, Uzbekistan announced a massive privatization plan for the country's largest companies in key sectors. Nearly 300 enterprises with state shares in such sectors as oil and gas, food, media and information technology will be sold fully to the private sector.
Since Shavkat Mirziyoyev took over the presidency in 2016, Uzbekistan has adopted a series of measures to promote economic reforms, including liberalizing its foreign exchange market, reducing taxes and offering preferential treatment for foreign investment.
Source: TCA
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