Uzbekistan approves sale of state stakes in Turonbank, Uzexpocentre, other assets

September 8, 2026 at 11:45 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Uzbekistan has approved a new list of major state assets for privatization, including 98.9% of Turonbank and over 91% of Uzexpocentre. The list was approved by a presidential decree on August 28 aimed at reducing state participation in the economy. The Ministry of Economy and Finance has been tasked with preparing Turonbank for privatization based on international consultants' conclusions.

Key Facts

The privatization list includes 98.9% of Turonbank shares, to be offered at public auction.
The state will fully privatize the insurance company Xalq Sug'urta, whose capital is 100% state-owned.
The list includes 91.83% of Uzexpocentre and 79.27% of the International Cooperation Center.
The state's 0.001% stake in Trastbank may be sold at the exchange quotation without a separate valuation.
The list was approved by a presidential decree dated August 28.

Banking and Insurance Assets

Turonbank is the largest banking asset on the list, with 98.9% of its shares slated for public auction. The Ministry of Economy and Finance has been instructed to prepare the bank for privatization, taking into account its readiness and the conclusions of international consultants. The insurance company Xalq Sug'urta, whose capital is 100% state-owned, is also slated for full privatization. The state's 0.001% stake in Trastbank is included in the list and may be sold at the exchange quotation without a separate valuation.

Transport and Industrial Enterprises

In the transport sector, 90% of the Tashkent Passenger Carriage Building and Repair Plant will be put up for sale. The Andijan Mechanical Plant, part of Uzbekistan Railways, will be fully privatized with 100% of its shares offered. The list also includes 54.76% of KO-UNG CYLINDER, 50% of Kor-UNG Investment, 50% of V-GEN BIOPHARMA, 100% of Inno Texnopark, 50% of Ustudy, and 51% of O'ZBEK-TURK TEST MARKAZI.

Special Privatization Conditions

Uzexpocentre and the International Cooperation Center are subject to separate privatization procedures. Their privatization must be carried out on the basis of concepts and sale conditions agreed with the Presidential Administration. The list also includes state shares in regional road enterprises and numerous market and trade complexes in Namangan, Samarkand, Surkhandarya, Tashkent, and Fergana regions.