of August 27, 2024 No. PP-303
About formation of the National investment fund of the Republic of Uzbekistan
For the purpose of increase in investment appeal of the country, increase in amount of direct foreign investments, and also acceleration of processes of transformation of the large companies and commercial banks with the prevailing state share, implementations of modern mechanisms of corporate management:
1. Agree with the offer of the Ministry of Economics and finance and Agencies on management of the state assets about formation of the National investment fund of the Republic of Uzbekistan (further - Fund).
2. Determine that:
The fund is formed in the form of joint-stock company which single shareholder before public placement of its shares is the Ministry of Economics and finance;
the authorized capital of Fund is created by transfer of part of the state block of shares to it (further - investment assets) the companies and commercial banks on estimated market value;
based on the decision of general meeting of shareholders of Fund it is allowed to attract in Fund of the trustee with investment assets (further - the Trustee).
3. Approve the List of the companies and commercial banks, the state share in which is transferred for forming of the authorized capital of JSC National Investment Fund of the Republic of Uzbekistan, according to appendix.
4. Determine the main objectives of Fund:
increase in market value of net assets of Fund;
share placing of Fund on the leading foreign stock exchanges;
involvement of the leading international institutional investors for participation in processes of investment attraction in assets of Fund and their privatization;
implementation of standards of corporate management of Organization for Economic Cooperation and Development, transition to international accounting standards, participation in implementation of standards of ecological, social and corporate management (ESG) in investment assets of Fund.
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