World Bank about the new Law "On Privatization of State Property"
2024-02-20 12:00:00 / Press-releases
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The World Bank welcomes the positive steps Uzbekistan is taking towards a market economy. The adoption of the Privatization Law is a significant step, outlining clear methods and promoting transparency and good governance.
We are sure that this law will enhance investor confidence, creating a favorable environment for attracting private sector investments.
Good practice privatization not only frees up resources that can be used for the public goods and services but leads to a more dynamic business environment. This encourages greater competition and more job creation.
The World Bank has been a valuable partner in this reform. We played an important role in supporting the Law by offering both financial assistance and analytical support.
Looking ahead, it's crucial to closely monitor and take necessary actions for the effective implementation of the law.
We are looking forward to continuing to support Uzbekistan on its path to inclusive and sustainable market economy.
Pinar Yasar,
Senior Economist of the World Bank covering Uzbekistan in the Europe and Central Asia region