Uzbekistan to establish National Investment Fund

According to the resolution, work on the establishment of the National Investment Fund of Uzbekistan will begin on August 27. The Fund will be established in the form of a joint-stock company, and until the public offering of shares, its sole shareholder will be the Ministry of Economy and Finance.

The main objectives of the Fund are: increasing the market value of the Fund’s net assets, placing its shares on leading foreign stock exchanges and attracting leading international institutional investors to participate in the processes of attracting them to the Fund’s assets.

The Investment Fund’s objectives will also include the implementation of the Organization for Economic Cooperation and Development’s corporate governance standards, the transition to international financial reporting standards, and participation in the implementation of environmental, social and governance (ESG) standards in the organization’s investment assets.

At the moment, a list of enterprises and commercial banks has been approved, the state share in which will be transferred to form the authorized capital of the Fund. At least 50% of the organization’s net profit from investment assets until 2030 will be used to pay dividends based on the results of the year.