Uzbekistan’s Creation of National Investment Fund
The President of Uzbekistan, Shavkat Mirziyoyev, has signed a resolution for the establishment of the National Investment Fund of Uzbekistan, as reported by the Ministry of Justice.
The establishment of the National Investment Fund will commence on August 27 and will operate as a joint-stock company. Initially, the Ministry of Economy and Finance will be the sole shareholder of the Fund until shares are publicly offered.
The Fund aims to increase the market value of its net assets, list its shares on international stock exchanges, and attract prominent international institutional investors. Additionally, it will adhere to the corporate governance standards of the Organization for Economic Cooperation and Development, adopt international financial reporting standards, and incorporate environmental, social, and governance (ESG) criteria into its investment assets.
A list of enterprises and commercial banks has been approved whose state shares will be transferred to form the Fund’s authorized capital. At least 50% of the Fund’s net profit from investment assets will be allocated for dividend payments annually until 2030.
The establishment of the National Investment Fund of Uzbekistan signals a forward-looking approach to investment and financial management, aiming to attract international investment and adhere to best practices in governance and sustainability.
