Tashkent, Uzbekistan, February 2, 2022 — During videoconference meeting on priority tasks for 2022 in the field of privatization of state property, chaired by President Shavkat Mirziyoyev, the importance of attracting potential investors to large complexes was emphasized, also the need to intensify and double the effectiveness of work this year was indicated.

Today was signed an agreement with IFC (part of the World Bank Group) to assist in privatizing one of the leading players in the country’s chemicals and fertilizers sector – to help modernize the industry and drive greater foreign direct investment and growth.

Under the agreement between IFC and the Uzbek State Assets Management Agency (UzSAMA), IFC will act as a strategic advisor for the privatization of JSC Ferganaazot. International consulting firm "Deloitte TCF LLP" is acting as a lead advisor on this transaction.  

“To improve the competitiveness of the chemicals sector of Uzbekistan, it is critical to attract capable strategic private investors. Privatization of JSC Ferganaazot is one of the most important steps the Uzbek government is taking in this direction.” said Akmalkhon Ortikov, Director of Uzbekistan’s State Assets Management Agency.

"With progressive reforms and investments in skills and technology, the chemicals industry can play a catalytic role in the economic development of the country. We are delighted to support the government in modernizing the sector and attracting international companies to invest and bring in the latest solutions and best practices required to build up a sustainable chemical industry in the country.” said Wiebke Schloemer, IFC Director for Turkey and Central Asia.