Why is this important
The strategic postal operator’s privatization corner is not just a business operation, but an important element of asset openness and investment attraction reforms. The prior emphasis on transparency indicates increased attention from the regulator and society to privatization processes. The UzPost privatization process could become a test for the entire state asset privatization program in Uzbekistan, especially with the participation of foreign investors.
What happened
- The Anti-Corruption Agency drew attention to media reports about the upcoming privatization of UzPost’s 29.4% stake, which should be put up for auction under the President’s decree.
- The Law “On Privatization of State Property” provides for the principles of transparency, legality, accountability, and equal competition. In particular, state bodies need to ensure access to information about privatized assets.
- The Decree of June 2021 and the Resolution of the Cabinet of Ministers of October 28, 2023, stipulate the placement of data on state-owned enterprises and assets on the Open Data Portal with updating at least every 3 months. The Anti-Corruption Agency requires compliance with these norms.
- In public statements, UzPost notes that there is no official confirmation of the completion of the share sale yet, and the company is expected to attract an investor “in strict accordance with the law and full transparency”.
- Earlier, the media called Russia’s Wildberries marketplace a potential buyer of the share, but this information has not been officially confirmed.
Context
The privatization program in Uzbekistan provides for the sale of shares in a large number of state-owned enterprises — UzPost holds a special place as the operator of the national postal system. Attracting a foreign investor (for example, a marketplace) can strengthen technological modernization and competition in the logistics sector, but simultaneously necessitates increased control over data security, infrastructure, and strategic functions.
