MAY 18 2012 (The Conway Bulletin) – For the second time this year the Uzbek government has pledged economic reforms to open up its command economy to private investors and, potentially, foreign investors.
On May 15, Uzbek media quoted Saifitdlin Gafarov, deputy chairman of the Uzbek state property committee, as saying that the government wanted to sell off 500 stated owned assets. Mr Gafarov was thin on details but he did say that the sell-off would cover all sectors from energy to pharmaceuticals. Intriguingly, AP reported that Mr Gafarov said Uzbekistan was specifically looking for foreign partners to develop its technology industry.
All this sounds good and Mr Gafarov’s announcement also comes a few weeks after a statement that Uzbekistan wants to make life easier for often-harassed foreign firms working in the country.
Despite the warm words, though, there has been no hard plan. It’s unclear exactly what the government means and whether they are serious about bringing in much-needed foreign investment and expertise or whether they just want to sell-off assets to members of the elite.
The Uzbek economy is closed off, inflation is rampant and shortages are increasing. Opening up the economy may help to ease problems but if the Uzbek government wants to be taken seriously it needs to unveil more plans.
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 088, published on May 18 2012)