BAKU, Azerbaijan, October 14. Uzbekistan and
global investment management firm Franklin Templeton discussed
plans to transform state-owned enterprises, develop capital markets
and prepare selected companies for initial public offerings (IPOs)
during a meeting in Tashkent on October 13.
This was reflected in the statement by Uzbekistan’s Ministry of
Economy and Finance, following a meeting between Uzbek Deputy Prime
Minister and Minister of Economy and Finance Jamshid Kuchkarov and
representatives of Franklin Templeton.
The delegation included Manraj Sekhon, chief investment officer
of Templeton Global Investments and CEO of Templeton Asset
Management; Marius Dan, CEO for Central Asia at Templeton Global
Investments; and Khurshed Mustafayev, Uzbekistan’s deputy minister
of economy and finance responsible for the oil and gas sector.
The parties reviewed Uzbekistan’s ongoing economic reforms,
efforts to improve the efficiency of state-owned enterprises,
capital market development and opportunities to expand cooperation
with international investors.
Particular attention was given to transforming companies in the
portfolio of the Uzbekistan National Investment Fund (UzNIF),
strengthening corporate governance, improving financial
transparency and increasing their investment appeal.
Additionally, the discussions covered preparations for IPOs of
selected companies, access to international capital markets and
ways to attract institutional investors. The parties also
considered opportunities to apply international expertise to these
processes.
The meeting addressed measures to improve investment efficiency,
introduce corporate governance practices aligned with international
standards and build long-term investment cooperation.
Both sides expressed interest in continuing dialogue, exploring
cooperation in priority areas and considering potential joint
initiatives.
