As part of the delegation of the Republic of Uzbekistan's working visit to the Federal Republic of Germany, the delegation held a seminar and working meeting with representatives of the German Federal Ministry of Finance and the consulting company “Indecon Consulting”. The event took place at the German Agency for International Cooperation (GIZ) and focused on studying advanced international practices in state asset management and improving approaches to state-owned enterprise reform.

The main presentation was delivered by Matthias Nehm, Managing Director of “Indecon Consulting”. He introduced the Uzbek delegation to Germany’s experience in implementing structural reforms, transforming state-owned enterprises and improving the efficiency of state asset portfolio management.

The central topic of the discussions was the draft Strategy for Reforming and Privatising State-Owned Enterprises in Uzbekistan for 2026–2030. The parties considered practical mechanisms for its implementation, including reducing state participation in the economy, optimising the state asset portfolio and expanding opportunities to attract private capital.

Particular attention was paid to establishing an effective state asset management system based on clear ownership criteria, assessing the economic feasibility of retaining assets, and identifying appropriate mechanisms for their further development or transfer to the private sector.

An important part of the discussions focused on introducing a systematic approach to the management of state-owned enterprises. This includes setting performance targets, strengthening oversight of management results and increasing the accountability of government bodies representing the state as an owner.

The Uzbek delegation also familiarised itself with Germany’s approaches to separating the functions of the state as an owner from those of corporate management bodies, the activities of supervisory boards, and the application of international G20/OECD and OECD standards in corporate governance.

Studying these practices is particularly important for the further transformation of Uzbekistan’s state-owned enterprises, improving their operational and financial efficiency, and developing a modern model of state asset management.

The parties also discussed mechanisms for limiting federal and regional assets, institutional models of state property management, and opportunities to adapt relevant German practices to Uzbekistan’s specific conditions.

The meeting represents a continuation of the partnership between Uzbekistan and its German counterparts within the framework of a GIZ project providing advisory support in the management of state ownership interests, commissioned by the German Federal Ministry of Finance.

The project предусматривает the transfer of international expertise in corporate governance, corporate restructuring, privatisation, asset valuation and real estate management, while laying the groundwork for further developing the professional competencies of Uzbek specialists.