Uzbekistan has announced the sale of state shares in three major automotive companies as part of its ongoing privatization efforts.
The government is offering 50% of the authorized capital of Uzsungwoo, 100% of the authorized capital of Avto Climate Control, and 34.2% of the authorized capital of Uz Truck and Bus Motors.
“Portfolio Investments” serves as the privatization consultant to UzSAMA for these transactions, following an industry-specific approach.
Uzsungwoo, established in 2011, specializes in manufacturing metal parts for the automotive industry using stamping and welding technologies. The company has an annual production capacity of 120,000 sets and supplies parts for Chevrolet models, including Cobalt, Gentra, Tracker, and Onix. Its charter capital is $14 million.
Avto Climate Control was founded in 2010 in collaboration with Uzavtosanoat JSC and South Korea's Erae Cs Limited. The company produces heating and cooling systems for vehicles, playing a vital role in Uzbekistan's automotive supply chain. Its charter capital is 12,592.9 million UZS ($971,439).
Uz Truck and Bus Motors, established in 2009, is one of Central Asia’s largest manufacturers of MAN and Howo trucks and passenger vehicles. The plant produces over 60 types of vehicles, including tractors, dump trucks, vans, special equipment, and buses, with capacities ranging from 5 to 70 tons. The company’s authorized capital is €32.8 million.
The sales process will occur in two stages. In the first stage, interested investors must submit an Expression of Interest (EOI) along with supporting documents. In the second stage, authorities will review the EOIs and invite selected investors to submit binding offers. The asset will be awarded to the highest bidder.
To qualify, investors must have adequate financial resources and provide proof of transparent sources of funds. Neither the Applicant nor any of the Consortium Members (in the case of the Consortium) must be on the public sanctions lists.
Uzbekistan’s sharp increase in recycling fees for imported electric vehicles signals a shift toward local production and battery recycling, but consumers and dealers are feeling the strain.
A presidential visit to Central Asia is under consideration, potentially marking a historic first as U.S. ties with the region deepen.
Samarkand will welcome thousands of international delegates in late 2025 as Uzbekistan becomes the first Central Asian country to host the 20th Conference of the Parties (COP20) to the CITES Convention.
Uzbekistan and South Korea are deepening their collaboration on railway development as both countries advance plans for a high-speed passenger rail line connecting Tashkent and Samarkand.
Uzbekistan and the Philippines are working to boost bilateral investment cooperation, with a focus on key sectors such as ICT, electrical engineering, transport, geology, and textiles.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
Ukraine is exploring whether to replace the U.S. dollar with the euro as its reference currency, as Kyiv aligns more closely with the EU and global trade fractures deepen.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
Ford is raising prices on three of its Mexico-made models starting May 2, becoming one of the first major automakers to react to U.S. President Donald Trump's steep auto tariffs, which are reshaping industry costs and consumer prices.
As European NATO countries rush to strengthen their armed forces, large pension bills threaten to divert funds from urgently needed military hardware.
The European Commission has presented a roadmap to ensure the EU fully ends its dependency on Russian energy, while ensuring stable energy supplies and prices across the EU.
Britain's King Charles has called on the world to work toward lasting peace and preventing future wars during a speech marking the end of four days of events celebrating the 80th anniversary of Victory in Europe (VE) Day.
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
A humanitarian ship carrying 20,000 tons of Ukrainian wheat docked in Samsun, Türkiye, on Thursday, marking a major World Food Program initiative to supply crisis-hit regions, including Syria.
North Korea’s leader Kim Jong Un supervised a missile test on Thursday, emphasizing the nation's nuclear combat readiness, according to state media KCNA.
EU foreign ministers will visit Lviv, Ukraine, on May 9 to discuss defense support and endorse plans for a tribunal on war crimes and aggression.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment