Uzbekistan sold state shares in 115 objects in the first quarter of 2007 compared to forecasted 101 enterprises, the Uzbek State Statistics Committee and Economy Ministry said in their publication.

The country received 24.4 billion soums from privatization in the reporting period, which is 179% up compared to forecasted.

Five contracts were signed with foreign investors on the sale of state objects and shareholdings for US$24.5 million, and undertaking of investment obligations for US$50.82 million. Of these, US$15.1 million were received in the reporting period. A purchase-sale contract for US$620,000 was made with foreign investors through online exchange trades, and the payment has been received in full.

Of 360 enterprises, for which the State Tender Commission has approved the tender procedure and conditions for sale at zero redemption value, since the mechanism was launched and up until 1 April 2007 the total of 296 enterprises (82.2%) were sold with the total investment obligations of 28.2 billion soums.

Measures are being taken to strengthen corporate management systems and raise the role of supervisory councils. Work has been carried out to raise the responsibility of trust management companies for ensuring efficient management and integrity state assets, and to expand the competences of the management associations. In 89.8% of the enterprises, currently being managed by the trusted representatives of the state, positive profits were achieved in 2006.

The total number of registered enterprise entities made up 407,700 (up by 6.1%), and the number of active small enterprises increased by 22.1% since the beginning of the year. Small businesses’ contribution to export increased from 6% to 10.7%.

The aggregate loans issued to small business and enterprise entities by different sources of financing in the first quarter of 2007 made up over 239.1 billion soums, which is 1.8 times higher than the result of the previous year.

Over 69,500 new jobs were created in the sphere of small business, including microfirms, individual enterprises, and farms. As a result the share of small business in the GDP grew from 30.1% in the first quarter of 2006 to 33.2% this year.