Abstract
Успешная приватизация государственной собственности зависит от инвестиционной привлекательности реализуемых объектов, а также общего инвестиционного климата страны и уровня развития финансовой инфраструктуры. В Республике Узбекистан с принятием Указа Президента страны от 27.10.2020г. № УП-6096 «О мерах по ускоренному реформированию предприятий с участием государства и приватизации государственных активов», начался новый этап приватизации государственной собственности. Значительное место в программе приватизации уделено реструктуризации государственной собственности, повышению эффективности управления государственными активами и выводу акций узбекских эмитентов на мировые рынки капитала (IPO). В статье рассматривается степень влияния эффективной системы корпоративного управления и уровня капитализации национального рынка ценных бумаг, способствующих повышению инвестиционной привлекательности и наиболее эффективному практическому проявлению родовых преимуществ акционерного общества, обеспечивающих достижение главной цели акционирования – привлечение прямых инвестиций
Highlights
Successful privatization of state property due to the investment attractiveness of the objects being implemented, as well as the general investment climate of the country and the level of development of the financial infrastructure
The concept of this article, as well as the development of practical skills in managing the processes of attracting investment resources to joint-stock companies formed on the basis of privatized enterprises, require disclosure of the author's understanding of such methodologically important concepts as corporatism and corporation
A corporation is a complex organism that unites a large number of participants in corporate relations, whose interests are closely linked both within the corporation and outside
Summary
The concept of this article, as well as the development of practical skills in managing the processes of attracting investment resources to joint-stock companies formed on the basis of privatized enterprises, require disclosure of the author's understanding of such methodologically important concepts as corporatism and corporation. The development of mechanisms and procedures for an internal IPO will allow a step-by-step transition to the organization and development of sales of securities of domestic issuers in foreign countries In this regard, it is advisable to develop and adopt a special concept for bringing domestic securities to international capital markets, which in the long and short term would provide for: 1) measures for the selection of issuers in Uzbekistan, with a well-oiled system of corporate governance in them, whose shares could be quoted on international stock markets; 2) government support for selected domestic issuers, whose securities would eventually circulate on foreign stock markets; 3) measures to improve domestic legislation, ensuring the creation of conditions for the issue and circulation of national securities in the securities markets of the near and far abroad; 4) adaptation of domestic standards of accounting and financial reporting of joint stock companies to international requirements; 5) organization of work through foreign economic departments and with the use of representative offices of international organizations for the preparation and conclusion of interstate (bilateral or multilateral) agreements on the possibility of placing domestic securities in the relevant countries and securities of foreign states in our country; 6) consultations and negotiations with foreign banks regarding the possibility of placing domestic shares through depositary receipts. It is necessary to analyze the mistakes made in the preparation of previous documents, the implementation of which ended in failure, draw the appropriate conclusions, creating a new action plan, taking into account the mistakes of past years and the experience from neighboring countries
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