Reform of State-Owned Enterprises – New Threats and New Opportunities for the Development of Uzbekistan’s Economy

Abstract

The purpose of this article is to identify new threats and opportunities in the reform of state-owned enterprises in Uzbekistan to improve the efficiency of state-owned enterprises and the national economy as a whole. In the course of this study, the problem of corruption, methods of reforming state enterprises in developing countries, their consequences and directions of development were studied. And also, a critical view is given and recommendations are proposed for the reform of state-owned enterprises in the domestic economy. Based on the results of the analysis and analysis of state programs, special problems were identified in state-owned enterprises in the field of subsoil use, extractive industries and the activities of enterprises with a state share. The results of the study indicate the need to strengthen supervision over the activities of state-owned enterprises, since their profitability or unprofitability directly affects the degree of associated fiscal risks. State- owned enterprises often perform quasi-fiscal functions, attracting funds from both the state budget and external sources to finance industry projects. In the field of reforming state-owned enterprises of Uzbekistan, key conclusions have been made regarding the communication to the public, the goals, objectives and the need for ongoing transformations. There is no doubt that the reform of state-owned enterprises requires significant changes in legislation in the field of antimonopoly regulation and protection of competition, the banking and financial system, improving the protection of private property and consumer rights, social protection of the most vulnerable segments of the population and the unemployed.