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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 12, 2018 No. PP-3720

About measures for enhancement of management system state assets

The state companies and other legal entities with the prevailing share of the state in authorized fund (further - the state companies) play significant role in national economy, taking key positions in priority industries, first of all, in fuel and energy, agro-industrial, mining complexes, spheres of mechanical engineering, transport, the chemical industry, telecommunications.

At the same time, there is number of the problems which are not allowing the state companies to perform fully the functions and to promote social and economic and technology development of the country, among which now:

the first, availability of conflict of interest in corporate management process which arises owing to participation in governing bodies of the state companies of heads of industry complexes of the executive authority and state bodies;

the second, lack of the debugged management system investment processes in the state companies providing acceptance of optimal management decisions, rational and effective use material, financial and manpower;

third, opacity of corporate management, lack of practice of the regular analysis of financial and economic activity of the state companies, effective control of accomplishment and effectiveness of the tasks and functions assigned to them;

the fourth, inefficiency of system of preparation, retraining and advanced training of managing personnel and specialists of the state companies in the sphere of corporate and project management.

For the purpose of further increase in effective management of the state assets, enhancement of activities of the state companies, increase in their role further economic, technology and social development of the Republic of Uzbekistan:

1. Take into consideration the international practice of program implementation of transformation of the state companies implying realization of large-scale transformations to the organizations of their activities, and also value addition of the state assets and increase in management efficiency of them.

2. Agree with the offer of the National agency of project management in case of the President of the Republic of Uzbekistan, the Ministry of Finance, State committee on assistance to the privatized companies and development of the competition about implementation in 2018 - 2020 of the Program of transformation of the state companies and other legal entities with the prevailing share of the state in authorized fund (further - the Program) providing:

implementation of the corporate management system providing responsibility of managerial personnel for high-quality and timely accomplishment of the tasks assigned to them;

realization of initiatives of increase in efficiency of activities of the state companies;

development of professional skills of heads and specialists of the state companies, including by the organization of experience exchange with the leading foreign corporations on the corresponding industries;

use of instruments of project management when implementing actions for transformation of the state companies.

3. Determine that:

The national agency of project management in case of the President of the Republic of Uzbekistan performs functions of Project office, authorized to determine and approve strategic objectives and key tasks of the Program, and also to make decisions concerning its realization (further - Project office);

action of the Program extends to joint-stock companies "Uzbekneftegaz", "Uzkimyosanoat", "Uzbekenergo", "Uzbekgidroenergo", "Almalyk Mining and Smelting Plant", "Uzbekiston Temir Yullar", JSC Uzbektelekom, GP "Navoiy Mining and Smelting Plant", NAC Uzbekiston havo yullari and JSC People's Bank (further - state-owned companies).

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