On 27 September 2021, Minister of Energy of the Republic of Uzbekistan Alisher Sultanov held talks with Baron Eric Alain Robert David de Rothschild, Vice President of the Supervisory Board of Rothschild & Cie.
At the beginning of the conversation, the guest highly appreciated the reforms being carried out in Uzbekistan, leading to significant positive changes in the socio-economic development of the country. In particular, he noted a positive trend in the growth of GDP per capita, despite the global stagnation associated with COVID-19.
The parties discussed the course of the current cooperation with the Rothschild & Co company, which has a worldwide reputation and extensive experience in modern business. In the system of the fuel and energy complex (FEC) of Uzbekistan, this company, in particular, provides consulting support during the preparation of Uzbekneftegaz JSC, supervised by the Ministry of Energy, for an IPO (initial public offering) as part of its transformation into an investment-attractive and financially an independent company.
Rothschild praised Uzbekistan’s policy in the field of financial transformation and preparation for the initial public offering (IPO) of Uzbekneftegaz JSC. In his words, this is a very serious and correct approach, since Uzbekneftegaz is preparing for privatization, gradually improving its financial performance and profitability. “This is the wisest approach, which takes a lot of time and effort, but it will certainly yield positive results,” the head of the delegation said. In his words, Rothschild & Co stands for a comprehensive solution to these issues and is ready to closely cooperate with Uzbek partners.
In addition, Rothschild & Co takes part in the development of proposals for long-term financing of the Program for the modernization of the gas transmission system of the Republic of Uzbekistan, as well as in the development of proposals for the transformation of Uztransgaz JSC into a clean operator of natural gas transportation.
In turn, Rothschild noted that the Rothschild & Co corporation is ready to actively work on all projects, in particular, on advising Uzbekneftegaz JSC and Uztransgaz JSC on various key financial issues.
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