Industrial Ownership Stakes

The above table shows industrial enterprise ownership stakes, based on the results from enterprise surveys. Joint-stock enterprises in Kyrgystan encompass only 50% of the enterprises surveyed; 37% of enterprises are (non-corporatized) state enterprises and 14% have a non-state form other than a joint-stock company. Foreign ownership shares are included in the category "outsiders". The foreign ownership share in the Czech Republic is 5%, while the foreign ownership share in Kyrgystan is 0.3%. A significant form of outside ownership in the Czech Republic is Investment Privatization Funds, which accumulated and invested vouchers distributed in the voucher privatization program.

As compared to the Czech Republic, which is one of the most successful transition economies in Eastern and Central Europe, enterprises in the Russian Federation and Kyrgystan have a much higher share of insider ownership (ownership by managers and workers on the given enterprise) and much lower share of outsider ownership (ownership by individuals and enterprises unrelated to the given enterprise, such as ownership by banks, investment funds, and foreign investors). State ownership in Kyrgystan, across all enterprises, is also much higher than in the Czech Republic and the Russian Federation.

Enterprise Restructuring in the FSU