Leasing market in terms of global
financial turbulence.
Experience of leasing in Uzbekistan
Mustafaev Z. B.
General Director, Uzbekistan Lessors’ Association
Unstable situation of world economy
USA
– increasing foreign debt
– stagnation of the economy
– unstable situation of budget funds
European – “Southern Europe” financial problems – Spain,
Union
Greece, Cyprus…
China
– continuous growth of GDP
– structural changes, increase of domestic
consumption
World leasing market
Y2011
$ 724,4
bln.
37.1%
7.2%
Europe
$ 249.8 bln.
N. Аmerica
$ 292.5
bln.
Source: White Clarke Group
Asia
$ 134.0 bln.
34.5%
Africa
$ 8.6 bln.
8.3%
26.9%
10.9%
S. Аmerica
Australia
$ 27.5 bln.
$ 12.0 bln.
Dynamics of leasing operation growth
in global leasing market
bln. USD
780,4
800,0
700,0
582,0
732,8
724,4
633,7
557,3
600,0
594,5
500,0
400,0
300,0
200,0
100,0
0,0
2005
Source: White Clarke Group.
2006
2007
2008
2009
2010
2011
Growth of new leasing deals in the world
2010/11 %
*64,7%
70,0%
60,0%
50,0%
40,0%
30,0%
20,0%
10,0%
0,0%
-10,0%
42,9% 38,9%
24,0%
**12,6% 11,1%
6,8% 6,5% 4,8% 1,0%
-8,0%
*Most lease transferred trains and wagons
** In Uzbekistan growth of new leasing transactions increased by 22% in comparison with 2011
History of leasing development in Uzbekistan








1993 – Obtaining of modern planes (Boeing, Airbases Ind., RJ) by
“Uzbekistan Airways”, national airline through leasing services
1995 – Establishment of first leasing company in Uzbekistan, JV “Uzbek
Leasing International A.O.” (shareholders: NBU, Maybank, IFC and
EBRD)
1999 – Adoption of Law “On Leasing”
2002 – Decree of the President of the Republic of Uzbekistan # UP-3122
dated 28.08.2002 on measures for further stimulation of leasing system
development
2002 – Project of International Finance Corporation for the development
of leasing in Central Asia
2005 – Establishment of Uzbekistan Lessors’ Association
2011 – Introduction of leasing coordination department by Ministry of
Finance
2012 – Income tax exemption on leasing services until January 01, 2017
Why lease financing could be the innovator of
industrial processes?
Tax exemptions
 Relatively low collateral requirements
 Advantage in accounting
 Arrangement of the lease repayment schedule
based on the client's needs
 Possibility of getting the equipment in a short
time
 Ability to use additional services (insurance,
logistics)

Dynamics of lease portfolio
bil. UZS
1 258
1400
1 122
1200
1000
1 297
1 135
818
800
600
400
200
37
45
149
245
337
0
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Structural reorganization of lease objects
Y2012
Y2000
13,1%
24,4%
94%
0,5%
5,5%
29,4%
33,1%
Technological equipment
Agricultural equipment
Vehicles
Property
Distribution of lease transaction by types of
technological equipment
2012
Melioration
27,2%
Construction and construction materials production
17,7%
Others (chemical, energy)
15,9%
Food production
12,7%
Medical equipment
9,0%
Light industry
8,4%
6,0%
Trade
2,0%
Printing
Woodworking
Office equipment
0,9%
0,3%
0,0%
5,0%
10,0% 15,0% 20,0% 25,0% 30,0%
Uzbekistan leasing market players
Number of
lessors
2005
2006
2007
2008
2009
2010
2011
2012
28
33
49
64
86
83
84
99
2012
Total
Banks
26
Leasing companies
73
Prospects of introduction of operational
leasing in Uzbekistan


Vehicles and inexpensive and saleable
types of equipment

Meeting the client’s needs by constant
technological re-equipment

Customer loyalty and possibility for
future larger deals


Possibility of getting additional margin by
further leasing operations

Making profit from the sale of the leased object
Innovative methods used by
leasing companies of Uzbekistan


Call system
GPS monitoring
Future projects for provision of
leasing services
 Production
 World
- renewable energy
- wind power plant
- reduction of energy consumption
aspiration to reduce harmful emissions
 Reduction of dependence on petroleum and nuclear power
 Renewable energy industry creates additional jobs
 More and more consumers not only support, but also require “green energy”
Future projects for provision of
leasing services
 Transport
- trains and wagons
Agriculture
- efficiency of water resources utilization
- leasing of drip irrigation systems
- new technologies in livestock, poultry
- processing and storage of agricultural products
Our address:
4th Floor, International
Banking & Finance Center
1, Beshyogoch Street
Tashkent, 100066
Republic of Uzbekistan
Tel.: (+998 71) 120-02-02
(+998 71) 140-77-44
(+998 71) 140-77-46
Fax.: (+998 71) 140-37-74
E-mail: info@ula.uz
www.ula.uz
Thank you for attention!