PRESS RELEASE

February 8, 2024 - In accordance with the Decree of the President of Uzbekistan dated September 02, 2023 No. PP-291 (Appendix 4, Сlause 31.2) the Republican Stock Exchange “Toshkent” is continuing increasing public awareness about the state of the capital market and improving financial literacy of Uzbekistan’s population.

As part of this initiative, on February 8, 2024, the CEO of the Tashkent Stock Exchange George Paresishvili delivered an open lecture on the topic “How to accelerate the development of the capital market in Uzbekistan” to students at the Westminster International University of Tashkent.

During the lecture, various topics related to the development of Uzbek capital market were discussed, including the draft new capital market law, liquidity constraints, size of corporate securities issuances, as well as recommendations for improving legislation and corporate governance in Uzbek companies. Particular attention was paid to the planned privatization of state-owned companies and banks through IPO/SPO and need for creation of a strong domestic investor base.

Tax incentives aimed at the development of the local capital market and requirements for attracting ICSDs and global custodians were also discussed, including necessary measures to improve the capital market infrastructure and create a more attractive environment for investors in Uzbekistan.

The meeting was held interactively, with lecture followed by active Q&A session in the end.