On September 12, at the VI International Conference “Capital Market of Uzbekistan”, organized by Cbonds, the CEO of the Republican Stock Exchange "Toshkent" (RSE) “Toshkent” George Paresishvili spoke of current regulations and laws, outlining some of the key issues facing local market.

George Paresishvili emphasized the need to create conditions for easy access of foreign investors when entering and exiting the local FX and securities markets. Therefore, certain FX and other regulations need to be simplified, along with improvements in capital market infrastructure. He also drew attention to the weakness of the corporate bond market in Uzbekistan: out of more than 100 companies listed on the RSE, only 3-4% issue bonds, while in developed countries bonds account for a much larger share of the market.

George Paresishvili noted that in Uzbekistan there are companies with good revenues and stable cash-flow, which could easily issue bonds in the amount of 20-30 million dollars at 10-12% annual rate. George also emphasized that according to various estimates between $10 and $15 billion is currently kept “under the mattress”, which could be put to work by issuing USD denominated local corporate bonds. This, in his opinion, would help create new jobs and stimulate economic growth.