On October 22, a meeting of the Interagency Working Group on the Development of the Tashkent International Financial Centre (TIFC) was held within the framework of the Foreign Investors Council under the President of the Republic of Uzbekistan.
The meeting brought together representatives of government authorities, international financial institutions, and the investment community, as well as the management of the Republican Stock Exchange “Toshkent”.
The discussions primarily focused on positioning Uzbekistan as a regional financial and investment hub, attracting international capital, financing major infrastructure projects, and creating a favourable environment for foreign investors.
Participants also addressed issues related to meeting the practical needs of foreign investors, strengthening legal protections for investments, ensuring freedom of contract, and establishing a transparent financial environment in line with international standards.
The importance of international expertise and cooperation in advancing the project was also highlighted. Organisations involved in its development included BlackRock, Sullivan & Cromwell, TheCityUK, the Bank of England, and the European Bank for Reconstruction and Development (EBRD), along with representatives of Hong Kong’s financial sector.
One of the key topics of the meeting was strengthening cooperation between the Tashkent International Financial Centre and the national stock exchange. In particular, a representative of the Asian Development Bank (ADB) emphasised the importance of developing the international financial centre and the national stock exchange as an integrated financial ecosystem, with both institutions complementing and reinforcing each other.
It was also noted that the international financial centre should not only facilitate the attraction of foreign capital but also contribute to strengthening Uzbekistan’s domestic securities market.