The Future of Tashkent International Financial Centre Discussed in Samarkand
Economy
Samarkand became the epicenter of the region's most critical economic decisions on the sidelines of the 59th ADB Annual Meeting. The spotlight was on ambitious plans for the Tashkent International Financial Centre (TIFC) and a major breakthrough in green energy. The signing of a $116 million agreement for a wind farm in the Bukhara region, alongside the announcement of a jurisdiction based on English Common Law, confirms that Uzbekistan is shifting toward a high-tech, transparent economic model, establishing itself as Central Asia’s key investment hub.
At a seminar led by Masato Kanda (ADB) and Jamshid Khodjaev, the Tashkent International Financial Centre (TIFC) project was officially presented, with its launch scheduled for early 2027. The center promises to be a revolutionary platform for the region, offering investors an independent judicial system, tax incentives, and operations under English Common Law. The Deputy Prime Minister highlighted that systemic reforms, such as the legalization of options and escrow accounts, coupled with the country's GDP growth reaching $147 billion, have provided the foundation for this initiative.
A significant practical outcome of the meeting was the signing of an agreement between the ADB and Saudi Arabia’s ACWA Power. The 300 MW Bash-2 wind project in the Bukhara region secured $116 million in financing. The construction of 39 powerful wind turbines will not only provide clean energy to thousands of homes but also create over 800 jobs. A special focus is placed on gender equality, offering female students from specialized universities access to internships and training at the new renewable energy facilities.
Experts envision the region's future through the creation of the Regional Alliance of Investment Councils of Central Asia and the Caucasus (RAIC-CAC). This platform will facilitate the coordination of cross-border investment projects. The official launch of the alliance and the signing of the corresponding memorandum are expected at the 5th Tashkent International Investment Forum, scheduled for June 16–18, 2026. Thus, the Samarkand meetings have laid the groundwork for a long-term influx of foreign capital and technological modernization across the entire region.
A significant practical outcome of the meeting was the signing of an agreement between the ADB and Saudi Arabia’s ACWA Power. The 300 MW Bash-2 wind project in the Bukhara region secured $116 million in financing. The construction of 39 powerful wind turbines will not only provide clean energy to thousands of homes but also create over 800 jobs. A special focus is placed on gender equality, offering female students from specialized universities access to internships and training at the new renewable energy facilities.
Experts envision the region's future through the creation of the Regional Alliance of Investment Councils of Central Asia and the Caucasus (RAIC-CAC). This platform will facilitate the coordination of cross-border investment projects. The official launch of the alliance and the signing of the corresponding memorandum are expected at the 5th Tashkent International Investment Forum, scheduled for June 16–18, 2026. Thus, the Samarkand meetings have laid the groundwork for a long-term influx of foreign capital and technological modernization across the entire region.
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