Uzbekistan Engages International Partners in Developing Tashkent Financial Centre
Business
Uzbekistan is advancing plans to establish the Tashkent International Financial Centre (TIFC), aimed at expanding opportunities for foreign investors and developing the country’s financial market. At a meeting of the Interagency Working Group of the Foreign Investors Council under the President, representatives of international financial institutions, investment firms and legal organisations discussed the project’s priorities.
The meeting examined how the centre could support foreign investors, develop financial products and services, and build infrastructure for investment projects. Participants included representatives of the Asian Development Bank (ADB), JPMorgan, the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), BlackRock, Sullivan & Cromwell, Dentons and other organisations.
Nodir Juraev, the project coordinator from the Presidential Administration, provided an update on the centre’s development. Participants considered potential barriers to investment, priorities for financial and legal infrastructure, professional training needs and opportunities for international partners to contribute to the centre’s ecosystem.
International experience in establishing financial centres was also discussed. Hubertus Väth, Managing Director of Frankfurt Main Finance and Vice Chair of the World Alliance of International Financial Centers (WAIFC), presented recommendations for launching the TIFC.
The meeting also noted that the Tashkent International Financial Centre had joined the WAIFC, an alliance that brings together international financial centres and promotes cooperation among them.
Following the discussions, participants put forward proposals for the project’s further implementation. Key priorities included creating favourable conditions for foreign investment, expanding financial services and building competitive infrastructure.
The development of the TIFC forms part of Uzbekistan’s broader efforts to deepen international economic cooperation and improve its investment environment. Participants highlighted the centre’s potential contribution to the national economy and stressed the importance of drawing on international experience as the project moves forward.
Nodir Juraev, the project coordinator from the Presidential Administration, provided an update on the centre’s development. Participants considered potential barriers to investment, priorities for financial and legal infrastructure, professional training needs and opportunities for international partners to contribute to the centre’s ecosystem.
International experience in establishing financial centres was also discussed. Hubertus Väth, Managing Director of Frankfurt Main Finance and Vice Chair of the World Alliance of International Financial Centers (WAIFC), presented recommendations for launching the TIFC.
The meeting also noted that the Tashkent International Financial Centre had joined the WAIFC, an alliance that brings together international financial centres and promotes cooperation among them.
Following the discussions, participants put forward proposals for the project’s further implementation. Key priorities included creating favourable conditions for foreign investment, expanding financial services and building competitive infrastructure.
The development of the TIFC forms part of Uzbekistan’s broader efforts to deepen international economic cooperation and improve its investment environment. Participants highlighted the centre’s potential contribution to the national economy and stressed the importance of drawing on international experience as the project moves forward.
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